The global orthopedic implants market valued at $47 billion in 2016 is expected to grow to $75 billion by 2023. To get a piece of that action, lead investors at Vancouver, B.C.-based Quark Venture Inc. are investing $10 million in Chirp data analytics software developed by Vancouver-based Canary Medical Inc. That investment, Canary Medical CEO Bill Hunter told BioWorld MedTech will provide real-time feedback on the performance of orthopedic medical implants.
New medical device platform takes flight: Global Health Sciences Fund invests in Canary Medical’s proprietary, “smart” implant technology designed to improve outcomes in post-surgical patients
The Canary Health Implantable Reporting Processor (CHIRP) uses innovative sensor and novel communication technology in medical devices to enable remote patient monitoring. “Smart” medical devices will self-report on everything from patient activity to recovery and even treatment failure, without the need for physician intervention or a dependence upon patient compliance.
BioScience Managers commits AUS$10M to new joint venture with Canary Medical to serve as a platform to collect and monetize data from implantable and wearable medical devices.