HOUSTON–(BUSINESS WIRE)–Texas Medical Technology, a leading manufacturer and distributor of medical supplies and equipment, has acquired 5% of OmnySense Ltd., an Israeli medical technology start-up that has developed an information system on cloud-based health allowing patients to self-monitor their health at home. With this investment, the two will further collaborate to develop remote solutions to reduce hospital readmissions. Texas Medical Technology also serves as a consultant on the board of OmnySense.
Hospital readmissions can indicate a breakdown in care delivery, whether in the act of transferring a patient from one care setting to another, or between the facility and home. And in the United States, hospitals bear much of the cost of treating people readmitted within 30 days of discharge, which amounts to $26 billion a year, according to CMS. For the medical sector to operate more efficiently and minimize expenditure, the focus must be on improving the rate of readmission to the most costly care possible, namely hospital care.
With investment from Texas Medical Technology, OmnySense will provide US hospitals with a service to automatically track patient health after discharge to minimize the risk of deterioration and possible readmission. The system will allow a hospital doctor or nurse to receive alerts about patient deterioration remotely, establishing direct contact with the patient to address health issues as they arise. The solution will be part of Texas Medical’s MetaHealth, a virtual platform currently in development similar to the Metaverse, which will eventually allow vital signs and other medical data from these technology platforms to be easily accessed and monitored by hospital staff. . This metaverse for health will become essential in the future to change, improve and eventually transform health care.
Texas Medical Technology was created to meet the growing demand for personal protective equipment during the COVID-19 pandemic and is currently expanding its offerings to include digital health devices and services. The company now has a 144,000 square foot factory in Houston, Texas, which employs 550 workers from 53 countries, including refugees assisted by the YMCA of Greater Houston and the Catholic Charities of the Archdiocese of Galveston-Houston. True to its mission to help disadvantaged communities across the country, the company also recently announced joint ventures with The Modoc Nation of Oklahoma.
“We believe OmnySense’s user-friendly technology is the perfect tool for our hospital partners to track their discharged patients,” said Omri Shafran, founder and CEO of Texas Medical Technology. “This will help keep patients healthy and minimize hospital readmission costs.”
“We are thrilled to have Texas Medical Technology join us as a major investor,” said Yossi Aldar, CEO of OmnySense. “And we look forward to jointly pursuing the readmission minimization market in collaboration with them.”
About Texas Medical Technology
Texas Medical Technology, one of the fastest growing companies in the United States, has taken supply challenges and put them on its shoulders by bringing attention to COVID-related PPE. Provide a range of state-of-the-art technological and non-technological equipment to enable administrators to monitor potential medical crises and protect employees. For more information, please visit https://texasmedicaltechnology.com/
About OmniSense Ltd.
OmnySense is a cloud-based medical technology company that has developed a multi-parameter, connected and on-site monitoring device. The device is seamlessly integrated with OmnySense’s main telehealth system, providing a complete solution for telehealth and remote monitoring. The user places the device in the mouth for 30 seconds, like an ordinary thermometer. Measurements include temperature, 6-lead ECG, stethoscope-like functionality, heart rate, respiratory rate, oxygen saturation, and body composition. This data is automatically relayed to the OmnySense cloud, where it can enable remote visits with doctors and heuristics-based health monitoring and alerts. For more information, visit https://omnysense.com/