Wellcome Trust Backs AirStrip Technologies

AirStrip Technologies has closed an equity transaction with the Wellcome Trust, a global charitable foundation dedicated to improving human and animal health. Financial terms of the arrangement were not disclosed.

PRESS RELEASE

AirStrip Technologies, Inc., the leader in mobility platform solutions delivering patient data to caregivers anytime, anywhere, has closed an equity transaction with the Wellcome Trust, a global charitable foundation dedicated to improving human and animal health. Financial terms of the arrangement were not disclosed.

The investment by the Wellcome Trust will be used primarily to develop the AirStrip platform with a focus on accessing and interrogating information housed in electronic health records. In June 2012, AirStrip announced that it is expanding its mobile health (mHealth) solution suite with a single mobile solution that provides both real-time access to live medical device data such as ECG waveforms, as well as all other current and historical patient information previously locked away in disparate records repositories.

The AirStrip software platform can deliver vital sign data generated from pre-existing bedside monitoring hospital equipment as well as transmit patient medical records and diagnostic test results to mobile devices, such as the iPad(R). This allows doctors to make efficient, virtual medical decision making, without the need to be physically at the patient’s bedside.

In the U.S., AirStrip’s technology has already achieved Food & Drug Administration (FDA) clearance, and enables hospitals in complying with Health Insurance Portability and Accountability Act (HIPAA) regulatory requirements covering patient confidentiality, data security and compliance. AirStrip solutions have also been CE marked for international availability. These regulatory achievements encourage AirStrip to continue to develop multiple solutions as well as expand their offerings into the growth areas of home patient monitoring and electronic medical records.

“The AirStrip platform offers the most clinically sophisticated suite of mobile healthcare solutions available today, and is focused on erasing the boundaries to more effective patient care,” AirStrip CEO Alan Portela noted. “We greatly appreciate this show of support from Wellcome Trust, which recognizes both the current impact and future promise of the AirStrip platform, particularly as AirStrip aggressively advances its plans to expand globally.”

About AirStrip Technologies, Inc.

Addressing the most pressing needs of a rapidly evolving global healthcare system, AirStrip develops mobile technology that drives enhanced clinician engagement, strengthened care coordination and improved clinical and financial performance. By unlocking, transforming and mobilizing live and historical patient information from existing monitoring devices and EHR systems to various mobile devices regardless of operating system, AirStrip helps transcend the geographic and technological barriers that delay informed clinician action. AirStrip’s enterprise-wide solution suite and its live and predictive analytics together create unprecedented opportunities to improve the health of individuals and populations. AirStrip is backed by investments from Sequoia Capital, Wellcome Trust, Qualcomm, Inc., and Hospital Corporation of America (HCA).
About the Wellcome Trust

The Wellcome Trust is a global charitable foundation dedicated to achieving extraordinary improvements in human and animal health. It supports the brightest minds in biomedical research and the medical humanities. The Trust’s breadth of support includes public engagement, education and the application of research to improve health. It is independent of both political and commercial interests.

(C) 2012. AirStrip Technologies. All rights reserved. Trademarks not belonging to AirStrip Technologies are the property of their respective companies. iPhone and iPad are registered trademarks of Apple Inc.

SOURCE: AirStrip Technologies, Inc.