NETANYA, Israel, June 24 /PRNewswire/ -- Veinomed Limited announced,
today, that they had been chosen to present their "Vein-o-Spot" device, as one
of 55 early stage medical technology companies, at the forthcoming Medtech
"Investment in Innovation Preview" to be held in San Francisco on 26th-28th
June.
Over 12 % of the U.S population will try and avoid going to doctor's
clinics and blood laboratories to give blood samples for routine testing.
These healthy people know that what to most is a simple, if unpleasant
experience, will cause them pain, anxiety and leave their arms with extensive
bruising. These patients, more often women, have arm veins that are located
deeper in the arm or are positioned differently from the remaining population.
Difficult vein location also affects 25 % of hospitalized patients by day 3 of
their stay and is a well known condition of the elderly and those that have to
give blood samples or have to receive injections on a frequent basis.
VeinoMed has been developing a family of clever devices that are based on
state of the art, computerized low noise I.R scanning, signal processing,
identification and decision making software. The devices not only calculate
the depth and diameter of all available veins but also, then, indicate with a
light spot, the optimum vein to take the blood sample. The entire scan and
decision process takes seconds and the device's tourniquet allows the device
to be incorporated as part of normal blood sampling activities.
Veinomed's technology has been proven in clinical tests and the company
holds a PCT patent. Its' US patent application is expected to be approved any
day. Beta site testing of the first stand-alone working models should start
by end July at one of Israel's leading teaching hospitals. Further studies
will be carried out in USA hospitals.
A US marketing survey carried out by Hospital Research Associates
indicated that 63 % of 286 respondents, phlebotomists, nurses, med-techs, IV
Infusion Nurses, that were canvassed, are looking for a device to help them
carry out their work more successfully.
Veinomed's development team are based at Truphatek's facilities in
Netanya. Truphatek, a medical device manufacturer, has been assisting the
project both with management and financial support. Other funding has come
from S.C.C & Associates, a Venture Capital Seed Project Fund that invests in
innovative medical devices and other life science projects and from Israel's
Chief Scientist of Industry's Office.
David Grey, Truphatek's Chief Executive Officer, who has direct
responsibility for the Veinomed activity, stated: "We are very excited that
Veinomed's first product is ready for final trial work and FDA(510K)
permission to market registration. Our studies, so far, indicate a market
potential for our first "Vein-o-spot" device of 3 million units worldwide,
worth US $ 2.4 billion. Development of our second range of devices, our
"Vein-o-access" models for venous infusions is following a year behind.
Our next objective is to identify suitable strategic marketing partners
who have already indicated a proven track record for selling products to
doctors practices and hospital clinics. We expect to be paying repeated
visits to the USA over the next months to carry out discussions with
interested parties and to decide on how best to launch the product in the
North American market."
Contact:
David Grey, C.E.O Veinomed Limited.
Tel: 972-9-8851155
Fax: 972-9-8851212
Email: dgrey@truphatek.com
http://www.truphatek.com
SOURCE Veinomed Limited
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Related links:
http://www.truphatek.com
CONTACT:
David Grey, C.E.O of Veinomed Limited.,
+972-9-8851155, or fax, +972-9-8851212, dgrey@truphatek.com
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