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This Women-Led Healthcare Startup Raises $3.3 Million in Funding to Tackle the need for Better Menopause Care

This Women-Led Healthcare Startup Raises $3.3 Million in Funding to Tackle the need for Better Menopause Care

Elektra Health, a groundbreaking digital health startup catering to women navigating menopause, has announced a significant milestone in its journey. The company revealed on Wednesday that it has secured $3.3 million in extended seed funding, a testament to its commitment to improving menopause care. This latest influx of capital is poised to propel Elektra Health towards its mission of expanding access to high-quality menopause care for women across the United States.

Bridging the Gap in Women's Health

This Women-Led Healthcare Startup Raises $3.3 Million in Funding to Tackle the need for Better Menopause Care

Image Source: techcrunch.com

Founded in 2019 and headquartered in New York City, Elektra Health has emerged as a beacon of hope for women grappling with the challenges of menopause. The company’s innovative approach encompasses virtual clinical care, personalized wellness plans, educational resources, and robust community support. Elektra Health’s services transcend geographical boundaries, with operations spanning New York, Connecticut, Florida, and soon Massachusetts and Pennsylvania. Moreover, the company collaborates with health plans, employers, and individual consumers to ensure accessibility and affordability.

Jannine Versi, co-founder and COO of Elektra Health, underscored the pressing need for comprehensive menopause care, stating, “The healthcare system today privileges the reproductive window and really anything related to family building and maternal health. … I fully agree that we need much better care and support for the maternal health journey, but it should not come at the exclusion of how we care for women so that they can live in good health and have good quality outcomes for those years that follow that menopause transition.”

Strategic Funding Partnerships

The $3.3 million funding round was spearheaded by UPMC Enterprises, the venture capital arm of UPMC, with notable participation from Wavemaker 360, Flare Capital Partners, and Seven Seven Six Fund. Kathryn Heffernan, senior director of strategic product management at UPMC Enterprises, emphasized the alignment between Elektra Health’s vision and UPMC’s commitment to advancing women’s health. Heffernan stated, “Elektra proved to have all the elements UPMC values in this space: evidence-based education and care that prioritizes women’s health needs and drives outcomes.”

With a total funding of $7.6 million, Elektra Health is poised for substantial growth. Co-founder Jannine Versi outlined the company’s strategic focus, which includes forging partnerships with additional payers, expanding its geographic footprint, and bolstering its team. This strategic approach underscores Elektra Health’s unwavering dedication to bridging the gap in menopause care and empowering women to navigate this transformative life stage with confidence and dignity.

As menopause care gains traction in the healthcare landscape, Elektra Health stands at the forefront of innovation, poised to revolutionize women’s health and redefine the standards of care for generations to come. With increasing recognition of the diverse needs within women’s health, Elektra Health’s funding milestone signals a pivotal moment in the journey towards equitable and inclusive healthcare solutions.

Elon Musk's Neuralink to Start the human trial of Brain implant for paralysis Patients

Elon Musk’s Neuralink to Start the human trial of Brain implant for paralysis Patients

Neuralink, a brain-chip business founded by Elon Musk, declared on Tuesday that it received permission from an independent evaluation board to begin hiring volunteers for the first human trial of its brain implant intended for paralyzed people.

Elon Musk's Neuralink to Start the human trial of Brain implant for paralysis Patients
Image Source: ommcomnews.com

The experiment will take into account those who have ALS (amyotrophic lateral sclerosis) or cervical spinal cord wounds that have caused paralysis, however, the precise number of individuals who will participate has not been made public. It is anticipated that the trial will last around six years.

The brain-computer interface (BCI) will be surgically implanted in the part of the brain that controls movement intentions as part of a Neuralink study. The initial objective is to empower.

Neuralink had initially planned to get permission to implant its gadget in ten patients.

