SANTA CLARA, Calif., May 28, 2024 /PRNewswire/ — Semler Scientific, Inc. SMLR), a pioneer in the development and commercialization of technology products and services for healthcare providers to combat chronic diseases, today announced that its board of directors has adopted bitcoin as its primary treasury reserve asset. Additionally, Semler Scientific announced that it purchased 581 bitcoins for a total value of $40 million, including fees and expenses.

“Our bitcoin treasury and bitcoin purchasing strategy underscores our belief that bitcoin is a reliable store of value and an attractive investment,” said Eric Semler, president of Semler Scientific. “Bitcoin is now a major asset class with over $1 trillion in market value. We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable hedge against inflation and a safe haven amid to global instability. We also believe that it is digital, the architectural resilience makes it preferable to gold, which has a market value approximately 10 times that of bitcoin. It has the potential to generate outsized returns as it gains increasing acceptance as digital gold.

“Additionally, we are energized by the growing global acceptance and ‘institutionalization’ of bitcoin – reflected most recently by the Securities and Exchange Commission’s approval in January 2024 of 11 bitcoin exchange-traded funds. These funds have reported more than $13 billion in net inflows, with investments from nearly 1,000 institutions, including global banks, pensions, endowments and registered investment advisors. It is estimated that more than 10% of all bitcoins are now held by institutions,” Mr. Semler added.

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

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

As Semler Scientific continues to generate revenue and free cash flow from QuantaFlo sales, it will proactively evaluate the use of excess cash. Bitcoin will serve as Semler Scientific’s primary treasury on an ongoing basis, subject to market conditions and Semler Scientific’s anticipated cash needs.

More information about Semler Scientific’s bitcoin treasury strategy will be published on its website at www.semlerscientific.com.

About Semler Scientific, Inc:

Semler Scientific, Inc. develops, manufactures and markets innovative products and services to combat chronic diseases. Its flagship product, QuantaFlo®, patented and approved by the US 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 new 510(k) clearance for expanded indications. QuantaFlo is used by healthcare professionals to assess their patients’ risk of mortality and major adverse cardiovascular events (MACE). Semler Scientific also invests in bitcoin and has adopted bitcoin as its main treasury reserve asset. Additional information about Semler Scientific can be found at www.semlerscientific.com.

Forward-looking statements

This press release contains “forward-looking” statements. Such statements can be identified, among other things, by the use of forward-looking language such as the words “believe”, “target”, “may”, “will”, “intend”, “expect”, “anticipate”, “estimate” , “design”, “would”, “could” or words of similar meaning or the negatives of these terms or by discussing strategy or intentions. Forward-looking statements in this release include express or implied statements regarding the new bitcoin strategy and its ability to generate extraordinary returns, website publication of information about the bitcoin strategy, as well as the pursuit of a new 510(k) authorization for QuantaFlo with expansion indications for use, among others. Such forward-looking statements are subject to a number of risks and uncertainties that could cause Semler Scientific’s actual results to differ materially from those discussed here, such as risks inherent in investing in bitcoin, including the volatility of bitcoin; risk of implementing a new treasury strategy; risk that insurance plans and other customers will not continue to license its cardiovascular testing products; risk of changes in the reimbursement landscape for its customers, including related to the CMS rate announcement; risk of obtaining a new 510(k) authorization for expanded indications; along with the other risk factors detailed in Semler Scientific’s filings with the Securities and Exchange Commission. These forward-looking statements involve assumptions, estimates and uncertainties that reflect current projections, expectations or internal beliefs. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. All forward-looking statements contained in this press release are qualified in their entirety by these cautionary statements and the risk factors described above. Furthermore, all such statements are made as of the date of this release and Semler Scientific undertakes no obligation to update or revise these statements unless otherwise required by law.

INVESTOR CONTACT:

Renae Cormier
CFO
[email protected]

SOURCE Semler Scientific, Inc.

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