You may be on top of the latest news about the biggest medical device companies, but don’t forget to keep an eye on emerging startups. These companies are bringing new ideas and solutions to the industry reps should be aware of. Here are a few of the top startups to watch:
Wearable devices are becoming increasingly popular in healthcare and their uses are only getting more innovative. Among some of the newest medical device companies creating wearables is ReliefBand Technologies, a startup that has developed a device to combat motion sickness and nausea.
The startup aims to put patients in control of their treatment without unwanted side effects of medication. The devices are clinically tested, FDA approved, and are available in multiple models to relieve nausea associated with motion sickness, morning sickness, chemotherapy, and postoperative procedures.
Established in July 2015, the startup recently announced raising $5 million in venture capital funding.
NeoLight LLC is an Arizona-based startup looking to revolutionize the treatment of jaundice in newborns. Although other medical device companies have products on the market to treat infant jaundice, NeoLight is different.
The device uses LED lights, instead of high-powered halogen lights that can cause side effects, like dehydration and Erythema. The device uses less power, is made of fewer parts, and is smaller and more portable than traditional products.
The device does not have FDA approval yet, but the startup announced it has closed a $600,000 seed round to help get regulatory clearance.
The healthcare industry has seen a range of smartphone apps and devices to aid in health management, diagnosis, and treatment. Biomeme takes these innovations a step further, turning smartphones into labs.
The Philadelphia-based startup has developed a real-time thermocycler that attaches to iPhones, allowing individuals to perform DNA analysis — any time, any place. Users can then review and manage results and data in the cloud. While traditional DNA analysis devices are costly, the startup boasts delivering the same technology at a fraction of the price. They hope to manufacture and sell the device for under $200 with each test costing less than $10, Genomeweb reported.
The biomeme device is patent-pending, and the startup has partnered with military and infectious disease researchers who currently use the device.
The use of big data in healthcare can improve treatment, but only if practitioners can feasibly manage and analyze all that information. Oncora medical aims to solve this problem for oncologists. The startup has created an analytics platform to help radiation oncologists use data to improve care for cancer patients.
Using the tool, physicians can review past and present data in one place to create a personalized treatment plan based on clinical knowledge and analysis of the data.
The startup has been selected to become a member of the University City Science Center digital health accelerator, the Philadelphia Business Journal reported.
Most medical device companies focus on creating products for developed countries, but Sisu Global Health is taking a different approach. The startup is working with developing countries in Africa to create medical devices to solve their unique treatment problems.
Their first product, the Hemafuse, is designed to recycle a patient’s own blood for a transfusion to replace or add to donor blood in emergency situations.
Although the startup is working with disadvantaged countries, it is a for-profit company. They aim to make money by creating affordable products that are needed by physicians across multiple countries.
In October, the startup was awarded $100,000 in a pitch competition as part of the Rise of the Rest Road Trip — a program that aims to foster startups outside of the Silicon Valley.
What do you think? Which medical device companies do you have your eye on? Join the conversation on LinkedIn!