ivWatch Closes $14.8 Million Funding Round

HAMPTON, VA. — June 7, 2017 — ivWatch LLC, a medical device company focused on improving the safety and effectiveness of intravenous (IV) therapy, today announced the closing of its latest funding round of $14.8 million from undisclosed angel investors, family funds and a major hospital system. The financing will support the company’s direct go-to-market initiatives and strategic partner activities.

“The support ivWatch has seen from our investors and partners has been incredible. They are committed to seeing our technology, research, science and team make a true impact on the problems related to peripheral IV failure,” says Gary P. Warren, President & CEO of ivWatch,LLC. “The momentum we are finding in the market is exciting, as healthcare providers see the benefits of improved patient safety and reduced risks associated with IV therapy.”

IV therapy is the most common invasive hospital procedure. Yet failure rates due to infiltration are pegged at more than 20 percent. Every failure of an IV results in a drug delivery error and carries the potential for reduced drug efficacy and physical harm. Complications range from skin redness, burning, tissue necrosis and compartment syndrome to possible limb amputation.

ivWatch technology is the first of its kind to offer a solution for continuously monitoring an IV site and assessing if drugs are actually being delivered to the vein without leakage. The ivWatch Model 400 is an FDA-cleared device that continuously monitors any patient’s peripheral IV for the early detection of these infiltration and extravasation events and helps clinicians manage the risk associated with IV therapy. The company also recently launched the ivWatch Original Equipment Manufacturer (OEM) Board to enable seamless integration of ivWatch’s groundbreaking IV infiltration detection technology with patient monitoring systems, infusion pumps and other devices. By integrating ivWatch technology into existing products, OEMs will be able to help healthcare customers deliver a higher level of patient care.

“ivWatch represents the entrepreneurial progress of our region,” says John Lawson, President and CEO of W.M. Jordan Company and Chairman of the Board at ivWatch, LLC. “The scientific, financial and business acumen of those involved with the company, from investors, board members and advisors to the employees, is remarkable. Every day the team moves one step closer to helping resolve the infiltration issue within our healthcare system.”

For more information about ivWatch and its revolutionary medical technologies, go to www.ivwatch.com/products.

MEDIA CONTACT: Leah Moore, leah.moore@ivwatch.com, Office (855) 489-2824 x7031, Mobile (757) 839-5653

The ivWatch OEM Board is not an FDA-cleared device. It is the responsibility of the Original Equipment Manufacturer integrating ivWatch technology to secure the proper regulatory clearance.

In the News

ivWatch touts new OEM board for IV infiltration detection
May 25, 2017 By Danielle Kirsh

Hampton, Va. based ivWatch announced the launch of its ivWatch OEM board designed to enable seamless integration of its IV infiltration detection technology with patient monitoring systems, infusion pumps and other devices.

OEMs can help bring a higher level of patient care to patients and reduce risks that come from IV therapies by using ivWatch technology in existing products. Read the full article.

Original article published in Medical Design & Outsourcing on May 25, 2017.

ivWatch Launches OEM Solution, Expands Executive Team to Support Global Sales and Partnerships

HAMPTON, Va. — May 24, 2017 — ivWatch LLC today announced the launch of the ivWatch Original Equipment Manufacturer (OEM) Board to enable seamless integration of ivWatch’s groundbreaking IV infiltration detection technology with patient monitoring systems, infusion pumps and other devices. By integrating ivWatch technology into existing products, OEMs will be able to help health care customers deliver a higher level of patient care and reduced risks related to IV therapy.

“The ivWatch OEM Board provides a way to leverage existing ivWatch technology and sensors and integrate them into the OEMs’ products and bring the benefits of real-time monitoring to more hospitals,” said Gary P. Warren, President and CEO of ivWatch LLC. “This new OEM solution is a natural extension of our mission of advancing patient safety, and we’re excited to work with global partners to make it a reality.”

IV therapy is the most common invasive hospital procedure. Yet failure rates due to infiltration are pegged at more than 20 percent. Every failure of an IV results in a drug delivery error and carries the potential for reduced drug efficacy and physical harm. Complications range from skin redness, burning, tissue necrosis and compartment syndrome to possible limb amputation.

ivWatch technology is the first of its kind to offer a solution for continuously monitoring an IV site and assessing if drugs are actually being delivered to the vein without leakage. With the ivWatch OEM Board, ivWatch technology can be seamlessly embedded into other devices, enabling continuous IV monitoring to become a part of standard-of-care workflows, with clinically proven high accuracy to catch IV infiltrations before a clinician, or the patient, is aware that there is a problem.

To support its strategic growth plans, ivWatch is expanding its executive team.

Scott Hensley has recently joined ivWatch as Vice President of Sales. Prior to joining ivWatch, Hensley served as Regional Vice president of Sales at biosensor technology company Masimo Corp., where he had worked since 2003.