However, due to concerns regarding safety highlighted by the US Food and Drug Administration (FDA), discussions with the agency resulted in a probable decrease in the overall number of patients. The precise number of patients who received FDA approval is not yet public knowledge.

Elon Musk has bigger plans for Neuralink, hoping to make it easier to put its chip devices during surgery to treat issues including obesity, depression, autism, and schizophrenia. However, experts agree that even if the BCI gadget proves to be safe for human use throughout this study, it may take the business over ten years to obtain commercial usage permission.

Neuralink had previously announced that it had gotten FDA approval for its first human clinical study in May. However, the business was already being investigated by the government for how it handled animal experiments at the time.

Beginning this human study is a critical turning point for Neuralink and a step closer to realizing Elon Musk’s ambition of cutting-edge brain-chip technology.

Also Read: AI Startup Corti Raises $60 Million to Take on Microsoft in Health Care

Based on a report by WIRED, it is now clouded since concerns have been raised regarding claims made by the multi-billionaire surrounding the deaths of monkeys used in Neuralink’s research. According to the article, a medical ethics organization has requested that the Securities and Exchange Commission of the United States (SEC) look into Musk’s assertions that the deaths of the monkeys had nothing to do with the implants made by Neuralink. The organization contends that veterinarian records show that implant-related issues were the real cause of the animals’ deaths.

Thermo Fisher Scientific

Thermo Fisher Scientific – An Approach to Excel the Healthcare Industry Via Technology

The internet and IT technology boom has helped people bring innovation to various industries. Whether it is for defense, corporate, or healthcare, every other field is trying to get their hands-on advanced technologies to make things simpler for the employees of their industry as well as the end-user of their products. Thermo Fisher Scientific is one such company that has been working towards the advancement of the healthcare industry so to ease out things for the health workers and provide better options for its customers.

A Brief Introduction

Thermo Fisher Scientific is an American Laboratory equipment company, which is the result of a merger between Thermo Electron and Fisher Scientific, the former being a leading provider of instruments and analytical services and the latter one of the well-known biotechnology companies of America. The company works in the field of manufacturing scientific instrumentation, reagents, and supplying consumables. Other than that, the company also provides software services to healthcare, life science, and laboratories in academies, etc. The company also ships products to some of the government departments and other industries.

The Founding of Thermo Fisher Scientific

Though the company is a resultant company of a merger and was established in 2006, its history dates back to over a hundred years from now. George N. Hatsopoulos and Peter M Nomikos founded Thermo Electron (one of the merged companies) in 1956. The company started as the supplier of analytical and laboratory equipment. On the other hand, Fisher Scientific was founded by Chester G. Fisher in 1902. The company sold the laboratory equipment, chemicals, supplies as well as provided services in healthcare, scientific research, safety, and education.

After ruling their respective industries, in 2006, Thermo Electron and Fisher Scientific decided to merge and unify their operation. This way, the company became a single company. The merger was a stock-for-stock exchange tax-free partnership between the two companies. After combining their operations, the company had 30,000 employees, and the annual revenue for the two as one company was recorded to be US$9 billion.

Thermo Fisher Scientific
Image Source: thermofisher.com

Currently, Thermo Fisher Scientific is dealing in the products like Analytical/other equipment and instruments, laboratory reagents and consumables, science software, and services for research, discovery, analysis, and manufacturing. Though the companies have combined their operations, Thermo Fisher Scientific manufactures and supplies the products with brand names Thermo Scientific and Fisher Scientific. Other than these two, the company also ships products under the brand names like Chromacol, Nalgene, Cellomics, Pierce Protein Research, and Fermentas. Despite being a major dominant in the American market, Thermo Fisher Scientific has also expanded into Europe and some Asian countries, including China.

