From MedTech Strategist – July 8, 2020 Article Summary Since March, years of Darwinian-style stepwise medical evolution have collapsed into four months of disruptive change in medical practice because of the needs created by the global coronavirus pandemic. Remote patient monitoring is benefitting from the shift, with two barriers being removed in one fell swoop: reimbursement, and the re-education of physicians. Start-ups Canary Medical and Intelligent Implants are seeing brighter prospects for their smart orthopedic implants. Download the full article here (PDF)
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.