UT Austin Engineers Find Breakthrough in Wearable Health
The Cockrell School of Engineering at the University of Texas at Austin announced their invention of a methodology to creating low-cost, high performing body patches that measure key vital signs similar to traditional leading monitoring devices. The group’s new process cuts manufacturing times of these monitoring patches from a few days to less than 20 minutes.
These wearable patches, which resemble a temporary tattoo, measure body metrics such as heart rate, hydration levels, movement, body temp and even certain types of brain activities. The team’s new process for creating the patches mimics 3D printing and has the potential to drastically reduce the price of mass production in the years to come.
Techstars Launches Its First Ever Healthcare Accelerator
Late last week, Cedars-Sinai and Techstars announced a partnership that will launch an accelerator program to allow entrepreneurs to work to improve healthcare by developing new, innovative technologies.
“Techstars is committed to working with Cedars-Sinai to find the most innovative entrepreneurs who will bring us closer to advancing the current healthcare ecosystem,” said David Brown, co-founder and managing partner at Techstars in a news release. “Our partnership will help entrepreneurs tap into the Cedars-Sinai family of more than 19,000 physicians, employees, and volunteers to foster the next wave of healthtech entrepreneurs.”
The Techstars Healthcare Accelerator is a 3 month program where accepted entrepreneurs will have access to up to $120,000 for their project. At the end of the 3 months, all participants will have the opportunity to demo their newly created product to investors and company executives with the hope of obtaining further funding to continue to build their businesses.
Health Wearables to Reach 162.9M Device Shipments in 2020
BI Intelligence released its sector report on health wearables last week and highlighted some impressive growth numbers related to shipments of wearable devices. The company anticipates a 24.8% growth rate over the next 5 years with a total of 162.9M units being shipped by 2020.
The wearable market as a whole is really still in its infancy in terms of growth potential, however tech companies including Apple, Google and Samsung have all invested huge resources into the future of wearable tech. As concerns such as privacy, regulation and device efficacy begin to become less widespread, expect wearable adoption to continue to expand within the next decade.
Israel’s Health Tech Sector Sees Impressive Growth
A recent report by Israel Advanced Tech Industries indicates several impressive growth statistics related to Israel’s healthcare technology sector. Of the 73 biotech life sciences IPOs in all of 2014, 7 were from Israeli companies. Over $800 million was invested in 167 different life science companies in 2014- a 55% increase from the previous year. Israel life sciences companies also raised more than $1.4bn on the NASDAQ in 2014.
Over the past year, numerous partnerships and foreign investments have poured into the country including Johnson and Johnson’s new Israeli R&D facility and Johns Hopkins Technology Venture’s multi-year partnership agreements with local health incubators. As foreign players continue to invest in health innovation in Israel, look for the country to be a hub for future health tech breakthroughs.
This article is brought to you by Enola Labs, an Austin, Texas-based healthcare software development company focusing on custom solutions for companies ranging from startups to large health providers.