ivWatch gets commercialization deal with ICU Medical
Monday, October 8, 2018
ivWatch, the only provider of continuous monitoring devices for the early detection of intravenous (IV) infiltrations and extravasations, entered into a long-term development and commercialization agreement with ICU Medical, a worldwide leader in the development, manufacture and sale of innovative medical devices used in infusion therapy and critical care applications. The collaboration will offer a way forward for Electronic Health Records (EHR) interoperability by connecting the two companies’ systems in order to exchange and use high-quality data.
“Our two companies can optimize our services with the multi-dimensional interchange of data sets to not just improve the continuum of care, but also patient outcomes,” said Gary Warren, president and CEO of ivWatch. “ICU Medical’s expertise in developing IV-EHR interoperability solutions will support our mission to help advance patient safety.”
The current health care atmosphere emphasizes both efficiency and quality, and clinicians are faced with the challenge of doing more with less.
“Interoperability provides significant value to health care organizations with improvements in safety and efficiency,” said Matthew Hutchings, ICU Medical’s senior director of marketing and innovation for IV Systems. “We see a great opportunity to enhance these benefits through our relationship with ivWatch.”
Industry best practices of peripheral IV insertion, maintenance and assessment have been unable to completely address the issue of infiltration/extravasation. A new standard of care is required to minimize injuries associated with this common complication of IV therapy. The use of continuous monitoring technology for earlier identification will more aggressively take on this potential for patient harm.
“Interoperability is essential for customers and often a requirement during the buying decision process,” said Scott Hensley, vice president of sales and business development at ivWatch. “With ivWatch and ICU Medical working together, we can reach more patients and assist institutions with keeping patients safe from preventable harm and drug delivery errors.”