A Minnesota startup that distributes medical devices and develops healthcare inventory management solutions could raise up to half a million dollars for a beta launch in January.
CorCardia Group Inc., based in Woodbury, Minnesota, will negotiate supply contracts and also manage supply chain inventory for medical device companies and hospitals, specifically catheterization laboratories.
“There are lots of associated costs that don’t add value to either the physicians or the patients,” said CorCardia CEO Ken Morris, a former human resources vice president at Boston Scientific. “What we’re looking to do is wring those out.”
With the Rise of AI, What IP Disputes in Healthcare Are Likely to Emerge?
Munck Wilson Mandala Partner Greg Howison shared his perspective on some of the legal ramifications around AI, IP, connected devices and the data they generate, in response to emailed questions.
Morris said the company is also working with the Kingdom of Bahrain to implement its model there with the possibility of creating a GPO for cardiology services across the Persian Gulf, where countries rely heavily on imported medical supplies.
“We are looking to redefine the entire healthcare supply chain model,” he said. “We’re developing a cloud-based inventory management system that will allow hospitals for the first time to have a real true vision into the state of their inventory and their cath labs.”
The next step is lining up clients and preparing for a launch at the start of the new year.
The company, which will celebrate its first full year of existence in December, disclosed its fundraising in a recent SEC filing.
