SAN DIEGO, CA (May 6, 2019) – Odin Technologies was announced as the winner of the diagnostics startup track at the Pitch Perfect Contest that took place during the MedCity INVEST Conference in Chicago on April 23-24. Invetech, a leader in healthcare product development, custom automation and contract manufacturing, sponsored the competition track.
Odin Technologies (Odin), a Chicago-based startup, has developed an intelligent wearable medical device that is able to detect and track tissue perfusion, enabling non-invasive diagnosing of acute compartment syndrome. The syndrome, which is a complication arising from an increase in muscle pressure typically caused by internal bleeding following trauma, is challenging to detect and if diagnosed too late, can cause patients to lose their limb or their life. The wearable medical device eliminates the need to subject patients to needle injections and evaluations, providing a multifactorial diagnostic tool that will accurately measure patients at risk of developing compartment syndrome over long periods of time.
Odin’s Co-Founder and CEO Steven Hansen, ATC, MSc delivered the winning pitch. Mr. Hansen said, “The current standard is a needle injection that monitors tissue pressure, whereas we use optics to non-invasively monitor blood flow. We revolutionized the paradigm for diagnosing compartment syndrome because we are no longer looking at compartment syndrome as a pressure related injury but as a perfusion related injury.”
Competition sponsor Invetech is providing in-kind support in the form of diagnostic product commercialization services to Odin. Invetech’s President Andres Knaack said, “Odin’s intelligent wearable is a fantastic example of the disruptive innovation startups can bring into the healthcare sector. In developing their device, Odin took the time to understand the pain points of their end-users – in this case both the patients and caregivers – and came up with a unique product that is going to transform the way compartment syndrome is diagnosed, thus ultimately reducing healthcare costs.”
Applied directly on a patient’s skin, the wearable medical device communicates wirelessly with a computing hub where the data is analyzed using an artificial intelligence engine, allowing for a precise measuring of symptoms continuously and in real-time. Mr. Hansen said, “Combining our optical tools with new-age wearable computers and machine learning, we are able to provide meaningful metrics on compartment syndrome as it develops; something that could not have been accomplished 10 years ago.”
Of the many potential applications for Odin’s device, the Department of Defense has expressed strong interest in utilizing the diagnostic device for prolonged field care. Combat injuries resulting in fasciotomies are common in the field, and the Department estimates that almost 85% of their total fasciotomies are unnecessary.
The wearable medical device is expected to be available in the market by mid-2020.
About Odin Technologies
Odin Technologies is a Chicago-based startup that is developing a non-invasive tool for diagnosing and monitoring compartment syndrome in trauma patients. odinhealthtech.com
Invetech has created breakthrough products and custom automation systems for more than 30 years. With experience drawn from more than 5,000 projects globally, Invetech partners with global leaders in industry to deliver product design and development, contract manufacturing and custom automation services. The company has experience in a broad range of market sectors including point of care diagnostics, laboratory diagnostics, life sciences and cell and advanced therapy automated production systems. invetechgroup.com