Snap40, a Scottish medtech startup that has created an automated remote patient monitoring device, has announced a new $8 million seed funding round, taking total investment to-date in the company to $10 million.
The wearable device, which has been clinically-validated and accurately captures a patient’s vital signs every two seconds, allows carers and healthcare professionals to monitor readings such as oxygen saturation, respiration and pulse rates, temperature, motion and posture either in the hospital ward or remotely at the patient’s home. This in turn allows for a reduction in clinical visits and re-admissions, earlier monitoring of potential risks during recovery and more accurate data for reporting metrics to health authorities.
The medtech platform offers wireless integration with other devices and real-time monitoring equipment allowing for automated collection of other vital signs with no manual input.
In an interview with TechCrunch,Snap40 CEO and co-founder, Christopher McCann, said: “We give the physician access to both real-time and historical, trending data for the patient all on their mobile phone.
“We wanted to create an experience where they could pull their phone out of their pocket and instantly pull up everything on a patient and allow them to see both acute changes e.g. now and long-term chronic changes over time”.
At present the algorithms in the platform allow users to set a variety of rules for each patient to capture real-time information and then create alarms based on the rate of deterioration which can be tailored to individual patients and their profile baselines. Any alarm triggered reaches the right person to alert them at the right time in case of emergency via push notifications and SMS.
We see a future where no life is ever cut short by modifiable factors. We see a world where healthcare comes to you whenever you need it, automatically. That’s the goal we’re building toward.
The company wants to use artificial intelligence and machine learning to do things with data that aren’t possible by human intervention or monitoring, for example using trend data that is constantly fed to the system and monitoring your recovery in line with your progress and national medians, or even combine it with other patients who have been through a similar procedure and adjusting alarms automatically, in real-time, according to those trends which may benefit further.
“If we can do this, with high sensitivity/specificity, then we can wrap this into a digital therapeutic,” McCann added.
Snap40 plans to use the new funding to expand headcount by the end of 2018. The company has an office in New York and its headquarters are in Edinburgh, Scotland.