PMD Solutions receives €4.2 million in EU funding for innovative respiratory device to tackle in-hospital respiratory compromise
30th November 2015
PMD Solutions, an SME based in Cork, will receive €4.2 million in funding from the latest round of Horizon 2020 SME Instrument (Phase 2) to commercialise a new respiratory monitoring device to improve patient outcomes.
PMD Solutions is 1 of 3 innovative SMEs across Europe selected in the health sector of the SME Instrument.
'RespiraSense', PMD’s premier product, is the world's first continuous and accurate discrete sensor measures that measures the 'mechanics of respiration' (i.e. sensor that measures the chest and gut movement during breathing). This gives medical staff the earliest signs of possible patient deterioration from conditions such as respiratory compromise, increasing severity of sepsis, worsening pneumonia, and oncoming heart attacks. The device, a discrete wireless sensor, is placed on the patient's chest at admission and worn continuously until discharge to deliver highly accurate measurements, which is ideally designed for general ward patients who are alert and active.
Mr Myles Murray, PMD Solutions’ founder, explained that at the moment nurses intermittently and visually count how many times a patient breathes per minute, as there is no continuous or accurate technology available to do otherwise. PMD has explicitly designed this product to support nurses and enhance routine vital sign observations, which if subjective can result in medical teams not being able to rely on historical data to accurately predict patient outcomes. The result of which can lead to delayed interventions and increased length of stay for the patient, which in turn reduces the amount of beds available for new patients.
"Respiratory rate is a key indicator of a patients general well-being so changes in this vital sign can be indications of respiratory compromise, increasing severity of sepsis, worsening pneumonia, and predict oncoming heart attacks - some of hospitals most frequently occurring adverse events. 'RespiraSense' is designed to continuously measure this vital sign, which if detected to be abnormal can help medical staff prevent these from happening with patients on the general ward. This can produce better patient outcomes and overall reduce length of stay for patients in hospitals and to free up beds - a current need for Emergency Departments nationwide".
RespiraSense is currently being used in hospitals in Ireland, Germany, and Hong Kong. By the end of 2015 PMD plans the device actively used in 5-10 hospitals around the world. This European funding will allow PMD to extend the application of its technology to monitoring Chronic Patients at home and also to support home screening of patients at risk of sleep apnoea - a sleeping disorder that can advance into other conditions if left untreated.
PMD, currently employing 10 exceptional individuals, plans to increase its team by a further 11 people over the next 18 months to grow its core functions - marketing and innovation. "The entire team was thrilled with the news of this EU funding, having previously applied to the SME Instrument twice before - first applying in December 2014, and again in June 2015. Each submission saw our ranking increase as the company grew its metrics, demonstrating PMD is a sustainable and high growth company. The process alone helped PMD to prepare for the future by sharpening the plan through continuously measuring our progress and refining the implementation strategy.” At each stage, PMD leveraged the expertise of Enterprise Ireland’s H2020 National Support Office, Cork Institute of Technology (CAPPA) centre, and Tyndall National Institute. This, along with exceptional company growth, resulted in PMD being 1 in 3 innovative SME’s across Europe to be funded. “There is exceptional support across Ireland for SME’s with a genuine business, a solid plan, and big ambition, who wish to apply for H2020.” This funding accelerates the Company’s ambitious plans to establish its core technology as the industry standard in respiratory monitoring by 2020. The team at PMD are all acutely focused at revolutionising respiratory monitoring and improving patient care, globally." quoted Mr Murray.