Masimo Corp. expands its European market with two new approvals on the continent: one for RPVi, a noninvasive and continuous measurement of perfusion—or pulse strength—index, the other for the rainbow Super DCI-mini sensor, a reusable spot-checker that detects changes in blood oxygen level.
The Irvine-based device maker develops minimally invasive patient monitoring devices used in surgeries. Its shares recently traded at about $97 per share for a $4.9 billion market cap.
RPVi is designed to show fluid volume changes to help better understand fluid responsiveness based on factors such as vascular tone and circulating blood volume. Targeted patients require mechanical ventilation assistance to help with breathing. Conducted studies include 82 patients undergoing major abdominal surgery and 109 patients undergoing colorectal surgery. The company said the device improves fluid management, including fluid type and amount administered, and improves patient recovery. The technology is available via its pulse oximeter.
Masimo, which introduced the rainbow DCI-mini sensor last year, has expanded the device’s capability, enabling it to be used for all infant patients weighing three kilograms or more. The company said the device is small and lightweight, and “can be applied to an adult finger, or pediatric finger, or an infant finger, thumb or great toe … further reducing the need for multiple sensor types.”
Doubled Stake
Visionary Venture Fund has doubled its investment in Iantech Inc. It made the investment along with The Global Health Investment Fund, a $108 million social-impact investment fund that supports late-stage drug, vaccine and diagnostics development for public health challenges in low- and middle-income countries. Sponsors include the Bill and Melinda Gates Foundation. Terms were undisclosed.
Proceeds will support Food and Drug Administration approval and bringing the product to market, said Visionary Fund Managing Partner Jeffry Weinhuff.
Reno, Nev.-based Iantech makes the miLoop, a pen-like device intended to remove cataracts, which result in blurred vision and ultra-sensitive eyes.
The Aliso Viejo-based ophthalmology-focused venture fund, which is linked to local accelerator Octane, closed in May and has the capability to invest up to $30 million. Firms receiving investments also include device companies Mynosys Cellular Device Inc. and RxSight Inc., and corneal tissue eye bank SightLife Surgical.
Buildout
Home healthcare provider Jet Health Inc. named Marlin Yoder senior vice president of operations. In the newly created position, he’ll oversee operations across the company’s locations in Texas, New Mexico and Colorado, including the integration of newly acquired operations. Yoder previously served as regional vice president at Kindred at Home, a home care services provider in Louisville, Ky.
Jet Health was founded last April and has made three acquisitions, including Home Health Investment LLC in Colorado and Klarus Home Care in Texas. The company plans to invest in home care facilities in “middle market health markets,” said Chief Executive Jim Glynn. He said the company is expanding and hiring for new positions in national recruiting, payroll management and business analytics support.
It’s raised $19 million from private and institutional investors, including venture capital firm SV Life Sciences in Boston and private equity firm Health Enterprise Partners LP in New York.
Pediatric Care
Anaheim-based ClearFlow Inc., which makes wound drainage systems, received FDA approval for SEDL—“shorter effective drainage length”—PleuraFlow Active Clearance Technology to be used for pediatric patients. The device was approved in Europe last year.
The company said drainage due to chest tube clogging is a problem for many heart surgery patients, especially with smaller diameter tubes used in pediatric procedures.
“The older makeshift bedside techniques of stripping or milking conventional chest tubes have been shown ineffective to prevent problems with chest tube clogging after heart surgery in children,” said Chief Executive Paul Molloy.
Bits & Pieces
MYnd Analytics Inc. in Mission Viejo raised $8.79 million from a public offering of nearly 1.7 million shares of common stock and warrants at $5.25 per share. The company develops an online database that allows doctors to exchange data to improve care for patients with mental health issues. … The American Hospital Association and its Hospitals & Health Networks publication released results from a 2017 survey that measured the level of IT adoption in hospitals and health systems. California has 27 “Most Wired” hospitals, including Children’s Hospital of Orange County and Kaiser Permanente. … Newport Beach-based Hoag Memorial Hospital Presbyterian announced its breast center received the highest level of accreditation by the National Quality Measures for Breast Centers Program for the fifth consecutive year. Hoag is one of 49 in the U.S. to receive the designation.
