PMD Device Solutions Restructures to Focus Resources on Global Sales Expansion

STOCKHOLM, SWEDEN / ACCESSWIRE / October 7, 2024 / PMD Device Solutions (FRA:8T0)(STO:PMDS) has announced a restructuring initiative to allocate more resources towards expanding sales in key global markets, including the UK, US, and Germany, while continuing to support the Irish market. This move is part of a proactive effort to prioritise sales and market growth, ensuring PMDS continues to lead in the digital healthcare sector.

The decision to focus on these high-growth regions underscores the company’s commitment to meeting the rising demand for its preventive healthcare solutions, which include integrated care solutions through continuous respiratory rate monitoring and remote patient monitoring programmes. By concentrating its efforts in these markets, PMDS aims to deepen customer engagement and further solidify its global presence.

Myles Murray, CEO of PMD Device Solutions, commented: “This realignment reflects our unwavering commitment to spreading the adoption of our innovative products and services on a global scale. By proactively supporting our growth targets and diversifying our revenue streams, we are positioning the company for long-term success. Our team has done an incredible job, and this restructuring builds upon their successes, allowing us to continue driving forward with confidence.”

The restructuring will involve consolidating up to 60% of European roles across compliance, engineering, and clinical care specialists. This shift will focus resources to better support sales activities and new contract efforts in the UK and US markets, while also strengthening the market access programme in the German market. This realignment enables PMDS to optimise its operations for growth in these strategic regions.

In addition to accelerating global sales, the restructuring is designed to improve operational efficiency and contribute positively to the company’s financial health, further supporting PMDS’s long-term sustainability and profitability.
PMDS is confident that these actions will not only solidify its market leadership but also improve its ability to deliver cutting-edge healthcare solutions to medical professionals worldwide.

This information is information that PMD Device Solutions is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-10-07 17:01 CEST.

For additional information, please contact

Myles Murray, CEO
Phone: +353 86 887 4994
E-mail: myles@pmd-solutions.com & for general enquiries investor.relations@pmd-solutions.com
The Company’s Certified Adviser is Redeye.

Information about PMDS

PMD Device Solutions AB develops and sells medical products for respiratory monitoring in both the hospital acute monitoring sector and the remote monitoring homecare sector. Its primary product is RespiraSense, a solution used for monitoring respiratory rate to support the detection of patient deterioration early and to avoid preventable respiratory failure and adverse patient outcomes. RespiraSense is, to the Company’s knowledge, the world’s only continuous, motion-tolerant respiratory rate monitor delivering class-leading reliability in measuring respiratory rate. RespiraSense is a novel technology that is commercialised in Europe, the UK, and FDA cleared in the US. The company’s shares are listed on Nasdaq First North Growth Market (STO: PMDS).

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PMD Device Solutions Restructures to Focus Resources on Global Sales Expansion

SOURCE: PMD Device Solutions

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