Enterprise Europe Network

Slovenian manufacturer of wearable electrocardiograph medical device seeks distributors and investors

Country of origin:
Country: 
SLOVENIA
Opportunity:
External Id: 
BOSI20190819001
Published
19/08/2019
Last update
30/08/2019
Expiration date
30/08/2020

Keywords

Partner keyword: 
Electronic engineering
Embedded Systems and Real Time Systems
Diagnostics, Diagnosis
Heart and blood circulation illnesses
Electronic measurement systems
Diagnostic services
Electromedical and medical equipment
Medical instruments
Diagnostic equipment
Other Consumer Related (not elsewhere classified)
Manufacture of irradiation, electromedical and electrotherapeutic equipment
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Summary

Summary: 
A Slovenian manufacturer of wearable electrocardiograph medical devices (ECG) is looking for well-established distributors. Partners with established network and sales channels in medical devices market are sought. In order to introduce new innovative diagnostic functionality and reach new markets the company is also seeking equity investors under acquisition or financial agreement.

Description

Description: 

A Slovenian company is manufacturing and selling an innovative medical device for a long-term cardiac activity monitoring. The company is looking for well-established distributors and investors in Europe. Potential partners should be distributors with a network among medical institutes, hospitals and clinics, homes for the elderly and health resorts.

The medical device is a personal device for measuring cardio activity. The device constitutes an electrocardiograph (ECG) sensor, charger, charging dock, mobile application and standalone software for visualization of ECG. Company is further developing real-time diagnostic software application working on smartphone for continuous monitoring of hearth rhythm. Primary aim of application is to detect atrial fibrillation as an asymptomatic event.

The core of the system is a small and light ECG sensor, fixed to the skin using standard self-adhesive electrodes. The ECG sensor measures the user's differential ECG between two proximal electrodes on the distance of approx. 8 cm. The moderate resolution ECG is suitable for a long-term personal cardiac activity monitoring during every-day or sport activities, and for clinical use. With a single charge of the built-in battery, the ECG sensor can run continuously for up to seven days and at least 14 days in stand-by mode. The measurements from the ECG sensor are transferred through a build-in low power Bluetooth BT4.0 radio to the mobile application on a personal digital assistant (PDA), i.e. smartphone or tablet, which provides storage and graphical presentation of the measurements.

User can be a healthy person, person under screening or a patient. The usage of the medical device is not limited by age, sex, body weight or height and other personal characteristics.

The company is seeking distributors which have strong sales channels with specialized stores, medical institutes, hospitals and/or with physiotherapy and rehabilitation clinics, especially in the field of cardiovascular and respiratory diseases. Distributors should be able to provide sales and delivery, and after-sales service such as warranty work. Beside medical institutions, partners having good connections with wellbeing, wellness and fitness wearables are likewise sought. In case the potential partner's activities meet the Slovenian company’s expectation, an exclusive agreement for specific markets may be considered.
The company is also seeking investors for development of additional real time diagnostic functionalities and reaching new markets. Beside distribution agreement, company is offering collaboration under acquisition and/or financial agreement.

Advantages & innovations

Cooperation plus value: 
The main advantage of the wireless ECG medical device as opposed to comparable products on the market is in a combination of the features which enable measurements of user's hearth activity during all day and recording high resolution ECG which is suitable for private and clinical use. This enables detailed analysis of electrocardiographic waves (P wave indicates atrial depolarisation, Q wave represents septal depolarisation, R wave represents early ventricular depolarisation, S wave represents the late ventricular depolarisation and T wave that represents repolarisation of the ventricles) in a longer period, which is important for identifying arrhythmias and other problems. The main advantageous features of the wireless ECG device are: - IP54 standard (waterproof) and extremely light (21 g) design enable all day continuous measurement - Simple to use and small ECG cardio electrodes - Wireless Low BlueTooth (4.0) connection enable transfer of ECG signal to Smart device - Measurement autonomy is up to 7 days - Fast re-charge: 2 hours - Estimated time of use: 24+ months - ECG report can be printed by user or sent in a form suitable for the doctors for further diagnosis - Estimated end user price is below 500 EUR which is one tenth of similar and much less functional products on the market.

Stage of development

Cooperation stage dev stage: 
Already on the market

Partner sought

Cooperation area: 
The company is seeking partners through distribution, acquisition and financial agreements. The partners should have experience in selling medical devices or well-being items. The company is also seeking equity investor to be able to further develop the diagnostic functionality of the device. The European and worldwide distributor should have well-established sales channels with medical institutes, hospitals, rehabilitation clinics, medical institutes, and/or homes for the elderly and health resorts, and/or wellbeing, sports and fitness organizations. Distributors should be able to provide promotion, sales and delivery, and customer service such as warranty work. A partner with a broad knowledge in the field of cardiac activity monitoring and existing sales channels would be ideal. In case the potential partner's activities meet the Slovenian company’s expectation, an exclusive agreement for specific markets may be considered. In case of acquisition and/or financial agreement the equity investor should be able to help company to reach new medical devices markets and to create strategic partnerships which will increase the sales.

Type and size

Cooperation task: 
SME 11-50,>500 MNE,251-500,SME 51-250,>500