AACHEN, Germany--(BUSINESS WIRE)--Hemovent GmbH, an emerging medical device company, announced today that a leading German healthcare-consulting authority, assets (“aktiva”) Consulting Healthcare GmbH, is reporting that the number of applications of ECMO has tripled over the past five years. The evaluation is based on the reported numbers of ECMO-related OPS codes in Germany that were recently released by the German Institute of Medical Documentation and Information (“DIMDI”). The number of ECMO procedures in Germany rose to 5,949 in 2014, the most recent year of available data.
“This market trend is most certainly advantageous to patients as well as Hemovent, which is developing the world’s smallest and first self-contained and fully portable Extra Corporeal Membrane Oxygenation (ECMO) system that supports or replaces heart-and-lung function in the event of cardiac and respiratory failure,” said Prof. Dr. Peter Borges, founder and CEO of assets Consulting Healthcare, whose clients include banks, hospitals, rehabilitation clinics, nursing homes and government institutions, among others.
Click here to see an interview (3:17) with Prof. Dr. Peter Borges.
“Based on healthcare provider data we performed an analysis of the numbers and the allocation of ECMO procedures to certain DRGs and ICD groups by using the InEK Report Browser. We found that ECMO markets are growing rapidly, specifically in respiratory applications, in spite of cumbersome and outdated technology. Now there is the new Hemovent ECMO system that weighs less than a pair of shoes, functions like a natural heart, and does not require a battery or software. Finally, ECMO can be put to use easily: a transportable and inexpensive life-saving device for an aging patient population,” said Prof. Dr. Borges.
“Sophisticated healthcare experts such as Prof. Dr. Borges understand that Hemovent’s portable technology is well-positioned to disrupt a billion-dollar market because standard ECMO therapy is difficult to use, expensive to purchase and, most importantly, not readily transportable,” said Christof Lenz, a co-founder and CEO of Hemovent.
“Although ECMO has proven to be an effective treatment for acute respiratory and circulatory failure, the expanded use of ECMO still suffers from the drawbacks of outdated ECMO technology,” added Mr. Lenz. “We intend to change this situation: not only for cardiac-related indications but also for respiratory failure including CO2 removal. We still believe that ECMO belongs in the hands of experienced clinical experts, but we can improve their mobility significantly and support them in their patient focus rather than being distracted by device handling.”
Extra Corporeal Membrane Oxygenation (“ECMO”) for respiratory failure, which as a general term also includes Extra Corporeal Life Support (ECLS) for cardiac failure, is a technique of providing both cardiac and respiratory support to persons whose heart and/or lungs are unable to provide an adequate amount of circulation and gas exchange to sustain life. ECMO and ECLS functions by removing blood from a patient’s body and artificially removing the carbon dioxide while oxygenating the red blood cells.
Previous News Release
Feb. 10, 2016—Hemovent Raises $6 Million in Series A Funding
In February, Hemovent announced that it had closed a $6 million Series A investment. Led by MIG Verwaltungs AG (Munich, Germany), co-investors in the Series A Hemovent round included WCTI Partners (Portland, Ore., USA); Seed Fond II (Aachen, Germany); KfW Bank (Bonn, Germany); NRW.BANK.Venture Fonds (Dusseldorf, Germany); and, PB Beteiligungs-und Vermoegensverwaltungs-GmbH.
Hemovent GmbH is an emerging medical device company that has developed disruptive technology: the world’s smallest and first self-contained and fully portable Extra Corporeal Membrane Oxygenation (ECMO) system that supports or replaces heart and lung function in the event of cardiac and respiratory failure.
CAUTION: The Hemovent ECMO System is not approved for sale.