NEWPORT NEWS, Va. — December 9, 2024 — ivWatch, LLC, the IV safety company, is proud to announce it has been recognized by Modern Healthcare as one of its Best in Business of 2024.
“The entire ivWatch team is humbled to be included among Modern Healthcare’s inaugural Best in Business honorees,” said ivWatch CEO Gary Warren. “We’re passionate about achieving our mission of reducing preventable IV injuries – one of healthcare’s most critical issues – with the only patient safety solution for IV extravasation detection and by helping to change outdated industry standards that challenge the mentality of ‘that is how we have always done it.’ Recognitions like this help fuel our passion for a better patient pathway and pushes us to continue our movement to keep patients safeguarded around the globe who will at some point need ivWatch to protect from severe IV harm.”
Modern Healthcare’s Best in Business program is designed to celebrate organizations providing vital products or services that lead to quantifiable improvements in care quality, outcomes, efficiency, experience and/or innovation. By acknowledging the leading innovators within the industry, Modern Healthcare aims to highlight the pivotal role these organizations play in enhancing the overall healthcare ecosystem.
ivWatch has over 20 years of research and development under its belt since its founding, accrued in its single-minded pursuit of improving IV safety globally. It has secured 69 patents for its technology in the process. Among the milestones the company has reached:
- Two additional leading business awards in the 2024 calendar year: Fast Company’s Most Innovative Companies, Inc.’s Best in Business.
- Over 300,000 patients monitored to date.
- 9 million hours of patient monitoring to date.
- Comparing January – September 2023 vs. 2024, single-use sensors sold increased 83%.
- The company has expanded its footprint beyond the U.S. and the technology is now available in the U.K., Ireland, the Netherlands, Belgium, United Arab Emirates, Saudi Arabia, Australia, New Zealand, Canada, Qatar, Israel, and Kuwait.
- >430% growth in product evaluations comparing 2023 completed evaluations to the evaluations completed in 2024, as of July. The evaluations completed in 2023 were located in only two countries (US and UK); as of January – July 2024, completed evaluations took place in 13 countries. An estimated total for evaluations to be completed by the end of 2024 would exceed the previous year 10 times.
- Reached Top Ten in 2024 Startup World Cup Grand Finale.
Added Warren, “We are committed to continuing to define the future in IV therapy through clinical education and skill development, a robust innovation pipeline that is globally protected with no competitors, and a team of leading experts that are single-handedly creating a movement that stands for better IV safety.”
“We are honored to recognize the inaugural recipients of Modern Healthcare’s Best in Business Award,” said Dan Peres, President of Modern Healthcare. “Their unwavering commitment to innovation, exceptional outcomes, and delivering real impact in the healthcare industry exemplifies the very essence of excellence. This achievement underscores their dedication to advancing healthcare solutions and setting new standards for quality and efficiency. Congratulations to these outstanding organizations for their remarkable contributions and well-deserved recognition.”
The entire list of winners can be found in the December 9 issue of Modern Healthcare magazine, and profiles of all the honorees are available online at ModernHealthcare.com/bestinbusiness.
About ivWatch, LLC
Founded in 2010 and holding nearly 70 patents, ivWatch developed a first-of-its-kind Class II medical device, cleared by the FDA and CE-marked, that uses visible and near-infrared light and a predictive algorithm to continuously monitor peripheral IVs and aid in the early detection of IV infiltration and extravasation events. These events are common and can lead to severe consequences ranging from dosing errors, scarring, skin staining, nerve damage, amputation, and even death.
The ivWatch patient monitoring system performs over 18,000 checks per hour for signs of IV infiltration and extravasation, notifying healthcare workers of fluid leaking outside of the vein in real time to reduce severe adverse outcomes.
In 2023, the company surpassed more than 30 clinical bodies of evidence. It was named to Inc.’s Best in Business 2024, Fast Company’s Most Innovative Companies 2024 list and was awarded a PM360 Innovative Health Award in the Health-Tech/Non-Consumer category and named a Fierce Life Sciences Innovation Award finalist for medical device innovation, both in 2023. To learn more, www.ivWatch.com.
About Modern Healthcare
Modern Healthcare is the most trusted business news and information brand in the healthcare industry. Modern Healthcare empowers healthcare leaders and influencers to make timely and informed business decisions. To learn more or subscribe, go to www.modernhealthcare.com/subscriptions.