Acquisitions by the Company

Thermo Electron and Fisher Scientific already had about 15 companies acquired under their name before the merger. And after the merger, in just fifteen years, Thermo Fisher Scientific made approximately 50 acquisitions. The major acquisitions by Thermo Fisher Scientific include Phadia (2011), autoimmune (2011), Life Technologies Corporation (2013), Advanced Scientifics (2015), Alfa Aesar(2015), Affymetrix (2016), FEI Company (2016), Finesse Solutions, Inc. (2017), Patheon (2017), Brammer Bio (2019), Qiagen (2020), Henogen SA (2021) and PPD, Inc. (2021), etc.

Thermo Fisher Scientific Today

It hasn’t been long since Thermo Fisher Scientific started to work as an individual company. But despite that, it has reached new heights and has made its separate identity other than its parent companies. Today, it is counted among the Fortune 500 companies and has been making annual revenues of more than $20 billion. Today the company is serving worldwide, and over 70000 people are working for it. The company is public and trades on NYSE as TMO. The company headquarters is established in Waltham, Massachusetts, U.S., and has its various offices in different parts of the world.

The CEO at Thermo Fisher Scientific

Marc N. Casper is the CEO and the president at Thermo Fisher Scientific. He has been serving as the CEO of the company since 2009, and other than that, he is a member of the boards of trustees of Brigham & Women’s Hospital, Wesleyan University, as well as the board of U.S. Bancorp.

Casper completed his Bachelor’s degree in Economics from Wesleyan University and an MBA degree from Harvard Business School. In 1997, he became the president at Dade Behring. In the year 2000, he joined Kendro Laboratory Products as the CEO and the president of the company and worked for one year. Casper joined the Life Sciences sector of Thermo Electron in 2001 as the president.

Touch Surgery

Touch Surgery: Digital Innovation Empowering Medical Sciences

Edtech is one of the booming industries today, and would you believe it if we tell you that you can also learn the complete procedure of a surgery simulated in an operating room on your smartphones? Believable enough, but most of us would have not thought of it yet, right? Medical studies are the most expensive of all and getting to see and learn the procedure for all types of surgeries is not even possible for those studying medical sciences. The same thought came into the minds of two medical residents at the Imperial College London, Jean Nehme, and Andre Chow, and they end up developing Touch Surgery.

Touch Surgery

Touch Surgery has played a vital role in transforming the medical world with the help of digital technology. It is a training app for medical students that simulate surgical procedures, validated by 19 independent peer-reviewed publications. The company Digital Surgery LTD is the parent company of Touch Surgery, having its headquarters in three major cities, i.e. London, New York City, Auckland, and Sydney. In the beginning, the company name was Kinosis and later was changed to Digital Surgery, to reflect the border scope and mission of the company.

Digital Surgery is a healthcare technology company that is using digital technology to help in making all the surgeries even safer. The app includes a near to reality simulator and AI-powered surgical video management platform, offering accurate surgical content for the doctors to enhance their skills and for the medical students to practice in the operating room.

The interactive simulator of Touch Surgery helps the medical trainees to learn the step-by-step surgical procedure and test their knowledge and skills related to medical operations, through the simulator. Most importantly, it helps in enhancing their skills of decision-making in a real-time environment. The app has also proved to be useful for patients who are about to go under surgery. They use this app to know more about their surgical procedure.

Digital Surgery tied up with Microsoft in 2018 to use Microsoft’s under development Microsoft Hololens (mixed reality smartglasses for surgery) to accomplish the company’s mission of safe surgery for all. The app includes around two hundred surgery training in seventeen different specialties and is used by many medical institutions to provide the ‘to-be doctors’ with a great learning experience. Currently, the app has got over 2 million users registered to it. The Dublin-based Irish company Medtronic, a Medtech conglomerate, acquired Touch Surgery for an amount of $500 million in 2020.

The Idea Behind Touch Surgery

Jean Nehme and Andre Chow the co-founders of Touch Surgery was still working as medical residents at the Imperial College London when they thought of the idea. Since the two were residents, they did not have the access to the resources that could help them enhance their skills as a surgeon. They realized that most of the medical students do not get to try their hands on all types of surgical procedures lacking additional experience. The only source to help them to enhance their skills was surgical simulators, but these too were too expensive to get.

