• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to secondary sidebar
  • Skip to footer

  • Opinion
  • Health IT
    • Behavioral Health
    • Care Coordination
    • EMR/EHR
    • Interoperability
    • Patient Engagement
    • Population Health Management
    • Revenue Cycle Management
    • Social Determinants of Health
  • Digital Health
    • AI
    • Blockchain
    • Precision Medicine
    • Telehealth
    • Wearables
  • Startups
  • M&A
  • Value-based Care
    • Accountable Care (ACOs)
    • Medicare Advantage
  • Life Sciences
  • Research

Velano Vascular Raises $10M for FDA-Cleared Needle-Free Blood Draw Device

by Fred Pennic 05/08/2019 Leave a Comment

  • LinkedIn
  • Twitter
  • Facebook
  • Email
  • Print
Velano Vascular Raises $10M for FDA-Cleared Needle-Free Blood Draw Device
PIVO: FDA-Cleared Needle-Free Blood Draw Device

Velano Vascular, a San Francisco, CA-based vascular access technology innovator today announced that it has raised $10 million from strategic investor Intermountain Healthcare following the system’s rollout of the PIVO™ needle-free blood collection technology. The funding also included participation from Becton Dickinson’s former Chairman and CEO Edward Ludwig; notable entrepreneur, investor, and health sector philanthropist Marc Benioff; Baxter International’s former Chairman and CEO Robert Parkinson; and other undisclosed investors.

This additional financing brings Velano’s total investment to more than $37 million from a mix of healthcare companies, health systems, healthcare industry veterans, and venture capital firms that all share a commitment to establish a new standard of care for the world’s most vulnerable patients.

The Trauma, Risk, Waste Associated With Blood Draws

Blood draws are such a standard and common component of healthcare delivery, we tend to overlook the trauma, risk, and waste that they can create. More than one billion inpatient blood draws occur around the world every year, informing nearly 70% of all medical decisions. Yet this procedure is made more difficult and less efficient through the use of needles, a process that is further complicated by the rising number of Difficult Venous Access (DVA) patients. In addition, the rising incidence of aging, obesity and chronic illness is making venous access more difficult and less efficient.

A Revolution in Blood Draws

Velano was born out of a caring physician’s response to an inquisitive patient’s frustration. Founded in 2012. Velano Vascular is a dedicated team of experienced healthcare change agents came together to transform the way we draw blood in hospitals. Velano’s FDA-cleared PIVO needle-free blood collection device and its family of vascular access products combat the urgent challenge of vascular access globally.

PIVO: Needle-Free Blood Draw Device

PIVO is a needle-free, single-use, sterile device that temporarily attaches to a peripheral IV catheter to collect a fresh venous sample. Using the existing PIV line as a conduit to the vein, a flexible, internal flow tube is advanced through the PIV, beyond the catheter tip, and into the vessel to collect a blood sample. This flow tube is designed to extend beyond the suboptimal draw conditions around the IV to reach vessel locations where blood flow is optimal for aspiration. Once blood collection is complete, the device is retracted, removed from the PIV, and discarded.

PIVO Benefits for Hospitals & Patients

For hospitals that want to reduce painful blood collection ‘sticks’, preserve patient’s veins, and minimize reliance on central lines for blood draws, PIVO is a revolutionary vascular access device that expands the use of peripheral lines for high-quality blood draws.  PIVO provides significant, measurable value in patient experience, organizational risk, operating efficiencies, and overall quality of care.

Initial Pilot with Intermountain

Intermountain previously collaborated with San Francisco-based Velano Vascular to test, refine and pilot the company’s needle-free PIVO technology. Following hundreds of thousands of successful blood draws, Intermountain was the first health system in the United States to deploy PIVO systemwide as a standard of care.

“As the first health system in the U.S. to bring PIVO to our inpatient populations, we have witnessed the many positive impacts of Velano’s vision for a one-stick hospitalization firsthand,” said Intermountain Healthcare President & Chief Executive Officer A. Marc Harrison, MD. “We are thrilled to deepen our commitment to Velano and help deliver a new, more humane standard of care for all patients.”

Griffin Hospital: ICU Pilot of PIVO for Inpatient Blood Draws Pilot

Griffin Hospital performed a four-month ICU Pilot of 1,130 PIVO draws in February 2016 to assess PIVO usage and practitioner satisfaction. On a scale of 1-5, with 5 representing extremely satisfied, nurses rated their overall satisfaction with PIVO a 4.5 and believe PIVO should be used with at least 85% of ICU patients. All nurse survey respondents agreed that PIVO draws provide a better experience for the patient.

