Signostics Parent Company EchoNous Receives Additional Investment from KKR
September 28 | 2017
Funding to drive Uscan market expansion and continued innovation of AI-driven, highly miniaturized ultrasound devices to solve common problems in health care
EchoNous, the parent company of Signostics, today announced a new $35 million dollar investment from KKR, a leading global investment firm. Building on KKR’s initial $35 million dollar investment in the company in 2015, this additional investment will be used toward funding the ongoing market conversion of the company’s Uscan intelligent ultrasound tool for bladder and kidney care, while pursuing the ultimate nursing tool with a vein-finding solution and bringing a major new Artificial Intelligence (AI)-driven ultrasound project to market. For KKR, the investment is made as part of the firm’s health care growth equity strategy, which is focused on high-growth companies for which KKR can be a unique partner in helping reach scale.
“KKR has been a strong partner since our first investment round together, so we are very pleased to receive additional support from them as we build a world-class company dedicated to solving everyday problems in health care by fusing machine learning and miniaturized ultrasound,” said Kevin Goodwin, CEO of EchoNous. “We are confident that with KKR’s continued investment, we will accelerate Uscan’s market share in hospitals across the country, bringing a series of highly innovative, intelligent and unique health care tools to those who need them.”
Since its U.S. market launch in 2016, approximately 20% of U.S. health care systems have converted to Signostics’ Uscan intelligent ultrasound tool. Standing out against legacy conventional bladder scanners, the Uscan utilizes artificial intelligence and the extreme miniaturization of ultrasound to precisely measure bladder volume and bladder wall thickness, saving nurses time and health care systems money, while leading to improved patient satisfaction by reducing unnecessary catheterizations. Signostics intends to leverage its AI ultrasound technology to address peripheral IV access in early 2018.
“EchoNous is approaching ultrasound with a unique, AI-driven focus that we believe will revolutionize the way this technology is used in patient care,” said Justin Sabet-Peyman, Director on KKR’s Health Care investment team and Chairman of the Board of EchoNous. “The rapid adoption of Uscan demonstrates the company’s ability to execute on its innovative approach to ultrasound technologies, and we are excited about its ongoing development of new intelligent devices to improve health care.”
As seen with Uscan, the company’s AI-driven approach has led to industry-leading accuracy, allowing health care providers to make fast and informed decisions to help patients, while reducing the unnecessary costs related to catheterizations and associated urinary tract infections. Critical to the company’s approach to ongoing machine learning, each Uscan device shares data collected to produce high resolution 3D models of the bladder —free of patient identifiers— with Uscan servers to continually improve accuracy through automated software updates.
Signostics Sees Rapid Traction in Nursing Care Market with AI-Driven Bladder Tool Uscan™
August 24th | 2017
Company applying the emerging field of artificial intelligence with extreme miniaturization of ultrasound to solve common every day problems in healthcare
Signostics, a subsidiary of EchoNous and a KKR portfolio company, has seen the rapid conversion of nearly 20% of U.S. healthcare systems to its Uscan intelligent ultrasound tool since the product’s launch just last year. Utilizing a fusion of artificial intelligence and the extreme miniaturization of ultrasound, the new Uscan more precisely measures bladder volume and bladder wall thickness, resulting in significantly higher first-time measurement accuracy for nurses using the device. The growing market preference for Uscan is highlighted by a three-year agreement with Ohio-based Excelerate Strategic Health Sourcing enabling this top tier GPO to deploy the device for improved and more accurate bladder imaging.
“Unlike conventional bladder scanners, we are applying the emerging fields of artificial intelligence, including deep and machine learning, alongside extreme miniaturization of ultrasound to solve common every day problems in healthcare,” said Signostics CEO Kevin Goodwin. “The UScan is a simple-to-use, cost and time-efficient device that, beginning with bladder and kidney care, is dramatically increasing first-time accuracy, saving nurses time and improving catheter decisions by using ultrasound in patient care.”