This led the two to think of a cheaper and more accessible simulator for all, i.e. Touch Surgery. They discussed the idea of Touch Surgery in 2010 and founded the app in 2012. The idea was innovative and useful so, they easily got connected to many investors for their research and development work too. Today, Touch Surgery has partnered with numerous surgeons, combining their expertise and digital technology to empower the surgical community.

The Founders Touch Surgery

Jean Nehme has got an MBBS BSc MRCS MSc (Hons) and specializes in plastic surgery. Nehme is an awardee of multiple awards for his research work in innovation and his contribution to digitizing medical education. He has been named as one of the most influential 500 people in the UK by Debrett. On the other hand, Andre Chow is a general surgeon.

Touch Surgery Founders
Touch Surgery Founders: Andre Chow and Jean Nehme
Image Source: balderton.com

Both the co-founders graduated from the Imperial College School of Medicine in London. During the time, the two thought of developing Touch Surgery, Chow was pursuing a Ph.D. in Stem Cells and Biotechnology. Currently, Jean Nehme is working as the CEO, and Andre Chow is working as the COO of Touch Surgery.

PIVOT Smartflow

How PIVOT Smartflow is Changing the Healthcare Industry by Streamlining Sterile Processes

The recent months have shown people the importance of medical care in all our lives. As a result, the attention on companies focusing on Medtech has also increased exponentially. Around the world, there are a lot of companies that are trying to make things easier for medical professionals. Medical automation had been gaining prominence in recent years due to massive advancements in AI and ML technology. This time around, we will be taking a look at another Medtech company that has been making quite a few ripples in the healthcare space – Pivot Smartflow.

Early Beginnings

Pivot Smartflow, a Mumbai India based company was founded in 2017, by Radhika Bawa and Aditya Bawa. Since then, the company has grown in terms of business and capabilities over the years. The pair has experience working within the healthcare space for over two decades. It was this experience that helped them understand how underprepared hospitals were in moving into the future – especially in the critical area of Sterilisation process management – a process that is at the heart of infection control in hospitals. Hence, the pair made it their life’s mission to ensure that hospitals move ahead with the times and start digitalizing &automating key tasks. Thus, the idea of Pivot Smartflow was conceived. Today Pivot Smartflow provides services to some of the top hospital chains in India.

Radhika Bawa (Managing Partner, Co-Founder), Aditya Bawa (Partner, Co-Founder)
Image Source: pivotsmartflow.com

What is Pivot Smartflow?

Surgical instruments are an integral part of patient care. Hence, monitoring and sterilizing them are vital components of the infection-free healthcare process. However, monitoring, maintaining, cleaning, and ensuring that they are available for surgeries is a time-consuming process for hospitals. But, what if there was a way to ensure that all of this happened seamlessly? Well, that is precisely what Pivot Smartflow does. The application effortlessly streamlines the workflow of surgical instruments. It also helps in eliminating the uncertainties due to misplaced tools and uncleaned instruments. As a result, the Software effectively reduces wastage of time and adds value to patient safety.

Essentially, the tool digitally integrates the Central Sterile Services Department, better known as CSSD to caregiving units. As a result, the program tracks the availability and allocation of instruments to ICUs and Operating Rooms with ease. Such a route management system enables traceability, tracking, and documentation of resource allocation. The Pivot Smartflow system works on a pay-as-you-go model. It leverages Barcodes and RFID to track the instruments, simplify monitoring, and ensure that the right sets are always available for procedures. As a result, hospitals have a much easier time managing patient care, and streamlining their surgical preparatory work.

How does Pivot Smartflow work?

