Bookended by Obamacare, 2018 was the year of policy change

Modern Healthcare | December 26, 2018

With Congress' attempt to repeal the Affordable Care Act dead by the end of 2017, any relief the law's supporters felt were likely short-lived, as 2018 was the year the Trump administration began significantly remolding a law it fundamentally opposes.Led by HHS Secretary Alex Azar, who took the reins of the $1.2 trillion department last January, the administration charted an overarching strategy to lower drug prices and reduce spending on hospital care. Moreover, by the end of 2018, the entire Affordable Care Act was back in legal peril when a federal judge in Texas struck it down and blocked immediate appeal.

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HEALTH TECHNOLOGY

Brainlab Announces the Majority Acquisition of medPhoton

Brainlab | May 13, 2022

Brainlab, a digital medical technology company, announced today the majority acquisition of medPhoton GmbH, a Salzburg, Austria-based company, that develops and manufactures robotic imaging solutions for image guided radiation therapy and surgery. Over the last years, medPhoton has maintained a close partnership with Brainlab in the field of intraoperative imaging. This collaboration resulted in the market launch of the mobile imaging robot, Loop-X®, in 2020. Brainlab strategically invested in medPhoton, co-funded the development of Loop-X and became the exclusive distributor of the mobile imaging robot in the field of surgery. "Through the completion of this majority acquisition, we want to build on the previous success of Loop-X and decisively shape the future of intraoperative imaging. In this way, we can combine and align the entrepreneurial pursuits and innovative potential of both companies. Our united goal is to expand the market position of Loop-X as a 3D imaging device for surgery so that doctors can gain access to cutting edge equipment for patient treatment." Stefan Vilsmeier, President and CEO of Brainlab Loop-X mobile imaging robot is central to the Brainlab robotics portfolio and already part of everyday clinical practice in numerous hospitals worldwide. Loop-X sets new standards in surgery with automated imaging steps and robotic assistance. With the support of Loop-X, surgeons and staff gain flexibility and freedom of movement during surgery through access to high resolution 2D and 3D imaging. The independent movement of the imaging components and collimation capabilities allow non-isocentric imaging. Structures can be covered that are much larger—for example, the pelvis—but, patient tailored imaging now also covers much smaller areas—reducing the radiation volume to where it is needed. Beyond diagnostic imaging, this intelligent robot can capture partial information, “digitizing” anatomical intraoperative changes in order to update a “digital model” of the patient previously generated by aggregating pre-operative images. Heinz Deutschmann, CEO of medPhoton, looks forward to the expansion of the strategic partnership: "From the very beginning, Brainlab believed in the strength of our innovation, creativity and drive in the field of radiotherapy. Through our partnership, Brainlab provided us with significant support as we established our presence in the surgical device market and developed our production capabilities. Moving forward, we will continue to advance the production of Loop-X as well as coordinate research and development efforts to build next-generation systems with the objective of exploring new medical applications to improve surgical procedures and therapies. The majority acquisition by Brainlab is therefore the next logical step for us to achieve our most important goal: to advance research and development work at the highest level and expand the production of best-in-class medical technology to provide efficient therapies with optimal safety for patients." medPhoton will continue to operate as an independent research and development company within the Brainlab Group. Together, Brainlab and medPhoton will explore additional areas of application for the technology including radiotherapy, such as brachytherapy, particle therapy and intraoperative radiation therapy. Both companies will also further expand the capabilities at the medPhoton site in Salzburg, Austria. About Brainlab Brainlab is a digital medical technology pioneer founded in 1989 and headquartered in Munich. The company employs more than 2000 people in 25 locations around the globe. Brainlab serves physicians, medical professionals and their patients in over 6000 hospitals in 121 countries. Brainlab creates software-driven medical solutions that digitize, automate and optimize clinical workflows for neurosurgery, spine, trauma, craniomaxillofacial (CMF), general and vascular surgery as well as radiotherapy and radiosurgery. Core products center around surgical navigation, radiotherapy, digital operating room integration, and information and knowledge exchange. The Brainlab open framework operating system will allow third parties to develop medical applications to further advance the field of spatial computing and mixed reality. Brainlab is dedicated to creating an impact in healthcare. The company connects opportunities from emerging digital technologies to transform healthcare at scale and help improve the lives of patients worldwide. About medPhoton medPhoton develops and manufactures CE marked and FDA cleared medical devices for image guided procedures in surgery and radiation therapy, with a strong focus on particle therapy. Advanced product development centers on innovative, universal solutions for robotic, navigated applications in surgery, interventional radiology, brachytherapy and intraoperative radiation therapy (IORT). The company’s core competencies and patented solutions with X-ray-based imaging chains and algorithms are being customized for system integrators in B2B partnerships worldwide.