Uscan requires only a simple fanning motion over the bladder to derive a highly accurate first-time measurement. The device captures 32 times more imaging data than conventional bladders scanners, recording 256 bladder data slices in each fan, then running this rich data set through a computer vision-based algorithm to produce a high-resolution 3D model of the bladder. Offering clinicians industry-leading accuracy, healthcare providers can then make fast and accurate decisions to potentially reduce unnecessary catheterizations and associated urinary tract infections, which cost hospitals millions of dollars each year.
“Beyond bladder and kidney care, we intend to apply our miniaturized, AI-driven, intelligent ultrasound tool to the challenges of peripheral IV access in early 2018,” continued Goodwin. “Based on our use of machine learning we are driving point and shoot simplicity, for a ‘see one – do one – teach one’ experience, which will lower the training burden for all types of users. We foresee the application of AI enabling a big step forward in training and usability of our devices.”
A new advance for Bladder and Kidney Care!
March 30th | 2017
Posted by: Tanya Amri, Director of Marketing & Communications
Effective April 1, 2017 to March 31, 2020, Signostics, the global innovator in smart, high reliability ultrasound devices, is excited to announce their contractual partnership with Vizient, the nation’s largest member-owned health services company (Contract XR0421).
“We are very excited after just 9 months from introducing our new Uscan device to the US market that we now have the opportunity to partner with Vizient,” said Kevin Goodwin, CEO.
Uscan is a breakthrough in bladder and kidney care utilizing cutting-edge, hand-held ultrasound technology along with the emerging field of artificial intelligence.
We have experienced a resoundingly positive response from US health systems and Urology practices throughout the US with weekly wins to report.
The Uscan device is proving to deliver industry leading accuracy* in the measurement of bladder volume residual, and it is our intention to extend its clinical value for the nursing community to improve efficiency and safety by adding additional clinical capabilities.
Following FDA clearance in March 2016, Uscan has been successfully evaluated at more than 100 hospitals and to numerous Urologists, and has been immediately selected by many major health systems for full house conversion in lieu of “conventional bladder scanners.”
Uscan is the world’s first advanced ultrasound tool for bladder care, representing a new category and breakthrough. The device uses advanced ultrasound signal processing as well as algorithms derived from the science of machine learning.
Uscan actively recognizes the 3D contours of the bladder, for far more accurate volume measurements than the industry standard* even on obese and other hard-to-scan patients by acquiring up to 256 bladder slices – 32 times more than conventional bladder scanners – resulting in industry-leading precision.
Additionally, Uscan offers added clinical capacity through real-time ultrasound imaging of the kidneys, pelvic floor, prostate, gallbladder, bladder stones, and urological catheter placement.
Uscan is based on the Android operating system, with built-in WiFi and Bluetooth connectivity enabling fast and reliable image management and interoperability with electronic health record (EHR) systems.
We are focused on raising the bar for Vizient in both product performance and value and most importantly customer service and cost of ownership.
Signostics Inc. is a wholly-owned subsidiary of Signostics Limited, whose parent company, Echonous, Inc., is a KKR portfolio company.
* Based on comparative measurements of a phantom of known volume
Signostics Initiates U.S. Commercial Launch of Uscan™, a Breakthrough in Bladder Care
Signostics Initiates U.S. Commercial Launch of Uscan™, a Breakthrough in Bladder Care
Uscan is the world’s first advanced ultrasound for bladder care
BOTHELL, WASH. – AUGUST 5, 2016 – Signostics, the global innovator in smart, highly reliable ultrasound devices, announced today that the new Uscan™ devices are now available for delivery in the U.S. Uscan is an intelligent ultrasound device for bladder care that offers high-definition sonographic imaging. It can also be used in additional applications such as kidney exams, image urological catheter and wall thickness measurement.
