LADERA RANCH, Calif.--(BUSINESS WIRE)--TAGNOS™, a healthcare software company whose innovative technology tracks patients and equipment in hospitals, has been selected as the U.S. finalist for the Wales International Technium Challenge, a global business planning competition.
Operated by Technium, a network of business incubators, and International Business Wales, the Technium Challenge will select one winner among finalists from multiple countries. The winner is eligible for one year’s free office space within a Technium incubator in Wales, and will also receive strategic counsel on financing, business planning and technical issues.
TAGNOS will compete against companies from Australia, New Zealand, China, India, Japan, Korea, South Africa and France next week in Wales. This week-long “Learning Journey” will include one-on-one sessions with U.K. legal and business experts for detailed briefings on the European markets and guidance on U.K. market entry business planning. From there, TAGNOS will present its business plan before the Technium judging panel, which will determine one overall winner.
“TAGNOS has developed technology that addresses very real needs facing hospitals around the world—helping hospitals cut costs and improve revenue,” said Geraint Jones, Chief Executive, Americas, International Business Wales. “The University of Cardiff and the University of Wales, Swansea are both involved in cutting edge medical research, offering an academic infrastructure that nurtures companies such as TAGNOS.”
Neeraj S. Bhavani, founder, president and CEO of TAGNOS, said that he wants to locate an operation in Wales because the U.K. has a reputation of being an early adopter of new healthcare technology. He plans to pilot the technology with a hospital in Wales or elsewhere in the U.K., and he is interested in speaking with investors.
The TAGNOS system consists of electronic tags that are attached to a patient’s wrist and feed information to tracking devices, middleware, a database, and application software. As a patient moves through a hospital, the system feeds information into a computer so the medical team knows exactly how long the patient has been in the hospital and where he or she is the treatment cycle.
White Memorial Hospital in East Los Angeles has increased use of its main procedure room by 20% in four months by using the TAGNOS products, Mr. Bhavani said. “That is 20% more revenue that the hospital can receive from its procedure room, paying for our product in less than six months.”
TAGNOS was selected by a panel of judges including Sony Corporation Chairman and CEO Howard Stringer, Gordon Innes, Director of U.K. Trade & Investment USA, and Geraint Jones, Chief Executive, Americas, International Business Wales.
Technium is a network of innovation centers in Wales/U.K. supporting the growth of technology companies. Technium offers the optimum environment to enable knowledge-based start-up and spin-out companies to realise their potential. Technium includes a network of state-of-the-art facilities across Wales served by the latest information technology and fibre optic bandwidth capabilities. Inside Technium, companies are supported by a team of business and technical support staff and have access to specialist laboratory facilities and communal networking areas. Strong partnerships forged between Technium and local Centres of Research Excellence provide specialist academic support for research & development projects. For more information, visit www.technium.co.uk.
About International Business Wales
International Business Wales is the economic development arm of the Welsh Assembly Government with the responsibility of helping international corporations locate operations in Wales, and with promoting international trade by Welsh businesses. IBW can assist businesses in finding suitable properties in Wales for their operations, help them in finding employees and in obtaining financial assistance from the Welsh government, when appropriate. For more information, visit www.ibwales.com.
TAGNOS is an enterprise-ready intelligent location-based service for hospitals. Our list of applications include Patient Flow, Patient Free Ranging, Patient Wandering, Patient Falls, Room Turnover, Staff Optimization and Asset tracking. Using tracking and hospital data - the "who-what-when-why-where and how" of hospital operations -Tagnos' Intelligent Associations and Analytics Engine provides vital information to improve caregiver workflows. The patent pending Tagnos enterprise software system allows healthcare managers to improve the overall efficiency and safety of basic healthcare processes. TAGNOS offers better patient care and facility throughput through real-time, fully-integrated clinical process automation and analytics. TAGNOS provides significant improvements in efficiency and communication easily interfacing with PDAs, laptops, desktops and tablet PCs. For more information, visit www.tagnos.com.