Semler Scientific Adopts Bitcoin as Primary Asset

Healthcare technology provider, Semler Scientific, Inc. (Nasdaq: SMLR), has announced that it has adopted bitcoin as its primary treasury reserve asset. The company has purchased 581 bitcoins for an aggregate amount of $40 million, inclusive of fees and expenses. The company’s share price rose 24.35% in trading on Tuesday following the news.

“Our bitcoin treasury strategy and purchase of bitcoin underscore our belief that bitcoin is a reliable store of value and a compelling investment,” said Eric Semler, Semler Scientific’s chairman.

Semler Scientific’s board and senior management have spent substantial time examining potential uses of cash, including acquisitions. “After studying various alternatives, we decided that holding bitcoin would be the best use of our excess cash,” said Mr. Semler.

Doug Murphy-Chutorian, MD, Semler Scientific’s CEO, said that the company remains focused on its core medical products and services. “We remain dedicated to our customers and our goal of operating a growing and profitable healthcare company. We are focused on maintaining sales of QuantaFlo® for peripheral arterial disease testing, while seeking a new 510(k) clearance from the FDA with expanded labeling for use as an aid in the diagnosis of other cardiovascular diseases.”

About Semler Scientific, Inc:

Semler Scientific, Inc. develops, manufactures and markets innovative products and services to combat chronic diseases. Its flagship product, QuantaFlo®, which is patented and cleared by the U.S. Food and Drug Administration (FDA), is a rapid point-of-care test that measures arterial blood flow in the extremities. The QuantaFlo test aids in the diagnosis of cardiovascular diseases, such as peripheral arterial disease (PAD), and Semler Scientific is seeking a new 510(k) clearance for expanded indications. QuantaFlo is used by healthcare providers to evaluate their patient’s risk of mortality and major adverse cardiovascular events (MACE). Semler Scientific also invests in bitcoin and has adopted bitcoin as its primary treasury reserve asset. Additional information about Semler Scientific can be found at www.semlerscientific.com.

 

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Semler Scientific Adopts Bitcoin as Primary Asset

Catie Corcoran

Biotech Editor