MedWatch Technologies, Inc. Company Profile

Background

MedWatch Technologies, Inc., founded in January 2022, is a medical device and Software as a Service (SaaS) company dedicated to transforming the lives of individuals with diabetes and pre-diabetes. The company's mission is to develop non-invasive, pain-free, and affordable blood glucose monitoring solutions, empowering users to manage their health proactively. By integrating advanced technology with user-centric design, MedWatch aims to revolutionize glucose monitoring and health management.

Key Strategic Focus

MedWatch's strategic focus centers on the development of a non-invasive Continuous Glucose Monitoring (CGM) system coupled with a comprehensive health management platform. This initiative targets the substantial U.S. diabetes market, valued at $327 billion annually. The company's core objectives include:

Creating a user-friendly, pain-free glucose monitoring device.

Providing real-time data to facilitate immediate lifestyle adjustments.

Ensuring affordability to enhance accessibility for a broader population.

By addressing these objectives, MedWatch seeks to improve patient outcomes and reduce healthcare costs associated with diabetes management.

Financials and Funding

In March 2022, MedWatch entered into a licensing agreement with Health Gauge Inc., a subsidiary of AI/ML Innovations Inc. The agreement includes:

An annual license fee of $120,000.

A 2% royalty on gross sales of products utilizing Health Gauge's patented technology and proprietary AI-powered software.

A $2 million early termination fee, should MedWatch choose to terminate the agreement prematurely.

This strategic partnership provides MedWatch with access to advanced health management technology, supporting the development and commercialization of its non-invasive CGM system.

Pipeline Development

MedWatch is in the advanced stages of developing its non-invasive CGM device and accompanying health management platform. The company anticipates obtaining FDA clearance by the end of 2024. Key milestones include:

Completion of prototype development.

Initiation of clinical trials to validate device efficacy and safety.

Submission of regulatory documentation to the FDA.

These steps are crucial for bringing the product to market and addressing the needs of individuals managing diabetes.

Technological Platform and Innovation

MedWatch's innovation is anchored in its non-invasive CGM technology, which leverages Health Gauge's patented health management system. This system combines wearable health monitors with sophisticated artificial intelligence software and proprietary cloud computing solutions. Key technological components include:

Proprietary Technologies: Utilization of Health Gauge's patented biometric sensor design and AI-powered software for accurate glucose monitoring.

Scientific Methods: Integration of machine learning algorithms to analyze health data, providing personalized insights and recommendations.

This technological foundation positions MedWatch to offer a unique, user-friendly solution in the diabetes management market.

Leadership Team

MedWatch's leadership comprises seasoned professionals with diverse expertise:

Mike Moore, Founder and Chairman, Chief Strategy Officer: A veteran entrepreneur with experience across multiple industries, including software, manufacturing, and medical devices. Mike has also contributed to technology development projects for NASA and served over 30 years in the U.S. Naval Reserves.

Sam Zaidspiner, Chief Executive Officer: With a 35-year career in medical device launches, Sam successfully developed and scaled operations for a Class 2 medical device now present in 3,000 hospitals with over 3 million units sold.

Bruce Matichuk, MSc, MBA, PhD Candidate, Chief Technology Officer: An expert in artificial intelligence and machine learning, Bruce has developed intelligent integration systems and holds several patents in AI applications. He is completing a PhD in AI, focusing on intelligent agents and machine learning.

Virender Ahluwalia, Chief Financial Officer: A strategic executive with over 15 years of experience in finance and operations across various organizations, including startups and Fortune 500 companies. Virender specializes in establishing and optimizing organizational infrastructure and has successfully raised significant capital.

Mark Cullivan, MBE, VP Finance: With over 25 years of corporate experience, Mark has served as CFO for public and private companies, managed successful acquisitions, and raised over $150 million for small-cap public companies. He holds a master's degree in business economics from the University of California at Santa Barbara.

Dr. Kevin Kapov, DO, Capt. USN (Retired), Chief Medical Officer - USA: Dr. Kapov has extensive experience in clinical innovation and primary care management, having held senior positions at Southwest Medical and Optumcare. He retired from the U.S. Navy with over 20 years of service as a Medical Corps Officer and Flight Surgeon.

Dr. Jared P. Jones, PhD, Chief Research Officer: A biochemist with extensive diabetes research experience, Dr. Jones has served as Director of Research at UnitedHealth Group (Optum Labs) and co-authored 16 medical research papers. He earned his PhD in Biochemistry from East Carolina University, School of Medicine.

Dr. Geraldine Cunniffe-Conlon, MD, MSc, MBA, Chief Medical Officer – International: With over 20 years of international experience as an Ophthalmic and Oculofacial Plastic Surgeon, Dr. Cunniffe-Conlon has authored 14 papers for leading medical journals and holds multiple academic and industry qualifications, including a Bachelor of Medicine from the National University of Ireland, Galway, an MSc, and an MBA.

Andres Tovar, VP, Product Development & Manufacturing: With over 20 years of experience in product development, operations, and manufacturing, Andres has led teams in Canada and managed manufacturing operations in Mexico and the U.S. He holds a BS in Mechanical Engineering from Florida Atlantic University and is set to receive his MBA from Indiana University in spring 2024.

Kyle Treude, Chief Commercial Officer: With over 25 years of experience in commercial, market access, and sales leadership, primarily in diabetes technology, Kyle has held key roles at Medtronic MiniMed and Dexcom, demonstrating strong leadership and strategic business planning skills.

Leadership Changes

As of the latest available information, there have been no recent significant changes or appointments within MedWatch's leadership team.

Competitor Profile

Market Insights and Dynamics

The U.S. diabetes market is substantial, with medical costs related to diabetes reaching $327 billion annually. Approximately 34 million Americans have diabetes, and an additional 88 million are pre-diabetic. This underscores a significant demand for innovative, user-friendly glucose monitoring solutions.

Competitor Analysis

MedWatch operates in a competitive landscape with several key players:

Dexcom: A leader in CGM systems, offering devices that provide real-time glucose readings to users.

Abbott: Manufacturer of the FreeStyle Libre system, a popular CGM device known for its affordability and ease of use.

Medtronic: Offers integrated diabetes management solutions, including insulin pumps and CGM systems.

These competitors have established market presence and technological advancements, posing challenges for new entrants like MedWatch.

Strategic Collaborations and Partnerships

MedWatch's licensing agreement with Health Gauge Inc. is a pivotal collaboration, granting access to patented health management technology and AI-powered software. This partnership enhances MedWatch's technological capabilities and accelerates product development.