Proving the Business Case for the Internet of Things

CardioComm, Vigilance form ECG monitoring JV in US

Iain Morris
June 18, 2014
 
Software company CardioComm has teamed up with remote-monitoring specialist Vigilance to facilitate its entry into the US market for electrocardiogram (ECG) monitoring.

The two companies have formed a joint venture they say will focus on developing remote monitoring services for patients suffering from arrhythmia and other heart conditions.

Cardiocomm (Victoria, Canada) is to provide ECG-based software technologies to the joint venture in exchange for taking an 8% share in Vigilance (Illinois, USA) and another 8% following the introduction of HARMONYcied, a web-based patient management system Vigilance is developing for patients using cardiovascular implantable electronic devices (CIEDs).

It will also receive a 3% share of the gross margin from ongoing Vigilance operations.

Cardiocomm says the joint venture will present opportunities to license new services to clinics and hospitals.

“This partnership with the Vigilance team will give CardioComm Solutions access to recurrent service-based revenue from the growing patient ECG monitoring markets within the USA,” said Etienne Grima, CardioComm’s chief executive. “Our … technology platforms will provide exceptional latitude for custom and proprietary development of solutions for Vigilance that will address unmet needs in operationalizing reimbursable centralized patient monitoring and clinical follow-up services.”

Vigilance believes the tie-up will allow it to “cross multiple monitoring verticals” and offers a “perfect fit” with its own initiatives and growth objectives.

“The … technology suites offer a proven and innovative platform for our continued development of service offerings for ambulatory patient monitoring, cardiac research and our introduction of the proprietary HARMONYcied, web-based, patient management system for CIED patients across all implantable device vendors,” said Robert Cantwell, the vice president of marketing for Vigilance. “There exists a critical need for more effective device patient management and follow-up and our collaboration with CardioComm will produce beneficial and short-cycle solutions for patients and providers alike.”

CardioComm further believes the joint venture will help it to become the preferred provider of remote patient monitoring services among cardiology-based healthcare providers in the US.

“The strategic alliance will offer a comprehensive solution as an alternative to the present and fragmented, multi-provider, ambulatory and device patient monitoring market which represents a significant market opportunity and outstanding revenue generating potential,” said Daniel Pawlik, vice president of sales and marketing for ECG technologies at CardioComm.
 
 
Other News
 
GTX's Goal: Empower a New Era of Personal Location Services and Wearable Technology
 
GTX Corp provides wearable technology incorporating miniaturised devices for tracking people and valuables.  
Read Full Story>>
 
Wireless Mesh Technology Used in Life Saving Application

Low power consumption and low cost of the Zigbee modules have provided an alternative to wired systems, also the ease of retrofitting in buildings where running cables would be disruptive and time consuming.
Read Full Story>>