The Company will enable patients to benefit from Cloud-based medical monitoring,
on a monthly fee
”Towards the market entry of our medical wristwatch, the Company is launching a cloud-based service platform dedicated for end-users and their physicians, which will enable patient monitoring as part of their daily routine, in hospitals and in clinics, as well as sharing medical indices with their physician in real time, aiming to create comprehensive value for users”, said Eldad Shemesh, CardiacSense CEO.
The Caesarian-based company, that develops the only medical wristwatch successfully tested in clinical trials for monitoring and early detection of fever and respiratory diseases, chronic diseases, and arrhythmia disorders on ECG and Capnograph levels of accuracy, announced last month the signing of distribution agreements totaling about 30 million USD.
Tel Aviv, May 26, 2020 – CardiacSense, an Israeli digital health technology company, that develops first-of-a-kind medical wristwatch for remote monitoring and detection of general fever diseases, cardiac arrhythmias and chronic illnesses, announces that it will launch a new business model towards the beginning of its sales, expected in the 4th quarter of 2020, as part of which it will also provide users with a monthly fee cloud-based monitoring and follow up service.
With sales beginning this year, the Company will launch a monthly paid cloud-based service that will allow the user to maintain continuous measurement history, connect to the watch for receiving real-time information, connect to external applications and service providers as well as a digital cloud platform for physicians, clinics, and patient monitoring services as part of their daily routine and during hospitalization. This continuous, long-term monitoring is the most effective tool for detecting deterioration in patient’s medical condition, thus being able to provide early treatment, improve the patient’s quality of life, while reducing the cost of health care and the overload on the health systems.
“We are gearing towards the launch of commercial operations of remote continuous medical monitoring of patients in a variety of medical applications”, said Eldad Shemesh, Co-Founder and CEO of CardiacSense. “Our revenue model is based on sales revenues from our medical wristwatch, which uses a unique, patent-protected integrative technology of optical signals with motion, temperature, and pressure sensors to monitor patient vital body-indices, and transmitting the data directly to the patient’s physicians. This model is also based on a fixed monthly revenue for the use of cloud services that allow clinicians remote access to the wristwatch for real-time configuration and for receiving real-time measurements , maintaining continuous measurement history as well as connecting to existing external applications and platforms which are currently available on the market, to continue ad create high value for end-users, while supporting them at every stage”.
The launch of the cloud-based services will enable the Company to gather clinical information anonymously on a broad scale from various populations, towards research and further development of new capabilities.
CardiacSense’s wristwatch measures, among other indices, body temperature, respiratory rate, heart rate, blood pressure and blood oxygen saturation, and detects cardiac arrhythmias and cardiac arrest at a unique accuracy level equivalent to ECG, and is the only medical wristwatch of its kind which was successfully clinically tested in hospitals and clinics.
The Company announced earlier this month that the product has been proven to the highest degree of accuracy accurate breathing rate measurement including sleep apnea, similar to the accuracy of the FDA-approved Capnograph, which is recognized as the most accurate for measuring respiratory rate in hospitals. As a result, the Company plans to begin the required trials for acquiring FDA and CE certification for two different indications.
CardiacSense also recently announced the success of two clinical trials. In the first trial, the Company’s product demonstrated accuracy in ‘heart rate measurement under home conditions’. The second trial, performed at three medical centers, proved ‘accurate detection of atrial fibrillation without false alarms under home conditions’. Thus in comparison with ECG’s accuracy level, the most accurate measuring method available today. Both experiments presented a 99% accuracy measurement – at least 10 times more accurate than any other solution currently available on the market.