An innovative ECG wearable and an optical based sensor device for non-invasive protein detection, which coupled with AI models can detect a heart attack within 7 mins compared to 55 mins in a clinical setting.
RCE has developed an innovative ECG wearable and an optical based sensor device for non-invasive protein detection, which coupled with AI models can detect a heart attack within 7 mins compared to 55 mins in a clinical setting.
We are moving fast, have a strong core team of cardiologists, strategic advisors and Phd's; Winners at 2019 SEMDA. As next steps, we are looking to submit our first goto market FDA sub this July, and do a series of clinical pilots to demonstrate health economics by reducing 30 day hospital re-admission rates for at risk patients.
800,000 heart attack patients per year in the US, with 210,000 repeat heart attacks, and 18% readmission rate for AMI. 34 million people worldwide with AMI(Acute Myocardial Infarctions). SOM ($7.5M), SAM ($478M) and TAM ($3.5B), with CAGR of 18.5%
Problem or Opportunity
With 25% repeat heart attacks, and in specific 18% re-admissions in first 30 days of the first heart attack, there is need for healthcare providers to prevent heart attacks, while reducing hospital cost burden and penalties from payers. The reason this happens is because the data that is available to clinicians in treating patients pro-actively in clinical setting are not available post discharge. such as ECG data or protein levels.
RCE's technology enables a solution through making these biomarkers available effectively to the clinicians - early detection of the onset of myocardial infarctions in the ischemic stage, hence, enables clinicians to assess and intervene early, thereby preventing expensive ER and Cath lab visits. RCE's goal is to lower 18% readmissions to between 5% and 8%, which affords the hospitals a 2.5-3.5 marginal ROI.
Solution (product or service)
In our efforts towards outcomes improvement in value based cardiovascular care, RCE has innovated and developed towards an ECG wearable and an optical based sensor device for non-invasive protein detection, which coupled with AI models can detect a heart attack within 7 mins compared to 55 mins in a clinical setting. The ECG wearable is a system that combines 12 fabric embedded electrodes as sensors that provide 12 channels of electrical (ECG) signals that inform a 3d representation of the electrical conductivity of the heart. The Optical based sensor provides physiological (protein levels - Troponin, BNP, CK-MB and hFABP3) information, that informs an early state of cardiac pathology in ischemic state. Both these parameters enable a state progressing towards a myocardial infarction (heart attack), hence, an early intervention can prevent such impending life changing event.
In the ECG space, we have our radar on: Primary (10 lead market): Nanowear, SmartHealth, GE, Phillips, Seimens Secondary (2 lead players): Apple, Alive Cor, iRhythm, Nuubo In the protein detection market, we do not foresee direct competitors. We do understand ongoing research at J&J Innovations labs, Boston Scientific and Medtronics, that we continue to monitor. That said, we do not see one brand as of yet, that combines both data for effective cardiovascular assessment of coronary artery disease.
Advantages or differentiators
Competitive advantage is the inclusion of both electrical (via ECG read outs) and physiological (protein levels) data real time. No device in the world provides both these parameters, thereby enabling early assessment of critical heart events by a cardiologist remotely. Additionally, we provide AI based optimized solution for triage with effectively brings a full service offering to health care providers to assess and intervene early
We plan to start our MVP business model directed to a B2B full service (ECG wearable device unit and Monitoring-Triage SaaS) for $600.00/patient/hospital Our goal is to prove 30 day readmissions reduction to hospitals in pilots; Furnish an analysis towards Hospital's Marginal ROI > 2.5 for at least 3 hospitals in clinical pilots; Convert these hospitals as revenue prospects, and organically grow our sales outreach with clinical data. We additionally embark Hospital outpatient setting and Cardiology clinics for adopting our device and technology towards additional use cases in Subclinical heart Disease, In-patient NSTEMI monitoring, Outpatient Stress Testing.
Money will be spent on
1. Compliance Testig (ISO, Biocompatability etc)
2. FDA prep and sub
3. Clinical Pilots and validation efforts
Offer for investor
SAFE convertible note at 20% discount towards next equity conversion round