Isansys Lifecare announces next-stage funding to speed in-hospital wireless patient monitoring to whole patient populations
Technology Strategy Board and private investors help fund widescale hospital deployments of Isansys Patient Status Engine and extension to paediatric use
Abingdon, United Kingdom, April 9th 2013 – Isansys Lifecare Limited, the provider of complete real-time physiological patient data services and systems, today announces that it has closed a major funding round with Isle of Man investors and has been awarded a grant from the Technology Strategy Board’s Smart awards programme. The funds will accelerate the roll-out timetable into UK hospitals of the company’s CE-marked clinical surveillance and early warning platform – the Patient Status Engine – and enable its use to be extended across the entire patient population, from paediatric through to adult and geriatric care.
The grant of £100k will contribute to the development of an expanded version of the Patient Status Engine (PSE) enabling its intended use to include a broad range of paediatric patients from neonates up to active adolescents, leading to the realisation of an end-to-end early warning system that will be clinically validated in a major children’s hospital in the UK this year. The expanded PSE will produce high quality, continuous real-time vital sign data as input for Paediatric Early Warning Scoring (PEWS) algorithms. These algorithms have already been proven to deliver significant clinical and economic benefits by being able to predict when adverse events or patient deteriorations will occur – giving nursing and clinical staff sufficient warning to take early preventative action.
Isansys’s CEO Keith Errey comments: “The new funds from committed investors on the Isle of Man and from the TSB represent an important step forward for Isansys and a great endorsement of our overall vision for ‘lifecare’ – unlocking new clinical insights and improving patient safety through continuous monitoring of every patient and at every life stage. This funding allows us to accelerate the delivery of our solution roadmap, and scale-up our existing early stage deployments to demonstrate the clear benefits of being able to transform real-time continuous vital sign data into clinical status indicators and prediction tools. We’ll be making further announcements about this key development in the near future.” Rebecca Weir, Isansys’s co-founder and Director of Business Development adds: “We are delighted to win this award from the Technology Strategy Board, which will help us extend Isansys Lifecare’s technology to address a critical unmet need – the provision of continuous patient surveillance and early warning systems for children in all wards, not only for those in intensive care. Our devices and systems provide radically new tools for clinical and nursing staff, and offer significantly greater levels of comfort and reassurance for parents and other family members. In the near future, they will allow children to be provided with ‘hospital-grade’ care at home – an enormous benefit for all concerned, particularly the young patients themselves.”
Isansys’s Patient Status Engine platform is the first of a new generation of affordable devices for continuous physiological monitoring of patients in hospitals, clinics or in their own homes. The core platform comprises the LifeTouch HRV011 intelligent body-worn wireless sensor (providing heart rate, respiration rate and heart rate variability data) continuous wireless oxygen saturation sensor and wireless blood pressure monitor. The Patient Status Engine is approved and CE-marked as a Class IIa medical device, and has been specifically and uniquely designed to be simple and easy to use, affordable and scalable to all patients, and network and ‘cloud’-ready.
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About Isansys Lifecare Limited (http://www.isansys.com)
Isansys Lifecare is a new generation healthcare company providing life- and cost-saving services built on our unique medical device and IT platform, the Patient Status Engine. We work with leading healthcare professionals, institutes and policy organisations operating in a wide range of healthcare settings, who want to employ new patient monitoring technologies and methods to improve patient outcomes and reduce costs.
Through its low cost and highly scalable architecture, the Patient Status Engine offers the opportunity for continuous surveillance of all patients regardless of whether they are in hospital, other care facilities, or at home. An ever-expanding number of algorithms and “Apps” that run in the Patient Status Engine interpret the data and present it to clinicians, nurses and carers in succinct and clinically relevant forms. Isansys’s ‘Vitals as a Service’™ clinical solution provides continuous real-time information for automated patient surveillance, for early warning scores and “track and trigger” indicators, and for predicting adverse events. For the first time, healthcare providers can not only cost-effectively improve patient safety and enhance clinical outcomes, but also massively reduce costs associated with avoidable patient deterioration, medical errors, readmissions to intensive care wards, and admissions (and readmissions) to hospital.
About Smart Awards
Managed by the Technology Strategy Board, the Smart scheme offers funding to small and medium-sized enterprises (SMEs) to engage in R&D projects in the strategically important areas of science, engineering and technology, from which successful new products, processes and services could emerge. http://www.innovateuk.org/deliveringinnovation/smart.ashx
Press contacts: Isansys Lifecare LtdNicky Denovan EvokedSet PR email@example.com Phone: +44 7747 017654