Devicare develops medical devices which monitor the health of home care patients. By using sensors to measure body fluids such as blood, sweat, saliva and urine the devices can record and relay information to help heathcare professionals and patients manage their treatment. The company currently has two products, one for the prevention and self-management of urinary infections and the second for the self-management of patients taking anticoagulants.
The loan will be used to continue their Remote Patient Monitoring concept, to develop new lines of products, which will need clinical studies to support them. In addition the money can be used for expansion throughout the European and North American markets. The loan, from Avançsa, is the second investment the government’s business entity made last week, having also put €7 million into iron and steel company Comforsa.
On Devicare’s site, Rosendo Garganta, the company’s founder and CEO, was quoted as having said, “We have erased the border between developing medicines, dietary supplements and medical devices. People are requesting healthcare solutions and services with real and measurable results,” adding, “so Devicare disruptively combines biotechnology, medical technology and IT”.
The site also states that by using Devicare products patients spend fewer days in hospital and require fewer outpatient or emergency visits.
Healthtech has been an industry on the rise, especially in the last year, as companies find ways to provide medical professionals and patients the information they need to be able to manage their health more proactively. At this year’s CES in Las Vegas start ups and big names, like Samsung and Nokia, have showcased their products which do everything from gathering sleep data to sequencing DNA to provide better diet insight.