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Fred Pennic, Editor-in Chief | HIT Consultant

Fred Pennic is the Founder and Editor-in-Chief of HIT Consultant.

GenapSys Nabs $90M to Commercialize Its Breakthrough Electronic Gene Sequencer

by Fred Pennic 11/20/2019 Leave a Comment

- GenapSys launches their first-of-its-kind electronic gene sequencer as well as the completion of a $90M series C funding round led by top biotech investor Foresite Capital. - GenapSys is the first & only to use direct electronic sequencing -- this allows for a simpler workflow, dramatically reduced costs, turnaround time and device size. - The GenapSys Sequencer is exceptionally accurate and 100x smaller and more affordable than current high-throughput sequencers and will significantly expand access to genetic health insights. GenapSys Inc. announced today that it has completed a $90 million funding round, led by Foresite Capital to commercialize the smallest and most affordable highly accurate sequencer ever developed. Now available for purchase, the device uses first-of-its-kind technology to deliver results at a fraction of the cost of legacy technologies, while still delivering highly accurate results. This latest investment round brings the company’s total funding to $166M to date. The new capital will be used to drive the commercial launch of the company’s first-generation product, grow GenapSys’ interdisciplinary team, and empower continued innovation. Accessible Sequencing Holds the Key to Innovation In 2019, 10 million people will die of cancer. And, yet, only 3 percent of cancer drugs tested in clinical trials since 2000 have been approved for patient use and not a single one offers a cure. Gene sequencing maybe the answer. By analyzing every component of our DNA, gene sequencing allows doctors and scientists to more effectively diagnose disease and develop better treatments. Beyond cancer, sequencing has the potential to supercharge everything from reproductive health to pathogen testing. But a single sequencing device typically costs up to $1M, limiting its reach and acting as a major bottleneck to advancement in healthcare. A Breakthrough in Sequencing with High Accuracy and Low Cost GenapSys is the first & only to use direct electronic sequencing -- this allows for a simpler workflow, dramatically reduced costs, turnaround time and device size miniaturized to the size of an iPad. It's up to 100x smaller and less expensive at under $10,000 than legacy sequencing technologies, while redefining the gold standard with over 99.9% accuracy. In other words, similar to the iPhone, sequencing will be taken to the size of a mobile device and made affordable to nearly any institution. For the $46B genomics market previously dominated by much more expensive device companies like Illumina, this could transform healthcare as we know it. Unlike many others on the market, GenapSys achieves gold standard accuracy while maintaining low costs and portability. An independent study conducted by The Jackson Laboratory, a leading global nonprofit biomedical research institution, found that GenapSys sequencers deliver consistent and excellent performance across a variety of biological samples. Recently at American Society of Human Genetics in Houston, The Jackson Laboratory presented the results of their study which found that the GenapSys sequencers are superior to optical detection methods in detecting single nucleotide mutations, a critical task used for cancer and inherited disease detection. Availability The GenapSys sequencer has been tested extensively across leading genomics labs across the nation. All studies thus far have indicated exceptional performance; published work is publicly available on BioRxiv. The GenapSys Sequencer is currently available for order in the U.S. with global sales beginning in early 2020. “We are entering a multi-decade era of genomics that will revolutionize many industries, including healthcare diagnostics, pharmaceutical discovery, personalized medicine, food testing, forensics, agriculture, biology and beyond - but until now, we’ve lacked the access necessary to realize this potential,” explained Dr. Hesaam Esfandyarpour, CEO and founder of GenapSys. “With our new sequencer, we can rapidly enable and scale genomics power to every researcher, physician, provider, and patient around the world.”

- GenapSys launches first-of-its-kind electronic gene sequencer as well as the completion of a $90M series C funding round led by top biotech investor Foresite Capital.  - GenapSys is the first & only to use direct electronic sequencing -- this allows for a simpler workflow, dramatically reduced costs, turnaround time and device size.- The GenapSys Sequencer is exceptionally accurate and 100x smaller and more affordable than current high-throughput sequencers and will significantly expand
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Geisinger, Medial EarlySign Advances to First Stage of CMS AI Health Outcomes Challenge

by Fred Pennic 11/20/2019 Leave a Comment

Clinical Operations Makes Highest Use of Artificial Intelligence, Tufts Study Finds

- Geisinger Health was recently named by the Centers for Medicare & Medicaid Services among the 25 candidates advancing to the first stage of its AI Health Outcomes challenge.- The CMS AI Health Outcomes challenge provides innovators with the opportunity to demonstrate how AI tools may be implemented to predict health outcomes and keep patients healthy in hopes of more AI tools being considered for potential use in CMS Innovation Center payment and service delivery models. Geisinger, an
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HHS Launches $1.5M Second Phase of KidneyX Prize Competition to Redesign Dialysis

by Fred Pennic 11/20/2019 Leave a Comment

HHS Launches $1.5M Second Phase of KidneyX Prize Competition to Redesign Dialysis

