Press release 7.3.2017
RemoteA wins EUR 1.2 million EU funding to develop SmartECG, the first universal algorithm-based solution aimed at getting heart patients to treatment faster
RemoteA Oy has raised EUR 1.2 million in funding from the EU to develop SmartECG, an algorithm-based software product for automatically analysing ECG. Of the 104 ICT companies that applied for the funding, only four companies were chosen, with RemoteA receiving the highest scores. The SmartECG solution is made unique by its universality: SmartECG will be the first and only automatic clinical decision-making support solution to be compatible with 80% of ECG-monitoring devices, and suitable for both primary and secondary health care professionals. SmartECG will also be the first and only clinical decision making tool for GP’s when treating patients with cardiovascular disease.
“As a result of the EU’s Horizon 2020 SME funding, we will finalise our SmartECG solution, ensure market clearance in all targeted countries and start full scale market introduction in 2018,” says Ossi Tiihonen, Managing Director and founder of RemoteA Oy. “We will also strengthen our analytics team by recruiting new algorithm specialists and software developers.”
Cardiovascular disease is within the top two causes of death in all European Union countries. Today, treatment for cardiovascular disease accounts for up to 17% of total healthcare expenditure in the EU, with a total annual cost of EUR 196 billion. At the same time, there are far too many cardiac patients in Europe waiting for treatment, as there are too few cardiologists.
SmartECG is a machine-assisted clinical decision support system. Its smart algorithms automatically interpret analysis results and make a preliminary prioritization of data to assist medical professionals in diagnosis and treatment. The software solution comprises a clinical decision-making support tool and a telemedicine consultation platform. SmartECG works independently or can be part of AI solutions.
SmartECG makes high-quality heart monitoring more readily available, and thus makes it possible for medical professionals to analyse more patients faster, more thoroughly and more frequently than with current solutions, both in the EU and globally. As a future vision, a person suffering from heart problems could be linked to the solution even before their first visit to a GP, with a cardiac device that is own or borrowed from a library, for instance.
RemoteA Ltd is a privately owned Finnish medical technology company founded in 2002, specializing in cardiac data analysis and electronic healthcare services. As pioneers in remote diagnostics, we have provided healthcare units in Finland, Sweden and the UK with a total of 170,000 ECG, sleep apnea and blood pressure remote analyses in the past fifteen years. We employ software, algorithm and business experts and cooperate with leading cardiologists.