ivWatch Enters Into Licensing and Distribution Agreement With Terumo to Help Improve Patient Safety
Terumo Corp., exclusive distributor for ivWatch in Japan, licenses ivWatch infiltration detection technology for use in products globally
HAMPTON, Va., September 21, 2017 (Newswire.com) - ivWatch, LLC, the market leader for continuous IV infiltration and extravasation detection technology, today announced that Terumo Corporation, one of the world’s leading medical device manufacturers and distributors, is the exclusive distributor of the ivWatch Model 400 and the ivWatch OEM board in Japan, and is a global licensing partner for Terumo products containing the ivWatch OEM board.**
“We have partnered with ivWatch because they offer the most advanced technology to help minimize patient harm through the early detection of IV infiltration events,” said Tsuyoshi Tomita, group manager, General Hospital Products Group, General Hospital Company at Terumo Corporation. “We are confident that the ivWatch technology will help hospitals improve patient safety by reducing the harm caused by IV infiltration.”
IV therapy is the most common invasive hospital procedure worldwide. A recent study, conducted at a university hospital in Tokyo, Japan, found that catheters failed at a rate of 18.8 percent with 41.3 percent of those failures due to infiltration. Every failure of an IV results in a drug delivery error and carries the potential for reduced drug efficacy and physical harm.
“We are excited to partner with Terumo to help advance patient safety in Japan and on a global scale,” said Gary P. Warren, president and CEO of ivWatch, LLC. “Through the distribution of the ivWatch Model 400 and future integration of the ivWatch OEM board with Terumo products, Terumo will be able to help their customers deliver a higher level of patient care and reduced risks related to IV therapy. This partnership furthers our collective goal of ending the harm associated with IV infiltration and extravasation.”
IV infiltration and extravasation is a major problem as it can lead to serious medical complications and even amputation. The ivWatch Model 400 continuously monitors a patient’s peripheral IV for evidence of infiltrations and extravasations, which occur when medication or fluid leaks into the surrounding tissue. Early detection of those failures via ivWatch sensor technology helps to minimize injuries associated with this common complication of IV therapy.
ivWatch technology can be seamlessly integrated with patient monitoring systems, infusion pumps and other devices via the ivWatch OEM board. The agreement provides Terumo with exclusive rights to integrate ivWatch into existing and future Terumo products in Japan. In addition, Terumo can integrate ivWatch technology into products available globally.
Tokyo-based Terumo Corporation is one of the world's leading medical device manufacturers with over $5 billion in sales and operations in more than 160 nations. Founded in 1921, the company develops, manufactures and distributes world-class medical devices including products for use in cardiothoracic surgery, interventional procedures and transfusion medicine; the company also manufactures a broad array of syringe and hypodermic needle products for hospital and physician office use. Terumo contributes to society by providing valued products and services to the health care market and by responding to the needs of health care providers and the people they serve. Terumo Corporation's shares are listed on the first section of the Tokyo Stock Exchange and is a component of the Nikkei 225, Japan's leading stock index.
Terumo Corporation - 2-44-1 Hatagaya, Shibuya-ku, Tokyo, Japan. http://www.terumo.com
ivWatch LLC is a medical device manufacturer and biosensor technology company focused on improving patient safety and the effectiveness of intravenous therapy. ivWatch provides a first-of-its-kind, FDA-cleared, noninvasive medical device that continuously monitors peripheral IVs for infiltration and extravasation events. The ivWatch Model 400 aims to help eliminate patient harm associated with adverse events and to reduce drug delivery errors. The ivWatch OEM Board integrates ivWatch technology into existing products, enabling OEMs to help health care providers deliver a higher level of patient care and to reduce risks related to IV therapy.
The ivWatch OEM Board is not an FDA-cleared device. It is the responsibility of the Original Equipment Manufacturer integrating ivWatch technology to secure the proper regulatory clearance. Follow us on Twitter@ivWatch or Facebook @ivWatchLLC. www.ivWatch.com
MEDIA CONTACT: Leah Moore, firstname.lastname@example.org, Office (855) 489-2824 x7031, Mobile (757) 839-5653
**The ivWatch OEM Board integration and ivWatch Model 400 will be available internationally pending the necessary regulatory approvals.