- Allows Itamar to leverage Spry’s current FDA-cleared expertise to convey to market the primary system for steady distant affected person monitoring (RPM) of sleep apnea
- Provides the aptitude to observe the longer-term collected illness burden of sleep apnea to enhance the one night time diagnostics generally used in the present day, together with the Firm’s current WatchPAT™ system
- Paves the best way for an end-to-end digital care pathway that may additional broaden Itamar’s presence in obstructive sleep apnea (OSA) diagnostics and advance help for power cardiovascular and COPD illness administration
- Gives market growth alternative within the rising house well being monitoring options market and probably leverage current reimbursement codes for RPM to create new income alternatives and deal with a projected $2 billion market
- Delivers stream of steady complete affected person bio-markers of sleep problem patterns and their affiliation with day-time physiological very important indicators over time monitored in a straightforward to adjust to watch-like system
CAESAREA, Israel, Jan. 12, 2021 (GLOBE NEWSWIRE) — Itamar Medical Ltd. (NASDAQ and TASE: ITMR), a number one medical system and digital well being firm centered on the mixing of sleep apnea administration into the cardiac affected person care pathway, in the present day introduced that it has entered right into a definitive settlement to amass expertise and belongings of Spry Well being for an undisclosed money quantity. Spry, based mostly within the San Francisco Bay space, develops a wrist-based medical grade distant affected person monitoring (RPM) answer.
“As we sought alternatives to construct on our imaginative and prescient of increasing sleep apnea diagnostics from a single-night check to steady distant affected person monitoring, we recognized the expertise commercialized by Spry Well being as an ideal match,” mentioned Gilad Glick, President and Chief Govt Officer of Itamar Medical. “The acquisition of their FDA-cleared, wrist-worn expertise and the addition of a educated pool of chosen gifted engineers, led by Spry co-founder and CTO Elad Ferber, gives a superb platform for us to leap begin our growth initiatives to convey to market a steady sleep apnea monitoring system to additional help power illness administration, significantly because it contributes to the added burden on heart problems.
“Whereas finger-based monitoring yields the very best accuracy, it’s at the moment not appropriate for longer-term put on. A tool that’s designed for the wrist, whereas probably much less correct for exact illness diagnostics, is extra appropriate for monitoring the continual collected burden of sleep apnea and its potential affect on different illnesses, reminiscent of cardiovascular situations, attributable to its wearability over weeks or months,” added Glick.
Spry’s patented expertise is delivered by means of a watch-like home-based monitoring medical system referred to as the Loop System. The Loop System is FDA-cleared and based mostly on an intensive set of sensing applied sciences and algorithms that contextualize real-time, steady physiologic knowledge to flag indicators of affected person deterioration utilizing bio-markers reminiscent of SpO2, respiration charge, and coronary heart charge. These three alerts, mixed with Itamar’s core experience within the Peripheral Arterial Tonometry (PAT®), kind the inspiration for steady sleep apnea monitoring. Itamar anticipates commencing growth of a brand new wrist-worn system instantly, with preliminary market launch timing anticipated in 2022.
The whole international RPM market in 2019 was estimated to be roughly $800 million and anticipated to succeed in roughly $2 billion in 2027. North America represented the most important share of the worldwide market at roughly 38%, primarily attributed to rising heart problems1.
“Sleep apnea is a severe and customary respiratory dysfunction. Current research have proven that 50-80% of sufferers with heart problems together with hypertension, stroke, atrial fibrillation and HF have vital sleep apnea – and sufferers with uncontrolled sleep apnea usually tend to have worse outcomes together with uncontrolled hypertension, refractory afib and better mortality. Enabling cardiac-based RPM applications in sufferers with CV illness will nearly actually be a recreation changer in serving to us determine sleep apnea – and its burden – earlier in these sufferers and result in higher outcomes throughout the board,” mentioned Dan Bensimhon, MD Medical Director Superior Coronary heart Failure & Mechanical Circulatory Help at Moses Cone Well being.
“We additionally consider that pulmonologists, that are predominantly our present WatchPAT™ prospects, will acquire the additional benefit of RPM in monitoring sufferers with overlap sleep-apnea/COPD syndrome, a situation that may enhance dying sevenfold2,” concluded Glick.
About Spry Well being
Spry Well being, incubated at Stanford-affiliated accelerator StartX, develops digital well being options to rework how chronically-ill sufferers are handled, enhance affected person outcomes, and dramatically cut back healthcare prices. Based in 2014 with a imaginative and prescient to rework well being options, the corporate creates a brand new channel of data from high-risk sufferers by means of wearable expertise. Spry Well being gives well being care organizations with analytics to permit for higher care of their sufferers whereas they’re at house, lower hospital admissions, and cut back pointless spending. For extra data go to www.SpryHealth.com.
About Itamar Medical Ltd.
Itamar Medical is a medical expertise firm centered on the event and commercialization of non-invasive medical units and options to help within the analysis of respiratory sleep problems. Itamar Medical commercializes a digital healthcare platform to facilitate the continuum of look after efficient sleep apnea administration with a deal with the core sleep, cardiology and direct to client markets. Itamar Medical presents a Whole Sleep Answer to assist physicians present complete sleep apnea administration in quite a lot of scientific environments to optimize affected person care and cut back healthcare system prices. The Firm’s key product, WatchPAT, is commercially obtainable inside main markets together with the US, Japan, and Europe. Itamar Medical is a public firm traded on the Nasdaq and on the Tel Aviv Inventory Exchanges, and relies in Caesarea, Israel with U.S. headquarters based mostly in Atlanta, GA. For added data go to www.itamar-medical.com
This press launch comprises forward-looking statements throughout the that means of the “protected harbor” provisions of the Non-public Securities Litigation Reform Act of 1995 and different relevant securities legal guidelines. Statements preceded by, adopted by, or that in any other case embrace the phrases “believes”, “expects”, “anticipates”, “intends”, “estimates”, “plans”, and related expressions or future or conditional verbs reminiscent of “will”, “ought to”, “would”, “could” and “may” are typically forward-looking in nature and never historic details. For instance, once we focus on the event of a brand new wrist-worn system to be initially launched in 2022 or the chance to enter a $2 billion market we’re utilizing forward-looking statements. As a result of such statements take care of future occasions, they’re topic to numerous dangers, uncertainties and assumptions, together with occasions and circumstances out of Itamar Medical’s management and precise outcomes, expressed or implied by such forward-looking statements, may differ materially from Itamar Medical’s present expectations. Elements that might trigger or contribute to such variations embrace, however usually are not restricted to, dangers, uncertainties and assumptions mentioned once in a while by us in reviews filed with, or furnished to, the U.S. Securities and Change Fee (“SEC”) and the Israel Securities Authority (“ISA”), together with our newest Annual Report on Kind 20-F which is on file with the SEC and the ISA. Besides as in any other case required by regulation, we undertake no obligation to publicly launch any revisions to those forward-looking statements to mirror occasions or circumstances after the date hereof or to mirror the prevalence of unanticipated occasions.
Itamar Medical Investor Relations Contact (U.S.)
1Studies and Information: Distant Affected person Monitoring, June 2020
2Annals of the American Thoracic Society: Excessive Prevalence of Obstructive Sleep Apnea in Sufferers with Reasonable to Extreme Persistent Obstructive Pulmonary Illness, August 2015