Pasadena, CA January 26, 2017- Geneva Health Solutions (formerly Geneva Healthcare) announced it raised $1.9 million to expand its Cardiac Remote Monitoring Solutions business to cardiology providers to help manage patients with implanted cardiac devices beyond the walls of the practice. Nebraska Medicine, an early adopter of the Geneva Health Solutions technology platform and a leader in health information interoperability, is an investor in the current round along with Don Cohn, a San Diego business leader.
“We are entering an exciting time for data-driven patient care especially as more medical devices provide the ability to push data remotely, beyond the hospital or doctor’s office walls. Cardiology practices have limited time and resources to manage the firehose of remote monitoring data coming at them from cardiac devices. We are bringing the best in technology, telehealth and consulting in a combined solution set for the practice,” said Yuri Sudhakar, CEO of Geneva Health Solutions (GHS). “This funding will allow us to speed up onboarding of cardiology practices across the country on to our platform.”
Patients with implanted cardiac devices, like pacemakers and defibrillators, can transmit critical cardiac data from their implanted device from home to the provider via the cloud. These transmissions allow providers to monitor their patients proactively for both routine device follow-up and for alerts regarding device issues or clinical events, like new arrhythmias and indicators of heart failure. The GHS platform aggregates cardiac device data from the four major device manufacturers remote monitoring portals.
“With the explosion of remote monitoring data, GHS solves a critical need in the market,” said John Windle, professor of cardiology and practicing electrophysiologist at the Nebraska Medicine Heart and Vascular Center. “We were impressed with the company’s ability to effectively document clinic workflow and build those processes in the platform, including integration with our EMR. The platform is purpose-built for data flows today and tomorrow.”
Mordor Intelligence, in a new market research report “Global Telemedicine Market-Growth, Trends & Forecasts (2015-2020)” says the global telemedicine market will be worth more than $34 billion by the end of 2020. Researchers say market growth is being driven by an aging population, increasing chronic diseases and rapid rise in the software market. In May of 2015, Heart Rhythm Society, the largest professional organization of heart rhythm care specialists, recommended that remote monitoring of implantable device patients become the standard of care in lieu of traditional in-office only care.
“Nebraska Medicine is excited about investing in promising remote monitoring and telehealth companies like Geneva Health Solutions. We see Geneva becoming an integral platform and service as medical device interoperability expands in the cardiovascular area. Their strategic vision to build a platform that continues to aggregate more and more device data fits our investment goals”, stated Michael Ash, MD, Chief Transformation Officer of Nebraska Medicine.