UK developer of wearable healthcare technology solutions seeks distributors and joint venture partners
This UK-based company has developed wearable healthcare technology solutions and integrated healthcare applications, for use by both consumers and professional healthcare providers. It is looking to develop further the overseas markets for three of its wearable products and is interested in both distribution and joint venture agreements with suitable partners. The firm is also open to acting as a subcontractor for other companies in the healthcare technology field.
Partners should be experienced in the healthcare field and will probably be offering complementary products or working in complementary health technology sectors. Appointed distributors should have excellent links into the healthcare market and ideally would be able to provide technical support if required. They would be required to promote and sell the UK company’s product offer. Joint venture partners would probably be offering complementary healthcare technologies or services but must be willing to set up a joint operation, as a way of adding value to their current offer. Other potential partners will be wearable healthcare device manufacturers seeking to partner with the UK firm for development / production of their healthcare technology solutions (hardware and / or software) on a subcontract basis.
This award-winning UK company specialises in the development and marketing of a range of healthcare technology products, with the aim of revolutionising the way health and wellness is measured. Initially, the company focused on the provision of solutions for healthcare professionals, hospitals etc, but more recently it has also developed products targeted at the consumer market. The wearable devices developed by the company allow for real-time monitoring of a range of clinical physiological data, including the heart rate, respiration, temperature and blood oxygen. These patient vital signs can be measured every second, 24/7, providing clinicians with continuous monitoring and accurate clinical reporting. They are CE approved for medical use. The product range of the company includes: • A mobile cardiac telemetry product, comprising a wearable biosensor patch which sticks to the chest (self-adhesive) and provides high quality measurements including a near flawless and wireless ECG (ElectroCardioGram) signal continuously for 5 days. This signal is delivered in real-time to the company’s servers, where dedicated and highly trained analysts review the data. The patch replaces the cumbersome equipment which patients have traditionally been required to wear in order to monitor the heart’s performance. • A wearable health monitor, suitable for clinical settings, where it can be used by healthcare providers to monitor the patient continuously, both inside and out of hospital. This solution is the world’s first fully-disposable, single-use vital signs biosensor which allows remote monitoring of the heart and respiration rates, temperature, movement and EGC. Data is sent in real-time via Bluetooth to mobiles and the cloud for monitoring and analysis. • A wearable health band which provides a global health tracking device specially designed for the elderly and other at-risk users, in order to keep a secure track of their wellbeing. The functionality includes GPS (global positioning system) tracking, two-way voice calls to family / health control centres, fall detection, SOS button and heart rate monitoring. The product is used in dementia care and nursing homes, but also for lone / shift workers and other vulnerable adults or young people. The products were initially launched in the UK, but are now being marketed globally. As part of its international growth strategy, the company now wishes to find partners overseas and is open to potential collaboration in three ways: • The appointment of distributors, ideally with experience of selling complementary products in the healthcare technology market; • The creation of a joint venture with a partner willing to collaborate in the development of the market for wearable healthcare technologies and interested to add to the UK firm’s current offer; • Through offering hardware and software services, on the basis of a subcontracting agreement.
Advantages and innovations
The UK company offers the following advantages to potential partners: • The opportunity to work with a company operating at the cutting edge of wearable healthcare technology and to collaborate with it in its aim to revolutionise the future of healthcare; • The products are certified medical grade (Class IIa) and carry relevant CE marking. They are also FDA (US Food & Drug Administration) approved; • The biosensor patches are small and discrete and eliminate the need for chest straps, wrist bands, wires and recorders which patients are traditionally required to wear. They are easy to use and comfortable, whilst at the same time allowing continuous real-time monitoring and accurate clinical reporting; • For the mobile cardiac telemetry product, a full support package is provided by a team of trained analysts who work 24 hours a day, 7 days a week and who are able to identify any significant change in the patient’s ECG and alert the physician accordingly; • A large randomized trial of the wearable health monitor technology resulted, inter alia, in a 45% reduction in mortality rates, a 20% reduction in emergency admissions and a 14% reduction in bed days; • The company has won several awards, including an innovation prize in the UK Business Awards in both 2016 and 2018, and one of its consumer mobile applications has been recognised by the UK Government as one of the top 5 mobile healthcare applications available for the public in the UK.
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