RhythMedix® exceeds first year projections; monitors over 23,000 patients on innovative RhythmStar® Remote Cardiac Monitoring System
Product commercialization strengthened by litigation patent defense insurance policy
Apr 27, 2016, 08:02 ET from RhythMedix
MOUNT LAUREL, N.J., April 27, 2016 /PRNewswire/ — RhythMedix, a privately held wireless medical monitoring company focused on transforming arrhythmia monitoring for patients and clinicians, today announced that over 23,000 patients at sites across the U.S. have used the RhythmStar System after market entry in March 2015. To support commercialization, the company has undergone a rigorous non-infringement patent assessment process and secured a multi-million dollar litigation patent defense insurance policy from Intellectual Property Insurance Services Corporation (IPISC).
Estimated to be a $3B worldwide cardiac monitoring market, the RhythmStar System is the first single component cloud-based cardiac monitoring solution that seamlessly functions in all three monitoring modes, including Holter, Event and Mobile Cardiac Telemetry (MCT). The three-in-one capability enables accurate arrhythmia outpatient diagnosis and accelerates the time to treatment.
“A clinician’s ability to accurately diagnose and treat cardiac patients in a timely manner relies on consistent patient compliance and access to high quality monitoring data,” commented Phillip Koren, MD, Medical Director of the Cooper Heart Institute and Associate Chief Medical Officer of the Cooper Health System in Camden, NJ. “The RhythmStar is a feather-light device that positively impacts patient compliance. Patient management has also improved due to the access of verified beat-by-beat patient data which enables a faster diagnosis.”
The RhythmStar System is a multi-channel grounded device that provides clear signal data quality. The system offers real-time access to verified patient data by combining the power of cloud-based algorithm analysis and a certified Independent Diagnostic Testing Facility (IDTF). Built on a foundation of customer service, RhythMedix provides full-service cardiac monitoring to meet the versatile demands of today’s customers.
“The rapid adoption of the RhythmStar System validates our offering of superior monitoring technology and customer service in the market and has exceeded our internal projections,” statedBrian Pike, Co-Managing Principal of RhythMedix. “Historically, market leaders have leaned on litigation and disparagement to stifle new entrants. We believe the cardiac monitoring market is ripe for innovation and have strategically performed a rigorous patent non-infringement analysis to secure IP defense insurance for our technology.”
RhythMedix®, a privately owned FDA approved manufacturer and wireless medical technology company, is focused on providing superior technology and exceptional customer service to transform the medical monitoring industry and improve patient outcomes. The RhythmStar® System provides full monitoring services, including Holter, Event and Mobile Cardiac Telemetry (MCT), in a feather-light single component device. Designed to empower physicians with actionable data, the system combines the power of real-time cloud-based analytics and personal verification by the RhythMedix Independent Diagnostic Testing Facility (IDTF).
Learn more at www.rhythmedix.com
About Intellectual Property Insurance Services Corporation – (IPISC)
IPISC is the pioneer and world leader in intellectual property insurance and services. Serving over 10,000 clients globally, paying out in excess of $50 million in litigation costs, including funding clients to pursue cases all the way to the Supreme Court, the company’s track record demonstrates a commitment to protecting client’s vital intangible assets. Patents and trademarks are important, but ultimately worthless without the means to enforce them or to defend them from predatory IP lawsuits. IPISC does the research and extends their expertise to give clients peace of mind. Visit http://www.patentinsurance.com to learn more.