The medical device company PMD Device Solutions held an extraordinary general meeting on April 3, 2024 covering several key topics including the election of a new auditor and details on their flagship respiratory monitoring product RespiraSense.
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Election of New Auditoritecture strengthens PMD’s financial oversight
- PMD Device Solutions elected HLB Auditoriet AB as its new auditing firm, with Martin Gustafsson serving as auditor.
- Mats-Åke Andersson will take on the role of deputy auditor.
- The change in auditor comes at an important juncture as PMD looks to ramp up expansion efforts for its RespiraSense respiratory monitoring technology.
Reliable, accurate auditing provides third-party validation that is especially crucial for medical technology providers. As PMD charts its future growth strategy, shareholders and healthcare customers can take confidence in financial reports verified by a meticulous auditor.
PMD Device Solutions: Auditor Fee Structure Optimizes Independence
- Auditor HLB Auditoriet AB will be paid according to approved invoices rather than a fixed fee structure.
- Invoice-based payments are preferred to fixed model because it incentivizes thorough, unbiased audits.
Ensuring auditor independence is vital for medical device makers like PMD seeking to instill confidence and trust with shareholders and hospital procurement decision makers. The variable payment structure avoids potential conflicts of interest that could arise from capped compensation models.
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RespiraSense Delivers Best-in-Class Respiratory Monitoring
PMD Device Solution’s lead product RespiraSense enables continuous, motion-tolerant monitoring of respiratory rate, a key vital sign for managing deteriorating patient conditions.
- RespiraSense represents a breakthrough innovation as the first reliable technology for respiratory monitoring in non-stationary patients.
- PMD received FDA clearance for Respirasense in 2022, paving the way for U.S. expansion.
- The technology is currently deployed in 25 hospitals throughout Europe.
Early intervention for at-risk patients can greatly improve outcomes in respiratory-related events – the leading cause of in-hospital deaths. RespiraSense’s precise, efficient tracking better equips medical staff to detect declining respiratory health and prevent adverse events.
Skilled Leadership to Guide PMD’s Growth
PMD CEO Myles Murray brings medical device expertise to guide RespiraSense’s market expansion. Shareholders and hospitals can have confidence in PMD’s leadership:
“Our CEO’s vision has been instrumental to product success achieved so far. The extraordinary general meeting underscores executive leadership’s commitment to transparency and growth as we scale up.” – PMD Board Member
With its breakthrough continuous respiratory monitoring technology validated through FDA clearance and use in 25 European hospitals, PMD Device Solutions is positioned to help transform respiratory patient care as it works towards full-scale commercialization. The extraordinary general meeting highlighted critical pieces supporting the next chapter of transformational and transparent growth.
