HOLISTICS CONSORTIUM AWARDED €7.4M UNDER IRISH STATE DISRUPTIVE TECHNOLOGY INNOVATION FUND
DATE: 18th December 2018
An Taoiseach, Leo Varadkar TD and Minister for Business, Enterprise and Innovation, Heather Humphreys TD unveiled a total of 27 innovative projects who are sharing over €75 million in funding between now and 2021 under the first tranche of the Disruptive Technologies Innovation Fund.
The Disruptive Technologies Innovation Fund is a €500 million fund established under Project Ireland 2040 and is run by the Department of Business, Enterprise and Innovation with administrative support from Enterprise Ireland.
Announcing the successful projects, An Taoiseach said: “The creation of this fund is particularly timely when we consider the vast and rapid technological advancements that are taking place. Today everything is faster, more efficient, and more easily accessible. We must adapt to a future of greater digitalisation and automation. Today’s school children will be employed in jobs and industries that don’t exist yet. Technology will eliminate or transform existing occupations.
“We are currently developing a new Plan, the Future Jobs Initiative, to meet these challenges and ensure we assist industry to create and sustain good jobs for our people in light of future challenges and opportunities. The Disruptive Technologies Innovation Fund is central to the Future Jobs Programme. It’s our way of stimulating private investment in new technologies and ways of doing business, and building stronger links between higher education, multinationals and Irish SMEs.”
One of these key projects, the HOLISTICS project will create, for the first time in Ireland, a disruptive Smart Wearables Industry Value Chain to deliver end-to-end HealthTech solutions based on emerging human-centric intelligent sensors and their wireless communication of medically validated data sets to support new products and services in the areas of Health and Wellness. More than €7.4 million will be invested in the project, which is led by Tyndall and includes 9 industry partners of which PMD Solutions is one.
PMD Solutions’, CEO Myles Murray says “This fund will accelerate the advancement of PMD’s innovative technology, thereby expanding its utility into new clinical specialities. Thereby serving a broader population of patients and making a bigger overall impact on the quality of care alongside healthcare professionals. Innovation is at the core of Irish SME’s and working with such a broad and experienced consortium is a significant advantage that will positively impact the global patient population.”
With a vision to improve patient outcomes by #MakingEveryBreathCount and understanding the complex and dynamic mechanics of breathing, PMD Solutions has demonstrated visionary excellence with RespiraSense™ and earned Frost & Sullivan’s 2018 Visionary Innovation Leadership award. This award underscores the commitment of PMD Solutions to develop an innovative solution for the unmet for reliable and continuous respiratory rate (RR) monitoring, to enable medical teams to use this sentinel vital sign as an early predictor of deteriorating patient health in acute care.
RespiraSense™ is the world’s first respiratory rate wearable specifically designed for trend monitoring of acute patients. RespiraSense™ is a novel technology that provides medical staff with an alert to abnormal breathing, one of the earliest signs of possible patient deterioration from conditions such as respiratory compromise, worsening pneumonia, increasing the severity of sepsis, and oncoming heart attacks, through trend monitoring respiratory rate. Respiratory rate is shown to be the earliest and most sensitive sign of patient deterioration. The benefit of having RespiraSense™ is that it can support the timely identification of deterioration, leading to improved interventions, resulting in better patient outcomes – lower length of stay, fewer preventable ICU admittance, and lower cost of care. RespiraSense™ has been successfully trialled in the perioperative setting and it is a timely technology that will address the global clinical need for robust monitoring of patients on the general and post-operative care floors.
About PMD Solutions
PMD Solutions is the leader in non-invasive respiratory rate monitoring solutions. PMD is focused on developing innovative and patient-friendly technologies to support healthcare provider’s early prevention model of patient care. Established in 2011 on a fundamental clinical need to measure patients breathing rates, which is amiss, is a significant indicator of deterioration, the company develops groundbreaking medical devices for the monitoring and diagnosis of respiratory conditions with the fundamental belief of making every breath count. With several clinical applications, the primary focus of the technology addresses the global technological deficit of accurate and continuous respiratory rate monitoring. Core products include class-leading continuous and motion-tolerant respiratory rate monitors and population sleep screening diagnostic devices.
PMD Solutions operates from Cork, Ireland, a region recognised as one of the largest exporters of medical products in Europe and one of the five global emerging medical device hubs.
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