Swift Medical Closes $11.6M Series A Round for Digital Wound Care
Digital wound care startup Swift Medical has announced the close of a $11.6 million Series A funding round led by Data Collective with participation from a number of Canadian investment firms. The company plans to use the funding to expand commercialization of their wound care software product.
“This growth funding enables us to expand our reach and bring Swift’s solution to every bedside in every hospital and care facility,” Carlo Perez, cofounder and CEO of Swift Medical, said in a statement.
The program applies medical analytics to data gathered using a regular smartphone to monitor wound recovery and share information with care providers, who are then able to adjust care directions as needed.
The technology is able to capture wound care information by waving the smartphone above the injured site in a “wand-like fashion.” It is also able to determine the depth of the [injury]. According to the website, the platform does not require anymore equipment than a smartphone.
The platform then immediately analyzes the wound by using proprietary machine vision algorithms. The information is then sent to a patient’s EMR or the Swift dashboard, which includes wound care data. It doesn’t require physical contact and reduces the risk of contamination, according to the company’s webpage.
Co-founder and CEO Carlos Perez believes that the program holds potential to help a significant number of patients due to the high number of patients in wound recovery. In addition, if the program is able to help reduce wound-related infections and hospital readmissions, the program could potentially improve healthcare outcomes and lower overall costs.
“There are more patients worldwide suffering from chronic wounds than from lung cancer, breast cancer, colon cancer, and leukemia combined,” Perez said in a statement. “By augmenting the abilities of clinicians and facility administrators to deliver the best possible wound care management, we’re helping them heal over 10,000 patients a month. And we’re just getting started.”.
Digital wound monitoring platforms have been the subject of recent research, including a study published in late January by the University of Wisconsin, Madison which found that digital would management program WoundCheck was an effective tool for monitoring surgical wound recovery for a diverse range of patients.