Pivot Smartflow tracks the movement of surgical instruments across the hospital workflow by using RFID readers and barcode scanners. As a result, hospitals gain a birds-eye-view of the entire life cycle of their instruments. Let us now quickly take a look at the workflow process of the Pivot Smartflow system:

  1. Pivot Onboard: We help you digitize your existing inventory so that you can standardize operating procedures and terminology to prevent errors.
  2. Inventory Verification: The team does an audit of your existing inventory to highlight discrepancies and find errors in data collected.
  3. Creation of photo libraries and master lists: Next, the software creates an extensive master list of instruments with photos of each to simplify the allocation process.
  4. Unique ID solutions: Next, comes RFID tagging/laser etching of barcodes on the instruments to enable real-time tracking.
  5. Life-cycle record: By scanning any barcode or scanning an RFID tag, the staff can access the entire life and usage history of the instrument, improving accountability and improved efficiency.
  6. Workflow Digitisation: Finally, the entire workflow is digitized to ensure that human error is minimized and avoided. The system also generated documentation for regulatory compliance regarding sterilization processes followed at the hospital.
  7. Pivot Set-Store: This tool works as a visual store-room providing users with real-time access to their inventory.
  8. Surgical Whiteboard: This helps nurses to keep track of instruments used on a patient.
  9. Sterilization and Repairs Management: Both these modules enable hospitals to manage their product lifecycle perfectly.

Components of the Pivot Smartflow System

  • Web-Based and Mobile Application: The application tracks all your instruments as they make their way across the hospital in real-time.
  • Unique Instrument Identification: The system relies on RFID and Barcoding to track surgical instruments throughout their life cycle.
  • Integrated Workflow Processes: The system enables the seamless flow of information and data across multiple departments efficiently.
  • Task Automation: The software allows professionals to automate mundane tasks, locate instruments, and avoid human error.

What value does Pivot Smartflow add to hospitals?

Since the staff has real-time knowledge regarding their instruments, they can avoid guess-work and chances. The system also helps in measuring the wear and tear faced by instruments, enabling hospitals to extend tool life considerably. It introduces accountability in an otherwise manual process helping hospitals plan inventory better, makes surgeries safer, and improve the efficiency of their caregiving teams.

The software provides professionals with a lot of vital data regarding cycle count, employee productivity, breakages, and incident tracking. As a result, healthcare specialists always get updated reports regarding the instrument’s condition. The system seamlessly integrates itself into existing Hospital Information Systems. As a result, the framework becomes more efficient, accurate, and productive. The flow of data between departments and their accuracy improves exponentially due to Pivot Smartflow.

Why Choose Pivot Smartflow?

Pivot Smartflow offers several advantages to several user groups. Let us now take a quick look at why hospitals, caregivers, and patients support the use of this revolutionary software in healthcare.

  1. CSSD departments have to no longer worry about identifying or tracking their instruments.
  2. All the inventory management happens in real-time, enabling hospitals to stock accordingly. 
  3. The software goes a long way in optimizing the life-cycle of the instruments. 
  4. When used in large hospitals, the tool enables intra-department integration, visibility, and communication.
  5. It significantly reduces the chances of losing or misplacing instruments.
  6. Using the tool sharpens the turnaround time in OTs and ICUs.
  7. Due to the improved efficiency of the medical team, it helps in improving overall patient safety.
  8. It enables the primary caregivers to spend less time looking for sets & instruments and more time focusing on the patient.
  9. Using the tool also helps in preventing and avoiding human errors during instrument hand over.
  10. The hospital management will be able to gain a higher return on investment from their surgical instruments.
  11. It also enables the hospital to manage their resource allocation effectively, leading to less wastage.
  12. Such a data-driven decision-making process ensures complete accountability for all instruments.

