Medical device entrepreneur develops automated venous access device

https://www.youtube.com/watch?v=craSfY0wuFI

Update below If the CEO behind medical device developer VascuLogic is right, the time-consuming practice of hunting around patients’ arms for the right vein in which to plunge needles for blood tests and drug delivery will be transformed into a much more efficient process. Tim Maguire has developed an innovative medical device that combines an imaging component to identify good veins with automated venous access.

At the Angel Venture Fair in Philadelphia, Maguire talked about how the Piscataway, New Jersey-based company got its start and how it thinks VenousPro can shake up the healthcare industry in its own way. Maguire founded the company in 2010 after he noticed that in pediatric grand rounds something as simple as a blood draw was proving problematic, particularly with pediatric oncology patients. Not only are their veins small, but repeated jabs from IV medication can result in damaged veins. But as he looked further, he found other potential applications among chronically ill and geriatric adult patient populations. The company is pursuing what Maguire estimates to be a $2 billion market opportunity.

But here’s one problem with using a machine for such a tactile procedure — how do you figure out the right speed and pressure without inflicting more pain than the procedure requires? Maguire had to make himself a guinea pig to figure that out. By recording phlebotomists pricking his vein, he was able to determine the least painful balance between pressure and speed.

Update His company has just begun testing the device in people and has a goal of 40 patients. It’s seeking to raise $3 million to help support the trial and bring it to market by 2016.

Maguire thinks national diagnostic labs like, say, Quest Diagnostic, would see an advantage to adopting this device.

The company is leasing the device at close to cost, so the majority of revenue comes from three sources: an ultrasound gel pack, a sterile sleeve to avoid contamination between patients and a sterile clip to automate needle handling.

Its target market includes hospitals and healthcare facilities with more than 200 beds, pediatric practices and large diagnostic service providers like Quest.

Several companies have developed imaging devices to help identify good veins such as AccuVein, Christie Medical’s VeinViewer, and Evena Medical but the technology can take time to learn.

VenousPro is a cool approach to solving two challenges at once but it will be interesting to see whether hospitals warm up to making such a tactile process automated, particularly where children are concerned.