“We are very pleased to launch Uscan in the U.S., ensuring access to a new breakthrough in ultrasound technology that goes beyond the functionalities of conventional bladder scanners,” said Kevin Goodwin, CEO. “Using a small handheld device, Uscan’s dual capabilities of providing intelligent visualization coupled with high accuracy allows an enhanced understanding of patient information and more confident point-of-care clinical decision making.”
“Since its recent FDA clearance, Uscan has been successfully demonstrated at more than 100 hospitals across the country, as well as to physicians attending the American Urological Association’s 2016 Annual Meeting,” said Ryan Detzel, vice president of sales. “Having Uscan units now available in the U.S. allows us to fulfill existing orders and provide evaluation units for customers who wish to test the newest technology in the ultrasound space.”
Uscan offers the lowest cost of ownership in the industry: 5-year product warranty with no additional costs for calibration. It is simple to learn and use, and provides real-time user guidance, eliminating the need for extensive training.
Uscan’s integrated ultrasound mode is not found in any comparably priced systems, and can be used in a wide range of clinical and diagnostics applications, including urology, the emergency department, maternity, pediatrics, oncology, rehabilitation, aged care and home nursing. The system’s removable probe, high-resolution touch screen tablet and handheld displays make it ideally suited for on-the-go clinical care.
Uscan is the world’s first advanced ultrasound for bladder care, representing a category breakthrough. Using ultrasound and algorithms from the science of computer vision, Uscan actively recognizes the 3D contours of the bladder, for far more accurate volume measurements than the industry standard* even on obese and other hard-to-scan patients. It acquires up to 256 bladder slices – 32 times more than conventional bladder scanners – resulting in industry-leading accuracy. Beyond the bladder, Uscan adds unique clinical capacity through real-time ultrasound imaging of the kidneys, pelvic floor, prostate, gallbladder, bladder stones and image urological catheter. It is compatible with Android operating systems, and has built-in WiFi and Bluetooth connectivity that enables fast and reliable image management and interoperability with electronic health record (EHR) systems.
Signostics Inc. is a wholly-owned subsidiary of Signostics Limited, a global medical device manufacturer. Its parent company, Echonous, Inc., is a KKR portfolio company. Signostics is pioneering advanced ultrasound devices for imaging and clinical decision making. The company’s flagship product Uscan, is a handheld ultrasound device for bladder care that is embarking on the use of highly miniaturized technology through the science of computer vision. Uscan can also be used to image kidneys, pelvic floor, prostate, gallbladder, bladder stones and image urological catheter. The company has regulatory approvals in the U.S., Europe and Australia, and exports to countries around the world. For more information, visit www.signosticsmedical.com.
Signostics and Uscan are Trademarks of Signostics Limited.
Caution: Federal (USA) law restricts this device to sale by or on the order of a physician.
*Based on comparative measurements of a phantom of known volume.
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Improving Imaging-Reducing Costs and Errors – Providing Budgetary Solutions
Med One Capital and Signostics are pleased to announce they have joined forces to provide clinicians with the latest in portable ultrasound technology coupled with customized financial options aimed at eliminating budgetary restraints and paving the way for immediate adoption.
In early May 2016, Signostics launched its newest technology at the American Urological Association meeting. When the attendees indicated an immediate need for financing it brought the two companies together, allowing acute care and private practices to move forward rapidly with this unmatched portable ultrasound technology.
Robb Stevens, SVP of Leasing Sales at Med One Capital, said, “We look forward to working with the Signostics team to provide our 25-plus years of experience financing medical technologies for healthcare providers. We recognize the value of this new technology and believe that together we can provide a simple and easy solutions for any customer to acquire it.”
Signostics VP of Sales, Ryan Detzel said, “We recognized that many customers would see immediate value in USCAN but would need help in finding the budget. Med One Capital was our number one choice based on their knowledge of our customers’ needs and their reputation for being committed to helping healthcare providers access new technology, as well as their simple and easy to understand process.”Continue Reading…