Xplore to invest Rs 200 crore in 3 years for developing solutions around CardiaSense

Patient monitoring solution provider Xplore Lifestyle on Tuesday said it plans to invest around Rs 200 crore in three years for developing remote monitoring solutions around medical grade smartwatch CardiacSense.Xplore Lifestyle has partnered with Israel-based CardiacSense to launch a smartwatch that can detect and read heart activity beat-by-beat.CardiacSense is a medical device in the form of a watch.

Patient monitoring solution provider Xplore Lifestyle on Tuesday said it plans to invest around Rs 200 crore in three years for developing remote monitoring solutions around medical grade smartwatch CardiacSense.

Xplore Lifestyle has partnered with Israel-based CardiacSense to launch a smartwatch that can detect and read heart activity beat-by-beat.

''CardiacSense is a medical device in the form of a watch. We are focussing to change the entire delivery of healthcare services through remote monitoring of patients. We plan to invest Rs 200 crore over a period of 3 years just around CardiacSense to build several solutions,'' Xplore Lifestyle founder and CEO Pankaj Balwani said.

He was speaking on the sidelines of unveiling of CardiacSense smartwatch which is priced at Rs 1 lakh apiece. The device will be available in India from September.

Xplore claims that CardiacSense is capable of differentiating between a normal heart rhythm from an irregular heart rhythm (arrhythmia), especially Atrial Fibrillation (AFib), which is responsible for approximately 70 per cent of strokes globally.

''We expect our revenue to be around Rs 1,000 crore from CardiacSense platform. We will be adding more services on CardiacSense, which our customers can use on the same watch without needing to buy a new one. They will be able to use it at least for a period of 5 year. General lifetime of a medical device is around 7 years,'' Balwani said.

The company is partnering doctors, hospitals and healthcare providers for sale of CardiacSense to people who require continuous monitoring.

Patients with chronic conditions such as high blood pressure (hypertension), Chronic Heart Failure (CHF), COPD and sleep apnea can also be monitored continuously through CardiaSense, Balwani said.

The smartwatch can help doctors remotely initiate an ECG test for patients from their clinic and see ECG results in real time making diagnosis possible remotely.

Balwani said that the US FDA has set a threshold of 2 per cent False Detection Rate (FDR) but CardiacSense has shown high accuracy rates with just 0.6 per cent FDR.

''CardiacSense has CE certification under European Union's Medical Device Regulation (MDR)... We are in advanced stages of getting US FDA approval too,'' Balwani said.

The company will provide CardiacSense as a service also from December where people can access it at a monthly fee of Rs 6,000-8,000.

''Finance option will also be available on our website when we will start selling CardiacSense in September,'' Balwani said.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)