Patient and family member feedback was positive, reflecting an overwhelming appreciation for not having to continually be stuck for blood draws. In fact, two patients who received PIVO draws in the ICU later refused to have their blood drawn with a venipuncture needle upon transfer to another floor outside of the ICU.

Velano Expansion Plans

In 2018, Velano expanded the use of its blood collection technologies to ten states and to dozens of U.S. hospitals. A portion of the funding will also be deployed towards a state-of-the-art manufacturing line currently under construction in the United States. This new facility will begin production in 2019 to meet growing health system demand for Velano’s needle-free blood collection solutions.

“We are thrilled to welcome new and returning investors as we fuel our transformative efforts to meet the commercial demand for PIVO and a family of novel solutions,” said Velano Chief Executive Eric M. Stone. “Blood collection is a universal issue and PIVO will ultimately touch every human on the planet. We are excited to expand our family of supporters as we build production capacity in the United States, enlist new hospital partners, and realize our vision for a one-stick hospitalization.”

  • LinkedIn
  • Twitter
  • Facebook
  • Email
  • Print

Tagged With: baxter, blood collection, FDA, Health Systems, healthcare delivery, Intermountain Healthcare, MD, Notable, Partners, Patient Experience, risk, SAN FRANCISCO, Velano Vascular, venture capital

Tap Native

Get in-depth healthcare technology analysis and commentary delivered straight to your email weekly

Reader Interactions

Primary Sidebar

Subscribe to HIT Consultant

Latest insightful articles delivered straight to your inbox weekly.

Submit a Tip or Pitch

Featured Insights

2025 EMR Software Pricing Guide

2025 EMR Software Pricing Guide

Featured Interview

Kinetik CEO Sufian Chowdhury on Fighting NEMT Fraud & Waste

Most-Read

2019 MedTech Breakthrough Award Category Winners Announced

MedTech Breakthrough Announces 2025 MedTech Breakthrough Award Winners

WeightWatchers Files for Bankruptcy to Eliminate $1.15B in Debt

WeightWatchers Files for Bankruptcy to Eliminate $1.15B in Debt

KLAS: Epic Dominates 2024 EHR Market Share Amid Focus on Vendor Partnership; Oracle Health Sees Losses Despite Tech Advances

KLAS: Epic Dominates 2024 EHR Market Share Amid Focus on Vendor Partnership; Oracle Health Sees Losses Despite Tech Advances

'Cranky Index' Reveals EHR Alert Frustration Peaks Midweek, Highest Among Admin Staff

‘Cranky Index’ Reveals EHR Alert Frustration Peaks Midweek, Highest Among Admin Staff

Madison Dearborn Partners to Acquire Significant Stake in NextGen Healthcare

Madison Dearborn Partners to Acquire Significant Stake in NextGen Healthcare

Wandercraft Begins Clinical Trials for Physical AI-Powered Personal Exoskeleton

Wandercraft Begins Clinical Trials for Physical AI-Powered Personal Exoskeleton

Chipiron Secures $17M to Transform MRI Access with Portable Scanner

Chipiron Secures $17M to Transform MRI Access with Portable Scanner

Abbott to Integrate FreeStyle Libre Glucose Data with Epic EHR

Abbott to Integrate FreeStyle Libre Glucose Data with Epic EHR

5 Ways New Trump Administration Tariffs Are Impacting U.S. Healthcare Now

5 Ways Trump Administration Tariffs Are Impacting U.S. Healthcare Now

iCAD, GE HealthCare Integrate to Advance Breast Cancer Detection with AI

RadNet to Acquire iCAD for $103M in All-Stock Transaction

Secondary Sidebar

Footer

Company

  • About Us
  • Advertise with Us
  • Reprints and Permissions
  • Submit An Op-Ed
  • Contact
  • Subscribe

Editorial Coverage

  • Opinion
  • Health IT
    • Care Coordination
    • EMR/EHR
    • Interoperability
    • Population Health Management
    • Revenue Cycle Management
  • Digital Health
    • Artificial Intelligence
    • Blockchain Tech
    • Precision Medicine
    • Telehealth
    • Wearables
  • Startups
  • Value-Based Care
    • Accountable Care
    • Medicare Advantage

Connect

Subscribe to HIT Consultant Media

Latest insightful articles delivered straight to your inbox weekly

Copyright © 2025. HIT Consultant Media. All Rights Reserved. Privacy Policy |