Investors

We are a leading digital cardiac diagnostic center, founded by renowned cardiologists. myritmo is “Made in Germany” and certified as a class IIa medical device and can be used immediately and flexibly scaled without investment. Our full-service offer is based on a 3-channel mini ECG and a Germany-wide network of cardiologists supported by AI-based analysis software. For customers such as HanseMerkur, Allianz, UKE and Cardiologicum Hamburg, tens of thousands of ECGs have already been analysed. myritmo has received numerous awards for its top-quality services in cardiac diagnostics – including the German Medical Award 2021.

Sector:

Diagnostic as a Service (DaaS) – MedTech

Foundation:

2018 in Hamburg, Germany

Legal Status:

GmbH (LTD)

Founders:

Drs med Ekkehard Schmidt
Stephan Kranz
Matthias Glawe
cardiologists, cardiological specialists and partners of Cardiologicum Hamburg

CEO / CMO:

Dr. rer. pol. Philip Nölling

Dr. med. Stephan Kranz

Employees:

19

Funding:

Own Capital, Family Office, Insurance Company

Sector:
Diagnostic as a Service (DaaS) – MedTech

Foundation:
2018 in Hamburg, Germany

Legal Status:
GmbH (LTD)

Founders:

Drs med Ekkehard Schmidt
Stephan Kranz
Matthias Glawe
cardiologists, cardiological specialists and partners of Cardiologicum Hamburg

CEO / CMO:

Dr. rer. pol. Philip Nölling

Dr. med. Stephan Kranz

Employees:
19

Funding:
own capital, Family Offices

Mission

Cardiac disease is the leading cause of death worldwide and the number of at-risk patients is increasing due to an aging society and unhealthy lifestyle. When cardiac conditions are diagnosed early, preventive measures can be taken to forestall grave consequences such as stroke or heart attack. myritmo has the vision to set new standards in long-term ECG diagnostics to the benefit of patients and physicians alike by improving heart and stroke prophylaxis and the aftercare of cardiac patients. We aim to revolutionize the way heart problems are detected and managed by providing the most accurate and advanced ECG monitoring technology, leveraging the power of artificial intelligence (AI) and machine learning with a network of cardiologists to validate results to ensure the best possible treatment options.

Product

1. myritmo: modern, novel 3-channel-ECG system developed by doctors with decades of specialist expertise for the prevention of heart attacks and strokes based on easy-to-use, wireless hardware and AI-controlled software with the expertise of a network of cardiologists; through an algorithm, the ECG measurement is evaluated and medically checked and validated by an experienced cardiologist. myritmo is becoming the worldwide platform for analysing, validating and reporting long-term ECG.

2. CardioCheck: Successfully launched in April 2023, CardioCheck offers the first medical evaluation service for 30s-wearable-ECGs – Heartscreening for everyone. CardioCheck works with every Smart Watch type which records ECGs. Evaluation report within one working day – scalable up to 10.000 evaluations per day.

Product

1. myritmo: modern, novel 3-channel-ECG system developed by doctors with decades of specialist expertise for the prevention of heart attacks and strokes based on easy-to-use, wireless hardware and AI-controlled software with the expertise of a network of cardiologists; through an algorithm, the ECG measurement is evaluated and medically checked and validated by an experienced cardiologist. myritmo is becoming the worldwide platform for analysing, validating and reporting long-term ECG.

2. CardioCheck: Successfully launched in April 2023, CardioCheck offers the first medical evaluation service for 30s-wearable-ECGs – Heartscreening for everyone. CardioCheck works with every Smart Watch type which records ECGs. Evaluation report within one working day – scalable up to 10.000 evaluations per day.

Stationary: Lending of the ritmo, evaluation and medical validation of the results of the AI software for a fee to doctors, clinics, study centers and medical facilities. Pay per use or flat, flexibly scalable. Anytime and anywhere.

Mail-Order: Direct booking via the myritmo.de website shop, costs range between 219,- Euro and 299,- Euro incl. VAT depending on the prevention package for the end consumer.

CardioCheck: An inexpensive pre-screening for B2B and B2C. Generates traffic and potential customers. Price 4,90 Euro incl. VAT per screening.

Sleep Apnea pre-screening
Heart Attack prevention: Development of AI-analysis software for ischemia
Development of own Heart Risk Score (Herz-Kranz-Score) incl. patient app.
Heart Valve Screening. Development of seismocardiogram incl. AI-analysis software. Patent pending

TAM Theoretically, every person with a heart in the USA & EU 28 is a potential customer of myritmo (currently about 785 million people). We also assume that 500 million people will have smart-devices and will therefore be able to use our CardioCheck. Given the mix of our different revenue strains and therefore different pricing models, we assume a mixed calculated price of $ 70 per examination with myritmo (one per year) and $ 4.90 per examination per CardioCheck (one per month). This results in a TAM value of $ 85 billion.

