"We are excited to announce this strategic move that will strengthen our relationship with our customers in Canada and grow our business there," - Medistim President and CEO Kari E. Krogstad
On March 21st, Medistim announced 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 Canada’s 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.