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Tuesday, September 14, 2010
The Pitch
HanGenix aims to ensure hygiene, stave off infections
By Lynette F. Cornell
Regenerative medicine firms make business of creating skin
MHT's Emerging Technologies Forum: Health IT and the Cloud
HanGenix
Headquarters: Chelmsford
Phone: 617-901-8399
Email: steve.schiefen@hangenix.com
URL: www.hangenix.com
Founded: 2010
Employees: 4
In the company’s own words:
“Hospital acquired infections (HAIs) are a serious health and economic issue, affecting more than two million people per year with treatment costs approaching $5 billion in the United States alone. According to the Centers for Disease Control and Prevention (CDC), nearly 100,000 deaths are caused by HAIs every year. Worldwide, the cost of treating these infections is estimated at over $20 billion. Compliance with hand hygiene protocols is key to preventing many of these infections. Despite this evidence, the compliance rate nationwide is less than 50 percent. Using our patent pending ultrasound technology, HanGenix provides a solution that provides a reminder the moment proper hand hygiene has not been performed, having an immediate positive impact on hand hygiene compliance. In addition, our system captures and reports the data necessary to show progress against organizational goals. The HanGenix solution is accurate, affordable and easy to use.”
The Technology:
Mounted above the patient’s bed is an ultrasound device that sends out a signal covering the area of the bed. Another transmitter is mounted on the room’s soap or alcohol gel dispenser and knows when the pump has been activated by sensing the vibrations created by the pump’s movement. The care giver wears a device that receives a signal from the pump dispenser when they wash their hands or apply sanitizing gel. If the care giver then approaches the bed, the receiver picks up a signal from the bed’s transmitter and then relays the information to a database that tracks the care giver’s interaction with the patient and their hand sanitation compliance. If the care giver fails to clean their hands, the receiver will emit an audible beep to remind them to do so and record the action. Medical institutions can choose from two pricing models: purchasing the hardware and subscribing to the SaaS tracking software or renting the whole system on a recurring basis.
People behind the company:
Steve Schiefen, president and CEO, most recently served as president and CEO of Radianse Inc., a company that develops RFID tracking technology for the healthcare industry and was acquired by Consortium H. Diane Marcou, CFO, has been a financial professional for over 20 years, with the last five years spent consulting to small and mid-size companies, including Radianse.
The pitch:
HanGenix is currently seeking $2.5 million to commercialize its current prototypes, complete software development and hire sales team members.
The market:
Schiefen said the company is pursuing the hospital infection control market, which he calculates is $1.5 billion for hospitals in the United States alone. Other potential clients he plans to pursue include assisted care facilities and nursing homes, a market he expects to increase in size as the population ages. HanGenix has recently acquired its first customer, a Boston-area hospital, and has agreements in place for three other hospitals. The hospitals benefit from improved bottom lines, increased reimbursement and improved compliance scores, said Schiefen. Lower rates of infection will also help in attracting patient revenue, he said.
The competition:
Currently, hospitals use manual tracking to show their progress against hand hygiene goals. This style of tracking, said Schiefen, is inaccurate and needs to be replaced by something automatic. In addition, HanGenix will be competing with companies such as Florida-based XHale Innovations Inc. and California-based BioVigil LLC, both of which have developed similar sensing and tracking technologies.
"The Pitch" takes a look at a company, its executives and its technology-related business plan. To nominate your company for The Pitch section of Mass High Tech, please fill out the submission form.
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