Medistim

Regulatory Filings • Mar 20, 2023

Medistim Expands Market Coverage in Canada by Going Direct

Medistim Expands Market Coverage in Canada by Going Direct

(Oslo, March 20, 2023) Medistim ASA (OSE: MEDI) is a niche market leader in ultrasound technology with headquarters in Oslo, Norway. The company develops and commercializes medical equipment for use in cardiac, vascular, and transplant surgery. Today, Medistim announce that they will expand their market coverage in Canada by establishing a direct sales operation. This move is part of the company's ongoing commitment to provide exceptional service to customers as well as fulfilling the company’s global growth strategy.

Medistim already has a strong position in Canada with presence in 15 of Canadas 38 cardiac centers. About 18 000 coronary bypass surgeries are performed in Canada per year, and about 37% are supported with Medistim’s technology. The company is well positioned to continue their growth with local sales representatives who will focus on attracting new customers as well as driving the conversion from devices with Transit Time Flow Measurement (TTFM) technology only, to devices combining TTFM and High Frequency Ultrasound (HFUS). In addition, the market within Vascular surgery provides further opportunities for growth.

"We are excited to announce this strategic move that will strengthen our relationship with our customers in Canada and grow our business there," says Medistim President and CEO Kari E. Krogstad. "We have had great success in the US with our direct sales force, and the Canadian team will have support from the US Management in their daily operations. We are currently in a transition period with our current distributor Medtronic, which will end on the 30th of April."

The new subsidiary, Medistim Canada Inc., is a Canadian corporation fully owned by Medistim ASA, and is located in Toronto, Ontario.

About Medistim:

Medistim was established in 1984 and has a track record of profitable growth over the past 20 years. The company is a pioneer within its segment and continues to invest in new product development. Medistim has wholly owned subsidiaries with sales organizations in the USA, Germany, UK, Spain, Denmark, and Norway, in addition to around 60 distributors in Europe, Asia, Middle East, Africa, Canada, and South America.

For more information, visit the Medistim home page: www.medistim.com

For more information, contact:

President and CEO, Kari E. Krogstad, Medistim ASA

Tel: + 47 918 38 110

Email: kari.krogstad@medistim.com

CFO, Thomas Jakobsen, Medistim ASA

Tel: + 47 906 59 940

Email: thomas.jakobsen@medistim.com