MassDevice is liveblogging the MassMEDIC 11th Annual Medtech Investors Conference. We’re talking to the officers and executives of some of the hottest under-the-radar medical device firms around, finding out how and why their technologies will separate them from the pack.
OmniMedics, Melrose, Mass.
OmniMedics is developing a Band-Aid-sized emergency signaling device for sudden cardiac arrest.
Ron Greene, CEO
Jim Miraldi, COO &CFO
Unexpected sudden cardiac arrest is the most common cause of death in the US. Each day, approximately 1,000 Americans are the victims of SCA. More than 70% of SCA victims can be saved with minimal damage. Unfortunately, today, fewer than 2% of out-of-hospital SCA victims are saved.
The HeartStrip System is the missing link between the current SCA resuscitation rate of 2%, and the potential to save more than 50%. A band-aid sized wireless electronic patch that immediately signals for help, HeartStrip can potentially save hundreds of lives each day with a cost-effectiveness that compares favorably to that of many standard medical procedures.
In HeartStrip’s first target market of congestive heart failure patients (which number approximately 5 million in the US, with 500,000 new diagnoses each year), fully 50% of patients will eventually suffer an SCA. This market alone represents a $ 0 billion per year opportunity for the company.