HealthBeacon and DCU announce Innovation Partnership at 'HealthBeacon Labs' opening
3rd April, 2019
Partnership to validate and build Patient Behaviour Tools
Leading Irish MedTech Company HealthBeacon unveiled its pioneering ‘Innovation partnership’ with Dublin City University, at the official opening of ‘HealthBeacon Labs’ - a new research and development facility at their recently expanded Dublin Headquarters.
The partnership, designed to accelerate cutting edge innovation within the healthcare arena, underscores HealthBeacon’s commitment to innovation in medical technology and healthcare. Both parties will work together to build predictive patient behaviour models based on real world insights, recognising the importance of data analytics in improving patient care.
To celebrate the innovative venture, HealthBeacon hosted a "Business Breakfast Bytes" event. Guests heard from keynote speakers: Professor Tomas Ward, AIB Chair in Data Analytics at DCU and Principal Investigator, Insight Centre for Data Analytics, Kieran Daly CTO and co-founder and Jim Joyce, CEO HealthBeacon and were invited on a tour of the new ‘HealthBeacon Lab’ facility, which includes both user experience and data lab.
Speaking at the launch DCU Professor Tomas Ward said; “As Ireland’s University of Enterprise, DCU is delighted to partner with one of Ireland’s most exciting and impactful health companies. We both share a recognition of the importance of data analytics in helping us better understand human health and behaviour. We are very excited to work together with HealthBeacon to realise new science in this area”.
The partnership recognises that the fusion of internet of things, technologies, artificial intelligence and large amounts of good quality data presents significant opportunities to meaningfully empower health care providers and their users, with insights which can lead to real improvements in healthcare delivery and patient-empowerment.
“HealthBeacon is dedicated to identifying new pathways to improve healthcare challenges through collaborative partnerships. Our partnership with DCU will nurture critical innovation within the healthcare arena to assist the acceleration and creation of better solutions. This work will ultimately result in better health predictions for improved health outcomes and quality of care” Kieran Daly CTO & Co Founder, HealthBeacon commented at the event.
Enterprise Ireland (EI) Innovation Partnership Programme contributes to the cost of research work to develop new and improved products, processes or services, or generate new knowledge and know-how. Outlining the benefits of the Programme, Eileen Bell, Senior Development Advisor, Enterprise Ireland speaking at the event said; “The life sciences sector accounts for a significant level of Ireland’s export revenue and the ‘HealthBeacon and DCU Innovation Partnership’ is an opportunity to further build on our strong international reputation for excellence and innovation in healthcare and ICT companies. Through the programme new and emerging enterprises will have the opportunity to access expertise and resources to develop new and improve products, processes and services and will benefit through direct collaboration and co-ordination with Irish research institutes on opportunities within the marketplace”.
Eileen added; “Furthermore, this project will enable both HealthBeacon and the DCU group to develop new data analytics approaches potentially building a basis to investigate other health related routine and variation aspects that could qualify for future research. Enterprise Ireland is delighted to support the initiative, which will ultimately go towards improving our own health service and further elevate Ireland’s status as a global leader in healthcare solutions.”
At the event, the HealthBeacon team offered industry guests guided tours of their new “HB Lab” facility. The new Data Analytics Lab & User Experience Lab, collectively called "HealthBeacon Labs" signals the next phase in growth for HealthBeacon. The HealthBeacon Data team expects to double in size by June this year and is ready for the next phase of expansion. The opening of ‘HB Labs’ marks a pivotal point for HealthBeacon to understand data driven and evidence-based patient needs.
Enterprise Ireland Innovation Partnership Programme
Enterprise Ireland (EI) Innovation Partnership Programme can (provide up to 80%) or contributes to the cost of research work to develop new and improved products, processes or services, or generate new knowledge and know-how. The Innovation Partnership Programme helps take businesses to the next level enabling companies to access the latest skills and expertise from research institutes throughout Ireland. The initiative is co-funded by Enterprise Ireland, the European Structural and Investment Funds 2014-2020. www.enterprise-ireland.com/InnovationPartnership
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HealthBeacon develops smart tools for managing medication.
HealthBeacon has developed an injectable medication management system that tightly monitors patients digitally, keeping them adherent to their prescription and leveraging real time data to drive clinical intervention. This system has been clinically reviewed, validated by the pharmaceutical industry and has been integrated into patient care programs throughout North America and Europe, delivering valuable data to both the patient and their clinical team.
Since opening the HealthBeacon office in 2014, HealthBeacon has added over 30 jobs and continues to expand both its Irish and Global teams. With offices in Dublin, Boston and Montreal HealthBeacon also has a presence in Latin America. HealthBeacon received FDA Approval for its technology in 2018. The use of HealthBeacon smart technology aims to make a dramatic impact to cost saving within the US healthcare industry. Current estimated costs to manage medication non-adherence are estimated to be $290bn in the US market alone. Clearance is part of HealthBeacon’s regulatory strategy to make its technology available globally.
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