ImpediMed Limited announced that it has entered into a three-year joint development agreement with Mayo Clinic to advance new solutions for its fluid status and body composition monitoring technology in additional disease indications.
Using bioimpedance spectroscopy (BIS), ImpediMed's proprietary technology sends 256 unique frequencies through the body to assess both intra- and extracellular fluid. By detecting small amounts of fluid changes, it can help health care providers better detect and manage chronic disease in patients.
"There are multiple clinical areas where fluid management is critical," said Rick Carreon, Managing Director and CEO of ImpediMed. "We welcome the opportunity to work with Mayo Clinic, which is known globally as a leader in technology-driven healthcare improvements. Our goal is to uncover new solutions to increase the quality of life for patients. In order to achieve this, we must develop solutions that are both clinically relevant and cost efficient."
Relevant to any market where fluid burden and body composition are important, there is a wide range of applications for BIS technology, potentially including cardiology and nephrology. Under the agreement, Mayo Clinic and ImpediMed will jointly develop new product solutions to address the needs of patients with chronic diseases while also improving the quality, outcomes and costs of patient care.
"We are pleased to continue to build our relationship with ImpediMed," said Andy Danielsen, Vice Chair, Mayo Clinic Ventures. "By working together we hope to continue to improve care and reduce costs, across additional episodes of care."
The joint development agreement builds on ImpediMed's strong relationship with Mayo Clinic. In May 2016, the organizations entered a five-year strategic agreement for clinical research, and since 2015, Mayo Clinic hospital in Florida has been participating in the randomized controlled study analyzing the BIS technology's effectiveness in the early identification of lymphedema.
Source : finance.yahoo.com