Acarix

Acarix is a Swedish medical technology company built around the CADScor System, a noninvasive diagnostic platform used to assess the likelihood of coronary artery disease. The company’s business combines device sales, disposable patch sales, and market development for use in clinical settings, with activity centered in Europe and the United States.

— Acarix
%
CADScor System55% Noninvasive diagnostic system used to assess coronary artery disease risk.
Disposable patches35% Single-use patches consumed with each CADScor test.
Services and commercialization support10% Market access, training, and related support for adoption of the system.

Acarix sells primarily to healthcare providers that evaluate patients with suspected coronary artery disease and need a...

  • Hospitals and cardiology departmentsprimary

    Buy the CADScor System to support coronary artery disease assessment in clinical workflows

  • Outpatient clinics and diagnostic centerssecondary

    Use the system for noninvasive patient triage and repeat testing

  • Distribution and channel partnerssecondary

    Help place the product in new markets and support adoption

Acarix’s disclosed sales activity spans Europe and the United States, with the U.S. highlighted as an important growth...

  • •United States is a key commercial market for CADScor System adoption
  • •Germany has been a meaningful European sales market
  • •Sweden and Austria appear in reported sales disclosures
  • •European market access depends on reimbursement and regulatory acceptance

Acarix’s strategy centers on expanding acceptance of the CADScor System, especially in the U.S...

01
Expand U.S. commercializationshort-term

The U.S. market offers the largest near-term opportunity for system placements and patch sales

02
Broaden market access and reimbursementmedium-term

Clinical adoption depends on approval, reimbursement, and inclusion in care pathways

03
Secure financing for growthshort-term

Commercial rollout and product development require ongoing capital support

Acarix faces commercialization risk because adoption of a new medical device can take time and may not translate into...

critical

Financing and going-concern risk

Commercialization and development require external capital until the business scales

Scope
Company-wide
Materiality
high
high

Market acceptance of CADScor System

Revenue depends on clinicians adopting a new diagnostic workflow and trusting the product

Scope
Core product commercialization
Materiality
high
high

Regulatory and reimbursement delays

Market launches may require approvals and payer acceptance before sales can scale

Scope
Target markets
Materiality
high
medium

Competition and obsolescence

Alternative diagnostic tools could limit adoption if they are cheaper or more established

Scope
CAD diagnostics market
Materiality
medium
medium

Supply-chain and trade disruption

Imported components and cross-border operations can be affected by tariffs or logistics issues

Scope
Hardware and consumables
Materiality
medium
Revenue recognition for device and patch sales
Point-in-time recognition for goods
IFRS 16
Lease accounting (IFRS 16)
Affects balance sheet leverage and operating expense presentation
Going concern and financing assumptions
Can materially affect classification and disclosure
Development cost and impairment judgments
Important for a small R&D-driven medtech company

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: 11/08/2026