Senzime develops and markets CE and FDA approved systems that confirm in real time the correct level of anesthetic before, during and after surgery to objectively determine when it is safe to wake the patient. Senzime’s unique TetraGraph system measures the depth of the patient’s muscle block digitally and with advanced algorithms using patented disposable sensors that are the lever of the business model.
The TetraGraph system is normally sold through distributors or direct sales, with hospitals being the end customers. Most appraisals are carried out in several stages during which value analysis committees often make final purchasing decisions based on clinical and financial justifications. The pandemic has resulted in longer sales processes for new technology, but Senzime now sees increased access to hospitals.
Senzime announced on November 12, 2021, that trials were underway or planned in more than 60 hospitals around the world.
At the end of december 2021, the number of ongoing or planned trials worldwide stood at 74 hospitals with a total future potential of 1,150 TetraGraph systems. Of these, some trials are planned or underway, others have been completed with positive results, and others are awaiting purchase approval.
During the fourth quarter of 2021, Senzime secured TetraGraph sales in 16 hospitals around the world. These hospitals are now gradually starting to purchase from Senzime. A review was lost for a competitor. The initial deal in each new hospital is typically a few TetraGraph systems on first order, with the goal of filling all of the operating rooms in each hospital over time.
As previously communicated Senzime estimates that the lifetime value (LTV) of a delivered TetraGraph, including the use of TetraSens sensors, is 250 TSEK over 5 years with a gross margin above 65%.
“We ended 2021 in a strong position and we are very confident until 2022. There are currently more TetraGraph evaluations going on than ever before. We note that a high proportion of these turn into sales and that the use of disposable TetraSens sensors is high. There are an average of 40 and 8 operating theaters per hospital in the United States and Europe, respectively, and our new MDR certified production facility guarantees the required delivery capacity ”, said Pia renaudin, CEO of Senzime