Michigan State University Spinoff Receives Series A Funding
Posted on September 5, 2012 @ 08:30 am
Retia Medial, a spinoff company from Michigan State University (MSU) in East Lansing, Mich., has received $7 million in private funding that it will use to develop and market a blood flow monitoring device for care of high-risk patients.
The Series A funding for Retia comes from a group of investors led by the Pritzker/Vlock family office, whose other holdings include Global Hyatt Corporation, TransUnion LLC, Triton Container International Corporation and other properties.
The monitor is designed to provide an alternative to the more invasive pulmonary artery catheter, currently considered the most reliable method for tracking cardiac output or total blood flow. Because organs can die within minutes without oxygen, cardiac output is considered a key metric for monitoring high-risk patients.
“The literature is rife with case studies showing how current, less-invasive technologies fail during when significant changes in cardiac output or blood pressure occur,” said Mukkamala. “This is exactly when accurate monitoring is of greatest need. We performed competitive testing during similar hemodynamically unstable conditions and showed dramatic improvements in accuracy with Retia’s monitor, which can lead to better clinical decision making.”
At least 15 million surgical patients and 3 million intensive care patients worldwide could benefit from such accurate, less-invasive cardiac output monitoring, according to the company.
Retia Medical’s patient monitoring software and hardware technology has broad applications, including the management of the critically ill, heart failure, and hypertension in the hospital or at home.
Please visit our sister sites:
The material on this site may not be reproduced, distributed, transmitted, or otherwise used, except with the prior written permission of Rodman Media.