CLEVELAND – Monday featured a big announcement during the 2019 Medical Innovation Summit, with the Cleveland Clinic and American Well revealing that they are partnering to create a joint venture (JV) focused on telehealth. The venture, dubbed The Clinic for now, was conceived "in order to achieve our joint vision and our ambitions in how to revise the delivery of care and to be at the forefront of it," said Semih Sen, chief business development officer, Cleveland Clinic, as part of a keynote delivered by Roy Schoenberg, president and CEO of Boston-based American Well.
HONG KONG – Singapore's Tan Tock Seng Hospital and Lucence Diagnostics Pte. Ltd. have teamed up to develop a next-generation decision support tool for liver cancer patients. The visualization tool, known as Liver3D, was designed to reduce the risks associated with liver cancer surgery. It does so by developing machine learning models based on radiology images of liver cancer patients for clinical decision support.
Sky Medical Technology Ltd. has cinched FDA clearance for a third indication for its geko device, a noninvasive, battery-powered wearable technology designed to increase blood flow in the deep veins of the lower legs. The Daresbury, U.K.-based company already had the agency's blessing for geko's use immediately after surgery to stimulate the calf muscles to prevent venous thromboembolism (VTE) and preoperative reduction of edema. Now the FDA has granted geko 510(k) clearance for stimulation of calf muscles to curb venous thrombosis in nonsurgical patients at risk of VTE.
Magnetic resonance imaging (MRI) machines typically require a dedicated shielded room, as well as an additional room with electronics for analytics. That makes MRI, with a typical costly system that requires whole body immersion and elaborate facilities, not particularly feasible for many health care settings.
Palo Alto, Calif.-based startup Doc.ai is training its sights on the $9.5 billion global epilepsy market, with the aim of using artificial intelligence to help patients find the best medication to control their seizures. To that end, the company is teaming up with the Stanford University School of Medicine and the Stanford Epilepsy Center on a digital health trial to develop a predictive treatment model that will identify the right treatment at the right time for individuals living with epilepsy.
Abbott Laboratories and Tandem Diabetes Care Inc. said Tuesday that they plan to develop and commercialize a line of integrated diabetes products based on Abbott's glucose sending technology and Tandem's insulin delivery systems. The collaboration comes as the U.S. FDA is encouraging medical device manufacturers to consider the ability to share and use information safely and effectively in the development and design of connected devices.
Mayo Clinic has entered a 10-year partnership with Google "to expand on the more than 200 projects already incorporating artificial intelligence (AI) and machine learning," Mayo Chief Medical Information Officer Steve Peters told BioWorld MedTech. The Rochester, Minn.-based health care organization expects Google's expertise in data science and search technology will help the clinic improve treatment and outcomes by developing machine learning models.
HONG KONG – Accelmed, a group of health tech funds, has established a new venture capital fund named Accelmed Ventures II. The fund has the goal of raising and managing approximately $100 million for investment in Israeli and global pre-revenue health tech startups.
Australian digital medication management company Medadvisor Ltd. raised AU$17 million (US$11.4 million) via an oversubscribed placement in which U.S. health care solution provider HMS Holdings Corp. was a cornerstone investor, putting up $11 million and becoming the firm's largest shareholder with a 13% stake in the digital health company.
Houston-based startup Braincheck Inc. scooped up $8 million in series A funding in a round led by S3 Ventures and Tensility Venture Partners, along with True Wealth Ventures and Nueterra Capital. Braincheck launched its digital cognitive assessment tool in 2015 and a cognitive care planning solution in 2018, and now the company is looking to broaden its footprint with physician practices, hospitals and health systems. Proceeds from the financing will help to build the company's sales and marketing and clinical development teams in Houston, as well as production development staff in Austin.