- KidneyX launches the $1.5 million second phase of the Redesign Dialysis prize competition.- Redesign Dialysis Phase 2 seeks prototype solutions or components of solutions, that can replicate normal kidney functions or improve dialysis access.- The competition calls on researchers, innovators, patients, and investors with expertise in nephrology, biotechnology, bioengineering, and medical devices to submit solutions.The U.S. Department of Health and Human Services (HHS) and the American Society
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Kareo Sells Managed Billing Services Business to Health Prime International

by Fred Pennic 11/19/2019 Leave a Comment

Kareo Sells Managed Billing Services Business to Health Prime International

- Karo sells Karo Managed Billing services business to Health Prime International, an independent supplier of outsourced medical billing services. - The sale enables Kareo to retain its focus on advancing it's industry-leading cloud-based clinical and business management software platform for both independent medical practices and medical billing companies.Kareo, a provider of cloud-based clinical and business management software for independent medical practices and medical billing companies
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Pipeline Health Upgrades to Cerner Millennium EHR Across Network

by Fred Pennic 11/19/2019 Leave a Comment

Pipeline Health Upgrades to Cerner Millennium EHR Across Enterprise Network

- Pipeline Health selects Cerner to upgrade to a single, integrated EHR across 7 hospitals, 25 clinics, and 12 free-standing emergency departments within the Pipeline Health network. - Pipeline Health will gain access to the Cerner Millennium EHR, including clinical, revenue cycle, ambulatory, and value-based care solutions through a remote-hosted model.  - Cerner will replace multiple disparate EHR systems across the Pipeline Health network. The new platform will be rolled out during a
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Wellframe Raises $20M to Accelerate Digital Care Management Solution for Care Teams

by Fred Pennic 11/19/2019 Leave a Comment

Wellframe Raises $20M to Accelerate Digital Care Management Solution for Care Teams

- Wellframe raises $20M in Series C funding to support company growth, including hiring in its Boston office, and accelerate its leadership in the Digital Health Management market.Wellframe translates evidence-based, peer-reviewed guidelines and literature into an interactive daily checklist delivered to patients through the Wellframe mobile app.The additional funding announced today will also enable Wellframe to accelerate the next phase of its Digital Health Management solutions, Digital
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VA to Deploy Podimetrics SmartMat Regionally to Prevent Diabetic Foot Ulcers

by Fred Pennic 11/18/2019 Leave a Comment

VA to Deploy Podimetrics SmartMat Regionally to Prevent Diabetic Foot Ulcers

- VA recently announced they will be offering a care management solution designed to detect and prevent one of the costliest and most complicated diabetes-related issues, diabetic foot ulcers, to a wider group of veterans in need. - The solution, Podimetrics' SmartMat, is currently in 15 VAs and starting Dec. 1, more VAs will begin offering the easy-to-use mat to its patients.- Last year alone, the VA treated nearly 75,000 cases of DFU and spends more than $3 billion per year on the issue,
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Heart Failure is Detectable at Point of Care Using ECG-Enabled Stethoscope, Mayo Clinic and Eko Finds

by Fred Pennic 11/18/2019 Leave a Comment

Eko Duo Receives FDA Clearance to Market Combined Digital Stethoscope/ECG Smart Device

- Eko and Mayo Clinic announced they have proven that heart failure is detectable during routine physical exams, further validating the Eko DUO digital stethoscopes as a heart failure screening tool. - Today’s news marks the first time that a point of care device with a single lead ECG combined with an AI algorithm identified low ejection fraction in patients.- The results of these findings, which are comparable to research published earlier this year in NatureMedicine, were presented over the
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Biofourmis Acquires Clinical-Grade Wearable Biosensor Platform Biovoation AG

by Fred Pennic 11/18/2019 Leave a Comment

Biofourmis AI Analytics Engine Receives FDA Clearance for Ambulatory Physiologic Monitoring

  - Biofourmis acquires Zürich, Switzerland-based Biovotion AG, a leading developer of a cutting-edge clinical-grade wearable biosensor platform.- The Biovotion AG deal comes with 60 global patents covering much of the existing wearables tech for the arm and hand, as well as an impressive list of more than 80 current and previous clients/partners—including major players such as Microsoft, IBM Research, Novartis, AstraZeneca, Cleveland Clinic, Mayo Clinic, Penn Medicine and Helios.- The cash +
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Life Image, Graticule Launches Imaging Dataset In AWS Data Exchange

by Fred Pennic 11/18/2019 Leave a Comment

Life Image, Graticule Launches Imaging Dataset In AWS Data Exchange

 - Life Image and Graticule announced the availability of GLIMPS (Graticule Life Image Machine Parsed Set) data licensing subscriptions in AWS Data Exchange. - GLIMPS (Graticule Life Image Machine Parsed Set) is a de-identified patient-level data set including a summary of features generated from NLP processing on Life Image data. - The goal of GLIMPS is to provide a cost-effective patient-level snapshot to biopharma data science teams to fuel the necessary discussions about these data, leading
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