News Article | July 25, 2017
SANTA CLARA, Calif.--(BUSINESS WIRE)--Shape Memory Medical Inc. announced today the initial closing of its Series-B Preferred Stock financing. The round was led by HBM Healthcare Investments Ltd. Current investors, including affiliates of Wexford Capital LP and HBM-MedFocus Funds participated in this financing, and were joined by new investor Emergent Medical Partners. This round is being funded in two equal tranches of $7.0 million each, and also includes conversion of $4.0 million of convertible notes. The Company intends to use the proceeds of the financing to continue the acceleration of regulatory, clinical and commercialization activities for its polymer embolization devices, which are based on proprietary shape memory polymer technologies licensed from Lawrence Livermore National Laboratory and Texas A&M University. In total, the Company has access, via licensing or internal development, to a total of 45 issued and pending patents pertaining to the Company’s proprietary polymer technology. These patents cover both basic polymers and specific clinical uses of these polymers. “ We are excited that this financing will allow Shape Memory Medical to move our IMPEDETM peripheral and TrelliXTM neurovascular embolization products forward,” said Ted Ruppel, president and CEO of Shape Memory Medical. “ This additional investment in our company will allow us to continue seeking regulatory approvals and clinical use of our peripheral embolization devices, and continued development of our neurovascular coils. We are very encouraged by the response of physicians to our prospective products, which we believe will provide superior clinical benefits compared to current technologies, based on preclinical testing.” Shape Memory Medical Inc., based in Santa Clara, California, is committed to developing multiple medical therapies with their novel Shape Memory Polymers for embolization. Visit www.shapemem.com. NOTE: The Company’s IMPEDE peripheral products and TrelliX neurovascular products have not been approved or cleared by the FDA and are not commercially available.
News Article | December 1, 2016
Medical Memory Inc., video patient engagement technology (VPE) pioneer, announced today that it is expanding its national pilot program for its enterprise VPE solution, Medical Memory Pro, following a series of successful implementations with leading hospitals such as Barrow Neurological Institute, Dignity Health, University of California Irvine Medical Center, Banner University Medical Center Tucson and others. Medical Memory Pro is the premier video patient engagement (VPE) choice for hospitals, ambulatory care and surgical centers that need to increase patient satisfaction while simultaneously improving financial performance. The announcement aligns with the company’s nationwide expansion and partnering plans. "Effective communication between doctor and patient is as important as any medication we prescribe to help our patients achieve a desired health outcome, and in some cases, even more important,” said Dr. Randall Porter, neurosurgeon and co-founder of Medical Memory. “Since our inception in 2015, we have recorded over 22,000 videos with a 50-60 percent patient open rate on videos and not one lawsuit for our clients. In that sizable sample of videos, we have seen a 50 percent increase in Hospital Consumer Assessment of Healthcare Providers and Systems survey satisfaction rates and a 12 percent decrease in preventable re-admissions. Video patient engagement is making a difference in healthcare.” Medical Memory’s Software-as-a-Service (SaaS) application delivers a measurable return on investment (ROI) for hospital operators by lowering preventable re-admissions and improving Medicare and Medicaid value-based reimbursements. The HIPAA-secure, cloud-based solution offers healthcare providers and their patients the ability to securely record medical conversations - physician consult, pre-op and post-op, informed consent and discharge - and remotely access videos via mobile or web to review with family and other care providers, post-visit or discharge. Medical Memory also makes available a subscription-based version of its technology for private physicians, Medical Memory Standard, at http://www.themedicalmemory.com/medical-memory.html. Medical Memory’s pilot program for its enterprise solution was designed to simplify the adoption of video technology for hospitals focused on patient engagement, while delivering a compelling proof case for broader hospital-wide utilization. Medical Memory Pro pilots represent a turnkey solution for hospitals, with pre-configured Apple iPads and user training so that users can be fully functional in hours, not days. “Hospitals are moving from ‘volume-based’ healthcare delivery to ‘value-based’ delivery, with a focus on patient comprehension, satisfaction and trust,” said Lucas Felt, chief executive officer and co-founder for Medical Memory. “We are excited to support that shift with a familiar technology – video – that restores control over conversations to physicians and actually reduces risk for healthcare operators and practitioners. Smartphones are carried into hospitals today by patients and used for recording conversations – something that is neither secure nor sustainable. Medical Memory is out in front of this issue with an easy-to-use technology that fully integrates with electronic medical record (EMR) platforms.” Medical Memory has two principal offerings: Medical Memory Pro for enterprise applications in hospitals, ambulatory care and surgical centers and Medical Memory Standard for private physicians, now available for subscription. Some of the important distinctions and capabilities available with Medical Memory Pro include: 1 EMR/EHR Integration a. Medical Memory is EMR/EHR integration-ready subject to client requirements, allowing users to populate names automatically from EMR/EHR solutions inside the Medical Memory Pro application at time of admission – accelerating adoption and simplifying use. 2. Turnkey Solution a. Medical Memory Pro is a complete enterprise solution consisting of Apple iPads pre-configured with Medical Memory Pro software; together with user training so operators have minimum set-up and can be ready in hours, not days. 3. Results-based Pricing a. Medical Memory Pro pricing is a subscription-based pricing model where results - video interaction or survey - are transaction-priced, allowing hospitals to deliver value for patients and administrators quickly and scale usage economically. 