NEW YORK, Sept. 29, 2023 (GLOBE NEWSWIRE) -- OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for 12,000 U.S. and international securities, today announced Redsense Medical AB (Spotlight Stock Market: REDS; OTCQX: RDSNF), a medical device innovator, has qualified to trade on the OTCQX® Best Market. Redsense Medical AB upgraded to OTCQX from the Pink® market.
Redsense Medical AB begins trading today on OTCQX under the symbol “RDSNF.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
Upgrading to the OTCQX Market is an important step for companies seeking to provide transparent trading for their U.S. investors. For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the U.S. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws.
"We are excited to now offer U.S. investors the opportunity to begin trading the Redsense Medical share. Furthermore, through a cross-trade on OTCQX, we make it easier for international investors and institutions who are considering trading our shares. With most of our revenue in the U.S. and our strong focus on this market, the dual-quotation is a natural step to meet an increased interest in Redsense Medical”, says Pontus Nobréus, CEO of Redsense Medical AB.
B. Riley Securities Inc. acted as the company’s OTCQX sponsor.
About Redsense Medical AB
Redsense Medical AB is born-global medical device innovator established in Sweden. Redsense's mission is to improve the safety and quality of life for dialysis patients worldwide. The group has its main market in the United States as well as sales in Europe and Canada. Redsense promotes patient safety through highly cost-efficient fiber-optic monitoring of the blood access site during hemodialysis. The Redsense System immediately detects Venous Needle Dislodgement (VND) - a potentially life-threatening complication that causes 21 avoidable deaths per week worldwide. In essence, the Redsense alarm provides patients, nurses, and caregivers an extra pair of eyes; always alert, focused on one thing only, never looking away. Redsense products are used in both clinics and at home, daily and nocturnally. Today, the majority of treatments are performed in clinical settings, but home treatment is gaining popularity thanks to lower cost, increased convenience for the patient, improvements in technology and political initiative. The number of patients undergoing hemodialysis several times per week due to chronic kidney disease is approaching 4 million, worldwide. The projected growth rate is six percent annually, driven by ageing population and other factors. Every hemodialysis treatment carries the risk of VND. In the last years more than 1 million treatments have been conducted with the Redsense System worldwide.
About OTC Markets Group Inc.
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