SAMHowever, the main target group are people who have a high risk for cardiovascular diseases. Risk factors are very diverse and hard to calculate, but obviously the biggest risk factor is age. Therefore, we include people older than 65 years in the main risk group (~ 239 million people). Since there are a lot of additional risk factors like smoking, obesity, hypertension and many more, which also affect younger people, we include 10% of all people under 65 years in our SAM calculation (~23.9 million people). In sum, our assumed risk group comprises 263 million people, which results in a SAM value of $39.4 billion. ($18.4 bn for myritmo and $21 bn for CardioCheck)

SOM Our exploitation strategy focusses on Europe and the USA.
CardioCheck: As we are the first to offer this innovative service, we estimate our market potential to be at least 15%. This would be 50 million smart devices with an SOM of $ 3.18 billion. 50% of sales in the USA and 50% in Europe.

For myritmo, we assume a potential market-share of 10%, adding up to 26.3 million people and a SOM of $1.8billion. These sales are massively boosted by CardioCheck customers.

As we have very good market access in Europe, we estimate that 65% of these sales are generated in Germany, France, Italy, Spain and the UK. We allocate 35% of sales to the USA.

The total SOM adds up to value of $ 4.98billion.

2024

Launch of own AI-ECG analytics platform for the detection of 22 arrhythmias
Barmenia Health Insurance as mayor customer
myritmo is member of “Bild Herzgipfel”, Germanys most prestigious Heart Alliance
CardioCheck – “das Deutschland-EKG”: 1 week for free for all of Germany.
Start ECG cooperation with Withings

2023

Launch of CardioCheck – the first medical evaluation service for 30s-wearable-ECGs – Heart-Screening for everyone
Re-certification audit ISO 13485
HanseMerkur buys a 23% stake of dpv-analytics
“Heart Metal Challenge” at Wacken Festival
2nd place “Electryfing Ideas Award”
More than 1.000 ECG analyses per month

2022

myritmo guest at the CES Las Vegas
Start development of AI-longterm ECG
Winner of Gunnar Uldall Price
Allianz Health Insurance as mayor customer
myritmo receives funding from AI-Start-Up HUB Hamburg

2021

Certification as medical Product class IIa (hardware and software), according to MDD & CE
Development of AFIB / Stroke Screening. Own certified AI-analytics platform
Member of “Strocare-Program” of Barmer Health Insurance
Winner of German Medical Award

2020

Launch of myritmo websites & market entry Germany
HanseMerkur Health Insurance first mayor customer

2019

Development of a mini ECG with two German companies, psiori GmbH for the software and livetec GmbH as hardware manufacturer with clear requirements: Construction of a fully-fledged 3-channel mini ECG for highly scalable long-term cardiac screening to reduce the physician’s evaluation time with the highest possible safety in conjunction with artificial intelligence for software-based evaluation followed by physician validation

2018

November, Dpv-analytics has been founded by specialist doctors with the aim of producing its own smart ECG device.

Third capital round in 2024 / 2025
The latest post-money evaluation is € 20 million (January 2023; € 2.5 million fresh equity was raised). The funds were used to develop the products to market maturity
Targeted post-money evaluation is USD 100 million with an estimated net equity inflow of USD 15 million (cash capital increase of 17.5%) . The funds are required for market entry, scaling and marketing

Growth stage

USP

Made in Germany – evaluation of ECG data with state-of-the-art AI algorithms and our fully-fledged 3-channel ECG, both MDR approved as a medical device throughout the EU.

Certified as a medical product IIa since 2020

Unique eco-system “plug&play”. Remote onboarding within 15 min. Open to all software interfaces.

Unique AI-analytics-platform with permanent further development of analytics software. Own clinical research including database of > 300.000 persons.

Cardiologist Network including own telemedical platform. Each ECG recording is assessed by a specialist doctor; individual result report is usually available within 48 hours after data analysis

Awards

Winner of the German Medical Award as the most innovative medical product 2021, winner of the Gunnar Uldall Prize of the North German Economy 2022, 2nd place at the Hamburg Founders’ Prize 2022, ZVEI Electrifying Ideas 2nd place 2023, Hamburg Startup Champ 2023

Key Partners

Key partners in our value chain are medical doctors, health insurance companies, associations, and foundations. Medical doctors are our major partners in marketing myritmo and the long-term ECG recording. They are substantially profiting from the rental devices as it takes a great workload of their shoulders regarding patient management and ECG analysis without the need for investment. At the same time, they distribute our service to the patients by offering it in their practices. Associations and foundations such as the European Society of Cardiology have close contact with people at risk, which we would like to address with our ECG monitoring system. Similarly, health insurance companies, including the Allianz, HanseMerkur, Barmenia and Barmer, are key partners as they advertise and recruit patients for our ECG monitoring system and profit themselves from overall lower numbers of patients with severe cardiac conditions and lower therapy costs. The most important sell-side partners of myritmo are the Cardiologicum Hamburg, and the insurance companies HanseMerkur and Allianz, with 65% of revenues, shared amongst these three partners.

Shareholder structure