4. Patient Surveys a. Hospitals can customize patient surveys within Medical Memory Pro to capture behavioral and demographic information. Medical Memory surveys historically show a 50% completion relative to a national average of 8% for traditional surveys. 5. Patient Analytics a. Real-time patient analytics are available based on data accumulated from completed surveys and patient utilization statistics; for use in early diagnostic detection and guiding value-based policies for improving patient experience. 6. Immediate Patient Access a. Patients can access their HIPAA-secure videos within minutes of discharge, because of the industry’s first upstream video management technology, HealthVM. About Medical Memory Founded in 2015, The Medical Memory is a privately held technology company, and the first to offer a video patient engagement (VPE) technology solution for hospitals and healthcare providers. The SaaS application solves the problem of low patient compliance and satisfaction while creating a hard ROI for hospital operators by lowering re-admissions, mitigating risk and improving Medicare/Medicaid value-based reimbursements. The HIPAA-secure, cloud-based solution offers healthcare providers and their patients the ability to securely record medical conversations, and remotely access via mobile and web to review with family and other care providers, post-visit or discharge. Unlike other patient engagement platforms focused on one-dimensional “call and response” reminder systems, Medical Memory leverages VPE to create a dynamic understanding of patients, which helps clients exceed their patient engagement goals. Declaring that ‘healthcare is a human business’, Medical Memory’s mission is to improve patient comprehension, satisfaction, and trust. For more information, visit http://www.themedicalmemory.com.
The Medical Memory | Date: 2014-01-20
A degradation data generator is used with a scaffold for delivery within a patient. The degradation data generator includes a driving circuit electrically coupled to drive an impedance of the scaffold. A detection circuit generates degradation data based on the impedance of the scaffold or other properties such as RF or lightwave transmission, conductance or absorption. The degradation data indicates an amount of biodegradation of the scaffold. A wireless transmitter is coupled to transmit the degradation data to a wireless degradation data receiver, while the scaffold is within the patient.
The Medical Memory | Date: 2014-01-20
A loading data generator can be used with a scaffold for delivery within a patient. The loading data generator includes a driving circuit electrically coupled to drive an impedance of the scaffold. A detection circuit generates loading data based on the impedance of the scaffold, wherein the loading data indicates an amount of impregnation of the therapeutic material in the scaffold.
The Medical Memory | Date: 2013-08-01
A system for deploying a shape memory catheterization device within a patient, includes a catheter for endovascular insertion of the shape memory catheterization device. A heat source heats the shape memory catheterization device above the transition temperature. A transformation data generator includes a circuit driver for driving a circuit that includes at least one capacitive element of the shape memory catheterization device and a detection circuit for generating transformation data based on a capacitance of the at least one capacitive element, wherein the transformation data indicates a shape transformation of the shape memory catheterization device from a catheterization shape to a transformed shape.
The Medical Memory | Date: 2013-08-01
A system for deploying a shape memory catheterization device within a patient, includes a catheter for endovascular insertion of the shape memory catheterization device. A heat source heats the shape memory catheterization device above the transition temperature. A transformation data generator includes a circuit driver for driving a circuit that includes at least one inductive element of the shape memory catheterization device and a detection circuit for generating transformation data based on an inductance of the at least one inductive element, wherein the transformation data indicates a shape transformation of the shape memory catheterization device from a catheterization shape to a transformed shape.
The Medical Memory | Date: 2013-08-01
A system for deploying a shape memory catheterization device within a patient, includes a catheter for endovascular insertion of the shape memory catheterization device. A heat source heats the shape memory catheterization device above the transition temperature. A transformation data generator includes a circuit driver for driving a circuit that includes at least one resistive element of the shape memory catheterization device and a detection circuit for generating transformation data based on a resistance of the at least one resistive element, wherein the transformation data indicates a shape transformation of the shape memory catheterization device from a catheterization shape to a transformed shape.
