We feel that we need to bring both disruptive technologies and a disruptive business model to the field. It is highly unconventional for a VC-backed medtech company to embrace reprocessing – but we feel that this is a must, where safe and appropriate.
CARLSBAD, Calif. and SCOTTSDALE, Ariz. (PRWEB) October 08, 2019
Acutus Medical and Innovative Health, Inc. today announced a partnership that challenges the status quo in electrophysiology by offering advanced technology to improve patient outcomes in a cost-efficient manner. The two high profile venture-backed companies will team to offer hospital customers a comprehensive suite of electrophysiology (EP) products, including Acutus’ next generation EP mapping and accessory products together with the industry’s fastest growing portfolio of reprocessed single-use EP devices from a range of manufacturers. Acutus will also work proactively with Innovative Health to gain clearances, as appropriate, to market reprocessed versions of certain proprietary Acutus products – a highly novel approach for a venture-backed device company. The goal of the partnership is to simultaneously rein in per-procedure costs while freeing up hospital budget dollars for emerging new technologies that hold the prospect of improving clinical outcomes and speeding up procedure times.
Recognizing the constraints that hospitals and health systems face in delivering quality patient care at a sustainable cost is fundamental in the current healthcare environment. Safe, proven and effective reprocessing of high-cost single-use devices offers a reliable avenue for hospitals to combine the best of both worlds: Best-in-class, state-of-the-art technologies together with cost-effective, sustainable per-procedure costs.
Acutus provides a full suite of innovative technologies and products for electrophysiology diagnostic and ablation procedures through an open platform that enables personalized and adaptive approaches to arrhythmia therapy.
Innovative Health is a leading specialty EP reprocessing company that collects, reprocesses and returns single-use labeled EP catheters to hospitals, reducing each atrial fibrillation (AF) procedure’s device costs by as much as 30 percent. The company holds formal FDA clearances to reprocess many high-complexity EP devices, such as mapping catheters, diagnostic ultrasound catheters and introducer sheaths, allowing Innovative Health hospital partners to increase their savings compared to other reprocessing programs.
“Hospitals and health systems are often forced to compromise on innovation in their procedural approaches due to cost constraints,” said Vince Burgess, CEO of Acutus Medical. “The giant entrenched multi-national incumbents in the EP business relentlessly increase prices for nominal incremental enhancements in their products, which is not sustainable. Due to a lack of significant innovation, improvements in clinical outcomes in the EP field have stagnated over the last decade or more – yet costs continue to increase. To challenge the incumbents and change the status quo, we feel that we need to bring both disruptive technologies and a disruptive business model to the field. It is highly unconventional for a VC-backed medtech company to embrace reprocessing – but we feel that this is a must, where safe and appropriate.
“We’re joining Acutus in their effort to disrupt the electrophysiology treatment landscape because together, we can create real change. We can bring advanced diagnostics, effective treatments and cost-effective access to hospitals and physicians,” said Rick Ferreira, CEO of Innovative Health. “Our cost reduction model supports Acutus’ focus on improving outcomes for as many physicians and patients as possible by enabling more patients to receive care with the best technology.”
About Acutus Medical
Acutus Medical is a dynamic arrhythmia care company focused on developing a full suite of distinct, innovative technologies that provide physicians and patients with excellent outcomes and procedural efficiency. At Acutus, we know that seeing is better than believing. Diagnosing and treating patients with atrial arrhythmias requires eliminating the unknown. Acutus’ advanced cardiac imaging and mapping system provides real-time arrhythmia visualization displaying the heart’s true activation pattern, turning the chaos of a complex arrhythmia into a clear vision for electrophysiologists. Founded in 2011, Acutus is based in Carlsbad, California.
About Innovative Health
Innovative Health is an advanced medical device reprocessing company that offers smarter utilization of medical devices in hospitals’ cardiology and electrophysiology programs. The company has received 29 FDA clearances to reprocess EP devices in just 2 ½ years, surpassing any other reprocessor in the industry.
US Media Contacts
Acutus Medical
Jessica Stebing
Levitate
(260) 408-5383
acutus@levitatenow.com
Innovative Health
Lori Luechtefeld
lluechtefeld@witstrategy.com
(310) 210-4757