President And Ceo
CurrentThis is the most awesome company in the world. The insiders, the outsiders, the clinical partners and the customers are flying at Mach 3 to solve a major problem in healthcare. ivWatch, LLC develops and markets biomedical sensor technology focused on infusion therapy and vascular access. The Journal of Infusion Nurses Society published an article in 2015 stating: “Peripheral intravenous (IV) catheter insertion, the most common invasive hospital procedure performed worldwide, is associated with a variety of complications and an unacceptably high overall failure rate of 35% to 50% in even the best of hands.” Approximately 80% of patients admitted to hospitals receive IV therapy and it is estimated there are 330 million peripheral IV catheters sold in the United States every year representing 150 million IV placements. We estimate there are over one billion peripheral IV catheters sold globally every year. To have such a critical and high-volume medical procedure overshadowed with failure rates of this magnitude coupled with the medical industry’s current focus on patient safety represents an extraordinary opportunity to make a difference.Every failure of an IV results in a drug delivery error and carries the potential for reduced drug efficacy and physical harm. Complications range from skin redness, burning, skin necrosis, compartment syndrome, limb amputation and even death. Unlike continuous monitors available for a patient’s heart rate and blood oxygen level, no technology has been available to continuously monitor an IV site and assess if drugs are actually being delivered to the vein without leakage. We have changed that. We received FDA clearance on a Class II medical device in early 2015 for a first-of-it’s-kind product that continuously monitors peripheral IVs and aids in the early detection of infiltration and extravasation events.This is the first product in our pipeline... Bigger things to come.