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HEALTH TECHNOLOGY

St. Peter’s Health Moves to the Innovaccer Health Cloud to Optimize Care Management and Collaboration Across Care Sites

Innovaccer Inc. and St. Peter’s Health | June 01, 2022

Innovaccer Inc., the Health Cloud company, announced that St. Peter’s Health, a regional nonprofit healthcare system in Helena, Montana, is moving to the InnovaccerⓇ Health Cloud's Data Activation Platform to support its mission of providing exceptional and compassionate care that treats the whole person and improve the health, wellness, and quality of life for the communities it serves. The health system, an integrated network with more than 100 providers, a 99-bed acute care hospital, physician and urgent care clinics, home health and hospice, ambulance services, cancer treatment services, and other ambulatory service lines, will be leveraging Innovaccer’s Best in KLAS Data Activation Platform to help providers collaborate across care sites by unifying the data from multiple EHRs to create a unified patient record that will support a new care management solution for optimized patient engagement. “Transforming our legacy EHR data into unified patient records is an important step in enhancing access, patient engagement, and care management, as it builds on our strong foundation of patient-centered services. Our partnership with Innovaccer is a reflection of our ongoing commitment to provide the gold standard for exceptional care to our community.” Ryan Winn, chief information officer, St. Peter’s Health St. Peter’s Health will deploy several Innovaccer solutions to optimize the use of unified patient data. The health system will unify data from legacy EHRs to create an EHR-agnostic physician engagement solution that provides actionable clinical information at the point of care. In addition, St. Peter’s Health will use Innovaccer’s personalized care management solution to provide a wide range of workflows that assist care teams by simplifying tasks, bridging care and coding gaps, and supporting delivery of quality care outcomes. Lastly, Innovaccer’s AI-powered patient engagement solution will provide St. Peter’s Health with timely, clinically contextual patient insights that can enhance provider-patient collaboration. “We’re thrilled that St. Peter’s Health is partnering with Innovaccer to accelerate their digital transformation,” said Abhinav Shashank, cofounder and CEO at Innovaccer. “We’re honored to be part of their journey and look forward to working closely with them to unlock the value of their patient data so they can advance their mission of delivering high-quality, low-cost, patient-centered care.” About St. Peter’s Health St. Peter’s Health is a nonprofit healthcare system located in Helena, Montana. Their services include but are not limited to a 99-bed acute care hospital, physician clinics, cancer treatment center, 24-bed behavioral health unit, urgent care clinics, home health and hospice care, dialysis center and ambulance services. They provide services to an estimated 97,000 residents from a five-county area. They are overseen by a volunteer board of directors that includes leaders and health experts who are committed to ensuring they provide exceptional healthcare to their community. About Innovaccer Innovaccer Inc., the Health Cloud company, is a leading San Francisco-based healthcare technology company committed to accelerating innovation in healthcare. The Innovaccer® Health Cloud unifies patient data across systems and settings, and empowers healthcare organizations to rapidly develop scalable, modern applications that improve clinical, operational, and financial outcomes. Innovaccer’s solutions have been deployed across more than 1,000 care settings in the U.S., enabling more than 37,000 providers to transform care delivery and work collaboratively with payers and life sciences companies. Innovaccer has helped organizations unify health records for more than 24 million people and generate more than $600 million in savings. Innovaccer is the #1 rated Data and Analytics Platform by KLAS, and the #1 rated population health technology platform by Black Book.

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HEALTH TECHNOLOGY

HeartBeam Expands Patient Population for Emergency Department Software Technology Solution

