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MEDICPEN

MARKET CAP - 72M SEK
MARKET CAP - 72M SEK

ABOUT US

MedicPen’s business concept is since the company started to develop, manufacture and sell IoT products that make it easier for patients to manage their medication. The products will be based on the MedicPen’s patented innovation for the separate management of medicines up to the time of dosing. The products must be at the forefront of technology and be developed for integration in IT environments.

Q&A WITH FREDRIK WESTMAN  

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How many staff members are on the team currently & do you find it difficult to find quality local and international staff?

We are six employees at the moment. Finding competent employees in and around Lund is quite easy. The mobility is quite big, which means that we can hire expertise from other start-up companies, but also from big medtech and IT companies that are restructuring.

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Do any of the staff and or management team hold any shares within the company?

The CEO of the MedicPen has around 900,000 shares and several persons in the operational team own shares.

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During your time at the company, what's been your greatest achievement thus far?

The greatest success has been that we completed the technical development of a product that has the potential to become the world leader in medicine management and that we successfully conduct tests of the system in Denmark.

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What is your medium to long-term goal & has it been consistent for some time?

The objective in the medium term (2019) is to test our product and gain acceptance of our medicine management system in Denmark and Sweden aiming to show the positive effects that arise when caregivers can focus on nursing and care instead of managing the patients’ medications. In the longer term (2020-), the goal is to sell our product and medicine management system to municipality caregivers in Scandinavia and in other countries.

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What sets your company apart from others within your industry?

There are a number of different products that are used in, for example, elderly care today, such as dosets and bags with doses (sachets) that are packed in pharmacies. Both solutions lead to poor adherence among patients, wrong dosing and major work efforts among caregivers. Our Medimi®Smart consists of up to 16 cartridges. Each cartridge consists of up to 28 tablets. Each tablet is stored in a separate compartment. This means that the tablets are not mixed until dosing, which is an important difference to sachets and dosets.

Storing the tablets separately in Medimi®Smart means that our product is more flexible than other solutions. For example, when the doctor changes dosage, care personnel need not discard drugs, which is a big problem. Provided that the medicine is already in Medimi®Smart, caregivers do not need to do anything at all during dose changes, which saves a lot of time and resources. Medimi®Smart retrieves information about the patient’s dosage from the overall care system. The product speaks with light, sound and speech when it is time to take the medicine. The patient only needs to press a button and the tablets are dispensed. If the patient does not take his or her medicine according to a predetermined time, alarms are sent to caregivers or to relatives. Pills that you take when needed can also be stored in Medimi®Smart, such as painkillers.

This means that care givers can limit the number of pain tablets that the patient takes. Furthermore, Medimi®Smart reminds of medicines that cannot be stored in the dispenser, for example when it is time to take an ointment, syringe, drops. All events are stored in a log so that the doctor can get information about the patient’s compliance.

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Please share with us your favourite memory and or event since you joined the company?

To be updated.

MEDIA