Agency: Department of Health and Human Services | Branch: National Institutes of Health | Program: SBIR | Phase: Phase II | Award Amount: 1.16M | Year: 2016
ABSTRACT Venous insufficiency VI is the cause of more than annual hospitalizations in the U S and accounts for more than $ billion in annual healthcare expenses accounting for approximately of the entire healthcare budget VI occurs when the valves within veins are weakened and can no longer prevent backflow and blood pooling As a result the vein dilates and if left untreated can cause persistent abdominal pain infertility and even ulcer formation To alleviate the symptoms of VI physicians aim to permanently exclude the diseased vessel from systemic flow The current gold standard of treatment is the implantation of platinum embolic coils combined with a detergent injection known as sclerotherapy which chemically burns the endothelium of the vessel and causes scar formation within the vein However up to of patients experience recanalization or the restoration of blood flow through a previously treated vessel This often requires the patient to undergo a second or even third treatment to permanently occlude the vein Treatments can also require the implantation of up to coils which creates prohibitive device costs for treatment facilities and increased radiation exposure for the patient The proposed project outlines the continued development of a shape memory polymer SMP foam peripheral embolization device PED to treat complications associated with VI The PED will provide rapid complete occlusion of the refluxing veins with minimal risk of device dislocation vessel rupture and damage to surrounding tissues The realm of treatable veins with VI will also be extended by the material properties of the PED and the ability to be easily delivered to tortuous vessels Benchtop device verification studies will be performed to ensure the proposed device has adequate mechanical strength requires minimal force for advancement through the catheter and the SMP foam is securely attached to the PED to prevent thromboembolism The biocompatibility of the PED will also be extensively evaluated through ISO studies typically performed on this class of devices Finally the PED will be delivered to twelve preclinical animals and analyzed for ease of delivery and navigation device migration time to occlusion recanalization at and day follow up and local and system toxicity At the culmination of this work all studies necessary for submission to the FDA for k clearance will be completed PROJECT NARRATIVE Venous insufficiency VI causes more than hospitalizations every year in the United States accounting for approximately $ billion in annual healthcare expenses VI occurs when veins are weakened and bulge outward When this happens it can cause persistent pain that lasts more than months making it difficult to walk or even stand for prolonged periods of time The proposed technology addresses these issues by permanently blocking flow to the diseased veins This technology provides better long term healing a lower risk of repeat procedures and reduces the cost of current treatments by approximately
News Article | July 8, 2015
The round was led by Provenance Venture Partners. The company intends to use the funds to further develop its platform, expand its service offering and roll out sales efforts nationally. Led by Dr. Randall Porter, founder, The Medical Memory provides a medical video messaging platform that lets doctors record and securely share videos of patient visits. The app is available pre-installed on custom tablets but can also be downloaded to any mobile device already in use by a medical practice. Further, it integrates with typical doctor-patient interactions, with structured workflow modules for in-office exams, hospital rounds and patient discharge.
News Article | July 9, 2015
Phoenix, Arizona based startup The Medical Memory announced yesterday the closing of a $2.1M seed round. The Medical Memory is a cloud based platform with connected app that allows doctors to record patient visits. The goal of the service is to improve memory retention conveyed by doctors to patients, while ensuring that doctors can properly control the recording and follow any related regulatory or legal processes. At the start of a medical visit, the doctor starts the recording, can move the device around to film additional items, and can also include further instructions for the patient. The patient can then securely access the video later. “Patients forget 80 percent of what their doctors tell them, and as such, many are now using their smartphones to record visits, with or without the physician’s knowledge,” said Dr. Randall Porter, founder of The Medical Memory and a neurosurgeon at Barrow Neurosurgical Associates in Phoenix. “The Medical Memory is a better way for both patients and doctors to record medical visits. Our app’s recording workflow fits seamlessly within the normal doctor-patient interaction, and our secure website gives patients convenient access to their videos and makes it simple to share them with caregivers.” In addition to providing a secure platform for both the doctor and patient, by having a transparent and optional platform to record visits it reduces the possibility of incident. Just last month a patient discretely recorded a doctor visit for a colonoscopy, and was awarded $500,000 in damages after he found his anesthesiologist was insulting him. According to the Washington Post, “patients in most places have a right to record even without a doctor’s consent. Only 12 states — Maryland is among them, but Virginia is not (nor is the District) — require permission from all parties for audio recordings, including conversations with a doctor.” Through use of The Medical Memory, Porter states there are other benefits as well, “by recording an entire patient visit from start to finish, The Medical Memory can reduce readmission and malpractice risks, significant concerns for any practice in today’s regulatory and legal environments.” The seed round is led by California based Provenance Venture Partners, who previously invested in Chirpify and Jacked (acquired in 2010). Founded in 2008, The Medical Memory initially allowed doctors to record visits by mini-DVDs, SD cards, and now through their custom app and website.