ivWatch said today that it inked a long-term development and commercialization deal to integrate its continuous IV monitor into new medical devices and systems made by ICU Medical (NSDQ:ICUI).
The deal paves the way for EHR interoperability, according to ivWatch, by connecting the two companies’ systems and enabling the exchange of data.
“Our two companies can optimize our services with the multi-dimensional interchange of data sets to not just improve the continuum of care, but also patient outcomes,” Gary Warren, president & CEO of ivWatch, said in prepared remarks. “ICU Medical’s expertise in developing IV-EHR interoperability solutions will support our mission to help advance patient safety.”
“Interoperability provides significant value to healthcare organizations with improvements in safety and efficiency,” Matthew Hutchings, ICU Medicals senior director of marketing and innovation for IV systems, added. “We see a great opportunity to enhance these benefits through our relationship with ivWatch.”
“Interoperability is essential for customers and often a requirement during the buying decision process,” Scott Hensley, VP of sales & business development at ivWatch, said. “With ivWatch and ICU Medical working together, we can reach more patients and assist institutions with keeping patients safe from preventable harm and drug delivery errors.”
In August this year, ivWatch won CE Mark clearance for its IV infiltration/extravasation monitoring device.
The company’s sensor, which is roughly the size of a pencil eraser, uses light to measure the optical density of the tissue surrounding an IV insertion site, monitoring the flow of fluid as it moves into a person’s vein.
