Minneapolis-based Smiths Medical will invest an unspecified amount in the long-term partnership to “revolutionize” infusion management and improve patient safety while meeting the needs of healthcare providers, according to a news release.
Boston-based Ivenix develops what it touts as “the first and only large-volume infusion pump from the ground up” designed to meet the latest FDA guidelines addressing recurring safety issues with such pumps.
Ivenix’s infusion system consists of the large-volume pump with administration sets, infusion management tools and analytics, too. The FDA granted the system 510(k) clearance in June 2019 and the company says the platform is designed t to reduce infusion-related errors and drive down the cost of ownership.
Smiths Medical said its complementary portfolio of infusion systems, including CADD-Solis and Medfusion, include syringe and ambulatory pumps designed for adult and neonatal critical care, operating rooms and pain management in hospital and home settings.
The company said the addition of the Ivenix infusion system to its U.S. product portfolio will accelerate its offering into the large-volume infusion device segment, a market estimated to top $2 billion. Smiths plans to launch the Ivenix system as part of its portfolio this coming summer.
“The long-term partnership between Smiths Medical and Ivenix will ensure that we are bringing the next generation of infusion management solutions to hospitals across the U.S. and fulfills our commitment to helping connect patients to life-saving therapies and insights to providers,” Smiths Medical CEO JehanZeb Noor said in the release. “Our investment in Ivenix will help spur the research and development needed to continue building on this critical resource and provide holistic solutions for hospitals and health systems.”
“This partnership allows us to accelerate the commercial reach of our infusion platform, and together provide a portfolio of leading-edge infusion solutions to deliver the highest standard of safe and integrated infusion care,” added Ivenix CEO Jorgen B. Hansen.