Inovise Medical Selected in Top 50 Medical Device Startups by MedTech Innovator to Participate in a Global Flagship Showcase and Accelerator Program
PORTLAND, Ore., June 24, 2021 (Newswire.com) - Inovise Medical, a privately held medical device developer, announced today it has been selected to participate in MedTech Innovator's Annual Showcase and Accelerator Program. The selection process reduced 1,100 applicants from over 50 countries to 195 candidate companies who presented their technology to teams of senior industry leaders. From these 195 presentations, 50 companies (25 early-stage and 25 mid-stage) were selected to compete in the MedTech Conference powered by the Advanced Medical Technology Association (AdvaMed) in September.
"Our goal at MedTech Innovator is to find the most promising medical innovations and make sure they actually reach the patients who need them," said Paul Grand, CEO of MedTech Innovator. "We are thrilled with the caliber of the startups participating in this year's cohort, and we look forward to providing them with the resources and mentorship they need to succeed."
Inovise's inclusion as a mid-stage company is based on their Audicor® technology, which noninvasively measures the electrical and mechanical activity of the heart to improve the early detection of acute decompensated heart failure. Signals are acquired through a hand-held device that connects to a smart phone for analysis in the cloud. Physicians receive notifications based on biomarker trends and values, allowing them to modify patient therapy (e.g., change drug dosage) before there is a significant deterioration of heart failure status requiring hospitalization.
Studies of this technique have demonstrated a significant improvement over conventional methods in reducing rehospitalizations and improving outcomes. This has recently led to the granting of Breakthrough Device Designation by the FDA, which affords prioritized review as well as an accelerated Medicare coverage pathway for devices that are deemed to provide for more effective care of serious medical conditions.
"We have long recognized that patients and providers are in search of an easier and more cost-effective way to detect worsening heart failure before it requires rehospitalization," said Peter Bauer, PhD, CEO of Inovise Medical. "To be selected by MedTech Innovator is a huge vote of confidence that we are well on our way to changing the game."
About Inovise Medical, Inc.
Inovise Medical has been applying artificial intelligence and machine learning techniques, as well as traditional algorithm development, to the problem of heart failure for 15 years. To learn more about Inovise Medical, visit https://inovise.com/.
Media Contact:
David Sheppard
Email: pr@inovise.com
Source: Inovise Medical