As you can see, the future of medicine is here. Hospitals will no longer have to worry about overspending on surgical instruments and running higher incidental costs. The use of smart software, such as Pivot Smartflow will empower hospitals and healthcare professionals in a way that wasn’t possible before. With more and more hospitals looking to modify and adopt new technologies, it is safe to say that the future of this company looks promising and bright. Let us hope that in the years to come, every Indian hospital gains an opportunity to use such cutting-edge technology to provide better care to its patients.

omnivis

OmniVis : Medical Science Meets Technology to Make the World Better and Disease Free

In the bigger picture, the present condition of our world is no less than mayhem. On the one hand, science is creating wonders with technology making our lives easier but on the other hand, millions of people are dying every day due to lack of treatment and development in medical science. Who is to blame for this? Are we way too ignorant to make significant contributions in the medical community? Or the price is so high that we have blatantly stopped trying? There are so many people dying every minute suffering from incurable diseases or due to late detection of infections in their body. Though the renowned and biggest research centres of our world are working together to invent instruments that can easily detect diseases, they are way too costly for common citizens.

With the zeal to alter the future of our world and stop it from destruction, four scholars of Purdue University, Katherine Clayton, Tamara Kinzer-Ursem, Jacqueline Linnes and Steve Wereley, came up with a unique solution to detect infectious and deadly diseases, which are both times efficient and affordable. With the mission to create affordable medical equipment, these four enlightened minds founded OmniVis, a company that will reach out to common people, help them detect disease and make out society better in terms of well-being.

Founders of OmniVis

Currently, Katherine Clayton is the CEO of the company with Ursem, Linnes and Wereley working as the Advisors.

Katherine Clayton Founder OmniVis
Image Source: halcyonhouse.org

Clayton, who is originally from San Francisco, went to Pursue University to complete her PhD in mechanical engineering. When she was an undergraduate student, she had already decided to work with healthcare products and make easy infection and disease detection equipment available to common people. When Clayton was a kid, she lost someone very close to her, due to the absence of better tools in the medical field, and hence, this was the beginning of her dream to do better for the community. She, with other three scholars, co-founded OmniVis in 2017, and since then, it has received worldwide support and funding.

Ursem is associated with Weldon School of Biomedical Engineering as an assistant professor which is under Purdue University. Her main area of research involves molecular biology, computational biology and neuroscience.

Linnes is also an assistant professor in the Weldon School of Biomedical Engineering as well. The Linnes Lab basically works to create technologies that can detect pathogens in a time-efficient way and stop them from propagating. She also has her own start-up, PotaVida founded in April 2010. The company’s goal is to develop pocket-friendly water purifiers and reach to the rural areas of the entire world.

Currently, Wereley is a professor at the School of Mechanical Engineering at Purdue University. His specialised fields are fluid mechanics and optics. He is also the founder of a company called Microfluidics Innovations.

The Idea

Since all of them belonged to a strong research background, OmniVis emerged out as a successful idea. More than a business, it is really an idea that inspired every company, research institutes throughout the world. OmniVis has created products that can detect Cholera with less than an hour with its concepts and techniques.

Currently, OmniVis works with iPhone but soon it will incorporate the software in Android and start testing the beta version. OmniVis works in a simple process with few steps, collect the sample, detect pathogen and map location. OmniVis detects and shows the location on the map from where the sample was taken to alert the authorities. And all of these are getting done within 30 minutes with the technology of OmniVis.

The Achievements

In 2017, OmniVis acquired the first place in Vodafone Wireless Innovation Project funded by Vodafone Foundation. In 2018, OmniVis was nominated for World Changing Idea Finalist. In June 2018, the company received Phase I SBIR Grant from National Science Foundation. In the same year, OmniVis won the 2018 AMPLIFY Pitch Competition where participants from 46 different countries participated. After winning the Biological Innovation Award in February 2019, OmniVis took a step ahead and expanded out of Indiana. In May 2019, the team reached out to Bangladesh and shared the benefits of OmniVis products with them.

Some of the major investors at OmniVis are Vodafone Foundation, Deloitte, Fast Company, Purdue University, halcyon and many more.