Positive feedback from end-users, such as Traveling Nurses Associations and Home Care Organizations that this system will directly save time and money by eliminating the transportation of samples to the lab, and will give them more time in front of the patient.
iAssay® is as a potential new revenue stream for these Home Care Organizations that have traditionally just drawn and transported samples to the lab.
iAssay® has built the core team, business & scientific advisory boards, has granted and filed patent applications internationally, developed strategic partners, validated POC tests in 5 different market segments. It has raised capital on a Convertible Note, entered into a pilot programs, and performed assay validation on the device with KOLs.
Demographics is a major contributing factor in the trend towards greater demand from home healthcare devices and services. According to the World Health Organization, the number of people who are 65 years and older is expected to increase to 2 billion by 2050 worldwide (from 605 million in 2000).
Competition
| Feature | iAssay | Abbott iSTAT | Alere Epoc |
|---|---|---|---|
| Market Segment: Physician | |||
| Market Segment: Home Health | |||
| Multi-Source Test Cartridges | |||
| Number of Compatible Test Cartridges | 100+ | 18 | 2 |
| Simple to Operate | |||
| Wireless 3G/4G/NF/Wi-Fi Compatible | |||
| Bluetooth Vital Sign Sensor Compatible | |||
| Transparently Upgradable via Automatic Software Download | |||
| Automatically populates Eletronic Health Records | |||
| Facilitates Billing / Payment | |||
| Price | Reagent Rental Program | $6-14K | $7-12K |
The iAssay® business model is a consolidation play. This is a great opportunity to replace many costly devices with one device – iAssay®, affording our Content Partners, the chance to put all of their current tests onto our device. End users appreciate the Cloud connection, which also affords the ability to develop market data for our Content Partners.