HeartBeam, Inc. | July 04, 2022

HeartBeam, Inc. a developmental stage digital healthcare company with a proprietary ECG telemedicine technology for heart attack detection, announced that HeartBeam is expanding the available patient population for the Company’s Emergency Department software technology solution. In evaluating the ECG database for the clinical validation of HeartBeam’s platform technology, a significant portion of consecutive patients fell into the category of unstable angina, a serious cardiac condition. In light of the most recent 2021 AHA/ACC/ASE/CHEST/SAEM/SCCT/SCMR Guideline for the Evaluation and Diagnosis of Chest Pain and in consultation with its clinical advisors, HeartBeam elected to include the full data set for clinical validation studying in support of the 510K submission. The expanded scope of the clinical validation study will provide access to a broader patient population for HeartBeam’s technology once cleared by the FDA. Due to the expanded available patient population, HeartBeam expects to file a 510K with the full data set for clinical validation no later than August 15, 2022 and does not affect the timeline for 510K submission of the Telehealth product. “It is important to include unstable angina as a diagnosis for analysis. Patients with unstable angina may have subtle electrical changes brought on by ischemia without definitive injury to the cardiac tissue. Given HeartBeam’s advanced technology solution, there is potential to identify patients who cannot be diagnosed by traditional ECG capabilities but may require intervention.” Russell Jones, MD, Interventional Cardiologist, Chair of the Ischemia Performance Improvement Committee at Phoebe Putney Health System HeartBeam’s platform technology is anticipated to assist physicians in identifying patients who present with chest pain to facilitate rapid detection of a heart attack and determine an appropriate treatment regimen. Chest pain is the second most common reason for an emergency department visit, with high costs associated with these visits. HeartBeam’s software solution may offer more accurate heart attack detection to triage patients and expedite treatment. The HeartBeam technology platform has not yet been evaluated by the FDA and is not approved for clinical use in the USA or other global geographies. “We believe our commercialization path is on track,” said Branislav Vajdic, PhD, CEO and founder. “The decision to include the broader patient population does not impact the scheduled submission for HeartBeam’s core technology platform for our Telehealth solution, which remains on schedule to submit in Q4 2022.” About HeartBeam, Inc. HeartBeam, Inc. is a development stage digital healthcare company with proprietary ECG telemedicine technology that will redefine the way high risk cardiovascular patients are diagnosed in an ambulatory setting at any time and any place. Its breakthrough solution employs a reusable, credit card sized, 3D vector ECG recording device and cloud-based software capable of assisting a physician in diagnosing a wide range of cardiovascular disease. HeartBeam is initially focusing on a huge unmet need of helping diagnose heart attacks in patients outside of a medical institution. No single lead ECG technology can offer this value to patients and their physicians. This underserved market is several times larger than the cardiac arrhythmia detection market based on the prevalence of patients with coronary artery disease at high risk of heart attack.

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HEALTH TECHNOLOGY

Walmart To Acquire AR Optical Tech Company Memomi

Walmart and Memomi | June 30, 2022

Walmart and Memomi, an augmented reality optical tech companyannounced they have entered into an agreement for Walmart to acquire Memomi. This reinforces Walmart’s commitment to frictionless and omnichannel optical care. Since 2019, Memomi has enabled digital measurements for all Walmart and Sam’s Optical customers, across more than 2,800 Walmart Vision Centers and 550 Sam’s Clubs, and also powers the Optical eCommerce experience on SamsClub.com. Acquiring Memomi, an AR company, is the next step in Walmart’s journey of offering personalized, affordable access to optical care. This acquisition furthers Walmart Health & Wellness’ strategy to deliver integrated, omnichannel healthcare, leveraging data and technology to improve engagement, health equity and outcomes. “Customers are looking for access to care digitally, in their homes, and purchasing eyeglasses is no different. This acquisition supports our Health & Wellness mission to provide accessible care to the communities we serve.” David Reitnauer, Vice President, Specialty Services, Walmart Health & Wellness Memomi is a leading provider of technology to enhance virtual optical try-on experiences, helping customers virtually “try on” eyewear in real-time for a seamless, easy and fun omnichannel experience. “Walmart’s ability to roll out our virtual try-on and contact-free digital measurements service in a short period of time shows how committed Walmart is to its customers’ need for digital care in-stores and at home,” said Ofer Saban, Chief Technology Officer, Memomi. The acquisition is expected to close in the coming weeks, and Memomi employees will join the Walmart Global Tech organization. “We’re excited to welcome the Memomi team to Walmart and add their capabilities to our leading virtual reality technology that is transforming the retail experience for our customers and members,” said Cheryl Ainoa, Senior Vice President, New Businesses & Emerging Tech, Walmart Global Tech. “We are looking forward to joining Walmart and offering our innovations and user experiences to such a large scale both in-store and online,” said Salvador Nissi Vilcovsky, CEO, Memomi. About Walmart Walmart Inc. helps people around the world save money and live better - anytime and anywhere - in retail stores, online, and through their mobile devices. Each week, approximately 220 million customers and members visit approximately 10,500 stores and clubs under 48 banners in 24 countries and eCommerce websites. With fiscal year 2021 revenue of $559 billion, Walmart employs over 2.2 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. About Memomi Memomi Labs Inc is a leading provider of cutting-edge technology to enhance virtual try-on user experiences through artificial intelligence, deep learning and augmented reality. Memomi helps customers virtually “try on” eyewear in real-time for a seamless, easy and fun omnichannel experience. In addition to the try-on experience, Memomi technology has created an accurate, easy measurement experience in-store once glasses are selected, leading to time savings for the customer and cost savings for the store. Memomi was founded in 2014 by Salvador Nissi Vilcovsky and Ofer Saban, experts in conceptualized solutions and interactive design.

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