Government Money Boosts Vigil’s Technology Launch

Government Money Boosts Vigil’s Technology Launch

Vigil Monitoring, the brainchild of inventor Sir Ray Avery, has just completed a pioneering two year research and development programme that will revolutionise medical care, having received funding approval from Callaghan innovation.

Callaghan Innovation funding means that Vigil Monitoring can now charge ahead with commercialising their innovative biometric monitoring wrist-band technology, with plans for release in December 2013. Callaghan Innovation is a government agency that helps accelerate commercialisation of innovation in New Zealand companies.

“The Callaghan Innovation funding is very important to us, said Vigil Monitoring Founder and Chief Scientific Officer, Sir Ray Avery GNZM, not just because of the obvious injection of funds to help commercialise our technology but because it is a commercialisation litmus test. The funding approval process is extremely demanding and forensic in its approach to a company’s commercial viability, as it should be, and this will give additional comfort to our investors”, says Avery.

“This ground-breaking technology will allow us to monitor patients vital signs using sensors embedded in a simple wrist strap. We can now wirelessly transmit biometric data including heart rate, skin temperature, blood oxygen concentration movement and geographical location to the Cloud, where abnormal results trigger a medical alert alarm, said Avery.”

“We have invested heavily and will continue to invest in customer based software programmes and smartphone applications. What makes our technology special is that we can collect millions of patient data points and analyse the accrued data using Algorithm analysis, which we can then use for preventative health care treatments”, said Avery.

Vigil Monitoring’s leading edge technology is well placed to take a significant share of the global market.  “This is a very exciting business to be in; remote patient monitoring is the future of modern medicine and I think it’s really great that New Zealand born expertise is leading this technology race”, said Avery.

According to a Juniper Research report commissioned by Vigil, the global remote patient monitoring market is estimated to be worth more than US$20 billion by 2016. The report also stated that health cost savings attributable to remote monitoring will account for US$5B in the US, US$795M in Western Europe and US$102M in the Far East & China region by 2014.

Vigil Monitoring have partnered with a leading New Zealand industry player to take their wrist-band device to the next stage, with clinical trials scheduled for October 2013. They are also in talks with another major New Zealand healthcare provider and an International Telecommunications company.

Notes to Editors:

Vigil is a privately owned New Zealand company founded in 2012 by scientist, serial inventor and social entrepreneur, Sir Ray Avery GNZM.

Vigil Monitoring’s ‘Cloud’ based biometric diagnostic application is unique; they are the only provider offering a service that allows for a truly mobile, real-time, continuous analysis of biometric data. The benefits of this service not only allow for automatic alerts to emergency services, but also more general trend analysis and alerts to  GP’s and other health care professionals.  This is an entirely software based solution and therefore, will be designed and distributed in encrypted and secure ways to ensure that IP is protected.

Vigil Monitoring’s state of the art, actionable biometric diagnostic tools can service the needs of many of the key players in the healthcare industry, including emergency responders, primary healthcare organisations, nursing homes and home healthcare organisations, as well as personal wellness programmes and fitness centres.

With unique sensor designs and mobile device app capabilities Vigil Monitoring has the flexibility of a number of business models across a variety of healthcare sectors.

Dramatic growth is expected in the market for wearable wireless devices, exceeding 100 million units by 2016, according to ABI research. Remote patient monitoring is the main reason behind the estimated 24% growth in the global mobile health application market, according to Technavio.

ENDS

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