EarlySense eyes RPM growth with sale of contact-free monitoring tech to Hillrom
EarlySense, a vendor of contact-free continuous monitoring technology, has sold some of its assets to Hillrom, which develops connected care and collaboration tools.
WHY IT MATTERS
EarlySense will receive licensing for all intellectual property and technology sold to Hillrom for use outside the hospital, as well as $30 million potential payments – based on the achievement of certain commercial milestones – and a portion of Hillrom's equity investment in EarlySense.
EarlySense technology allows for the continuous monitoring – more than 100 times per minute – of patient heart and respiratory rates without anyone ever touching the patient.
The technology also alerts clinicians to potential patient deterioration events much earlier than traditional monitoring methods, the company says. This technology serves as the engine for EarlySense remote patient monitoring devices, helping bring hospital-grade patient analytics to care settings outside the hospital.
"EarlySense's contact-free continuous monitoring technology provides caregivers with a full picture of patient health, allowing for intervention at the earliest signs of patient deterioration," said Hillrom president and CEO John Groetelaars. "We look forward to bringing this critical technology to additional customers around the world as we deliver on our vision of Advancing Connected Care."
THE LARGER TREND
Connected health devices run the gamut from wearable heart monitors to Bluetooth-enabled scales and Fitbits. They provide health measures of patients and transmit them back to providers (or in some cases they're reported back to providers) to facilitate healthcare decisions from afar.
Remote patient-monitoring technologies are akin to telemedicine technologies, since they automatically observe and report on patients (often ones with chronic illnesses) so caregivers can keep tabs on patients remotely.
In the middle of the COVID-19 pandemic, connected health and RPM are more important than ever, because they enable physicians to monitor patients without having to come into contact with them, so preventing the spread of the novel coronavirus.
They also keep patients with less severe cases out of hospitals, so preserving precious bed space for patients with severe cases. Hospitals across the nation are using connected health and RPM to great effect during the pandemic.
Healthcare IT News assembled dozens of connected health and remote patient monitoring vendors in a massive special report. To read the report, click here.
ON THE RECORD
"We set out to save lives and improve care by implementing AI-based contact-free patient monitoring in healthcare facilities across the globe," said Matt Johnson, CEO of EarlySense.
"We made great progress by becoming the standard of care in Hillrom's flagship Centrella Smart+ hospital bed," he said. "Our technology has already monitored more than one million patients and helped clinicians save tens of thousands of lives, and we expect to accelerate this significant impact as a result of this technology sale to Hillrom.
"The COVID-19 pandemic has created historic opportunities for smart health technologies outside the hospital, and this transaction will allow us to continue serving our global customer base and apply our clinically proven technology to this high-growth sector," Johnson added.