Melissa Fire, previously ivWatch’s Vice President of Sales and Business Development, will lead the company’s OEM initiative in a new position as Vice President of Global Strategy and Business Development. In this role, Fire will be responsible for developing global strategic partnerships to drive the widespread adoption of ivWatch technology.

Additional information and specifications for the OEM Board can be found at www.ivwatch.com/oem-solutions.

MEDIA CONTACT: Leah Moore, leah.moore@ivwatch.com, Office (855) 489-2824 x7031, Mobile (757) 839-5653

The ivWatch OEM Board is not an FDA-cleared device. It is the responsibility of the Original Equipment Manufacturer integrating ivWatch technology to secure the proper regulatory clearance.

In the News

ivWatch included in MD+DI’s coverage of the 2017 Medical Design Excellence Awards

ivWatch was included in an article discussing the key features that the finalists of the 2017 Medical Design Excellence Awards (MDEAs) kept in mind to create products that benefit patients, clinicians, and the healthcare system. ivWatch was praised for the impact it could have on the overall healthcare system. Read the full article.

ivWatch Honored as Finalist in the 2017 Medical Design Excellence Awards (MDEA)

Hampton, VA, May 1, 2017 — ivWatch, LLC, is pleased to announce that their Model 400, a peripheral IV monitoring device, is a finalist in the 19th Annual Medical Device Excellence Awards competition sponsored by MD&M East, the largest annual medical technology conference on the East Coast. Winners will be announced during the June conference in New York.

The Device
The ivWatch Model 400 is a device that continuously monitors a patient’s peripheral IV for the early detection of infiltrations – when medication or fluid leaks outside the vein into the surrounding tissue. Intravenous therapy is a routine part of treatment for nearly 80% of patients in the U.S., and more than 20% of these IVs may fail because of infiltration. Because every IV failure risks both a serious drug delivery error and tissue damage, earlier detection of those failures is the new and next step for minimizing this potential for patient harm.

ivWatch
The team at ivWatch are recognized leaders in the field of tissue optics, biomedical engineering, computational optical modeling and sensor design. The technological advance represented by this device addresses the challenge of delivering high performance sensitivity and accuracy of reporting, and aligns with the medical industry’s dedication to patient safety and quality of care.

Thanks to close collaboration with nurses and doctors, the Model 400 fits easily into existing workflows. Leading hospitals across the U.S. who have been using the Model 400 are realizing the benefits of this new technology, improving both the effectiveness of drug delivery and the safety of their patients.

MDEA
The MDEA competition recognizes significant achievements in medical product design and engineering that improve healthcare delivery and accessibility. The awards celebrate the accomplishments of the medical device manufacturers, their suppliers, and the people behind the scenes who are responsible for cutting-edge products that save lives, improve patient care, and transform medtech—one innovation at a time.

From Gary Warren, President & CEO of ivWatch
“It’s an honor to be named as one of the finalists,” says Gary Warren, ivWatch President & CEO. “Having our device recognized by the MDEA judges validates our commitment to helping reduce patient harm and improving patient safety outcomes.”

Suppliers who contributed to the development and production of the Model 400 are Insight Product Development, Phillips-Medisize Corp, Gulf Fiberoptics/Gulf Photonics, and Minnetronix.

Contact:
Leah Moore, Director, Marketing
ivWatch, LLC
855-489-2824 ext. 7031
leah.moore@ivwatch.com
http://www.ivWatch.com/

ivWatch Welcomes Susan Brown, Chief Nursing Officer

Hampton, VA, March 7, 2017 — – ivWatch, LLC, medical device manufacturer of the Model 400 PIV continuous monitoring device, is pleased to welcome Susan Brown, MSN, MSED, as Chief Nursing Officer beginning on March 1, 2017.

Ms. Brown joins ivWatch from her role as a director with patient care services at Children’s Hospital of the King’s Daughters in Norfolk, VA. Her fifteen years of experience in pediatric intensive care include responsibility for operational and clinical care departments including the departments responsible for patient flow, vascular access, resource pool, neonatal/pediatric critical care transport, and others.

She also established protocols, procedures and processes to implement programs improving systems and accountability across the hospital. She was a key member of the hospital-wide process improvement team for CLABSI reduction, completing a comprehensive job instruction training program utilizing the Toyota Production System.

As ivWatch’s Chief Nursing Officer, Ms. Brown will be responsible for developing a new clinical research plan, including the design and execution of clinical research projects. She will also be leading the training programs for hospital staffs implementing the ivWatch Model 400 device in their facilities.

“We could not be more pleased that Susan has joined the team at ivWatch,” says Gary P. Warren, ivWatch President & CEO. “Her nursing experience and leadership skills will enhance our ability to successfully and seamlessly implement our product in hospitals across the United States, as well as continue our dedication to conducting and collecting data through clinical research.”

Contact:
Leah Moore, Director, Marketing
ivWatch, LLC
855-489-2824 ext. 7031
leah.moore@ivwatch.com
http://www.ivWatch.com

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