jpbrody, what you pulled up on the HP/i-STAT alliance is a good example of why HP would be a good partner for IGEN in POC.
HP is very serious about POC and seem to be developing the framework for the successful use of POC in the hospital. Of particular interest is that among other things, HP bought 60 million worth of i-STAT stock. Maybe i-stat needed the money (by choosing an equity investment). But this gives some credit to the rumor of a 100 million deal with Igen, HP is willing to invest a lot in this area.
The Igen POC and i-stat POC would be complementary,, and what a great combination they would be. These tests in no way overlap each other.
I particularly like what HP is doing to transfer the info to a useable form. I got this from the URL you posted. This is worth reading very closely. A lot of this stuff about i-stat applies conceptually to Igen.
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Contacts
Editorial: HP
Joanne Calve (508) 659-2606
Editorial and Investor: i-STAT
William P. Moffitt (609) 243-9300
FOR IMMEDIATE RELEASE
HP invests $61 Million for Minority Stake in i-STAT Corporation
Companies form Strategic Technology and Marketing Alliance
PALO ALTO, CA, PRINCETON, NJ, June 23, 1995 - Hewlett-Packard Company
(NYSE: HWP) and i-STAT Corporation (NASDAQ:STAT) today announced a
strategic alliance to expand the development and distribution of
i-STAT's biosensor technology for worldwide markets.
Under the agreement, HP will make a 14 percent equity investment
worth $61 million in Princeton, NJ-based i-STAT and acquire a seat
on i-STAT's board of directors. i-STAT is the innovator and market
leader in point-of-care blood analysis with its portable hand-held
blood analyzer that reduces a roomful of testing equipment to a
single cartridge no bigger than a matchbook and performs highly
accurate tests 20 times faster than traditional hospital-based stat
laboratories. HP is a worldwide leader in healthcare information
systems, electronic patient-monitoring equipment and ultrasound
imaging systems.
"The acceptance our systems now receive in hospitals which directly
experience the benefits of their timeliness and accuracy will clearly
expand as HP incorporates this capability with its patient-monitoring
systems," said William P. Moffitt, the Chief Executive Officer of
i-STAT. "The expanded market created by this technology-integration
alliance will allow us to accelerate our worldwide reach and moves
i-STAT one step closer to our goal of building a global medical
technology company."
To perform a test, the i-STAT System uses a tiny biosensor cartridge
and a hand-held, battery-operated analyzer. Each microfabricated
cartridge houses a suite of advanced thin-film biosensors that need
just two drops of blood to generate accurate readings for a wide range
of commonly ordered blood tests. The small blood sample is especially
advantageous in neonatal testing.
Experience at hundreds of hospitals has demonstrated that the i-STAT
System is a cost-effective alternative to conventional stat laboratories
and can result in improved patient care due to its superior
performance and immediate analysis of blood components.
The market for blood-chemistry diagnostics which i-STAT estimates to
be approximately $7 billion continues to grow. Point-of-Care testing is
a rapidly expanding segment of this market, growing at about 50%
annually, according to i-STAT.
i-STAT Corporation develops, manufactures and markets medical
diagnostic products for blood analysis that provide health care
professionals critical diagnostic information accurately and immediately
at the point of patient care. Through the use of advanced semiconductor
manufacturing technology, established principles of electrochemistry
and state-of-the-art computer electronics and software, i-STAT
developed the world's first hand-held automated blood analyzer.
In the first phase of the alliance, HP will introduce and market
i-STAT's miniaturized blood testing system across Europe, Africa and
the Middle East. HP and i-STAT subsequently will collaborate on
integrating applications of biosensor technology for both US and
worldwide customers. James A. Cyrier, general manager of HP's Patient
Monitoring Division and Moffitt believe that long-term, the integration
of advanced diagnostic biosensor technology with world-class patient
monitoring will trigger a fundamental shift in patient care. "By
providing critical blood chemistries, gasses and other essential
measurements at the patient's bedside, we can speed the diagnosis and
treatment of critically ill patients. More rapid confident
decision-making should lead to shorter lengths of stay and lower
costs," said Cyrier.
The two companies expect to integrate the capabilities of the i-STAT
System into HP's OmniCare patient-monitoring system, which is installed
at more than 70,000 bedsides around the world. Access to blood-chemistry
test results through patient monitors is expected to significantly enhance
the productivity of caregivers, giving them critical information where
and when they need it most.
"This is a major step in our strategy of integrating medical technologies
with computer and communications technology," said Cyrier.
Future applications could include an interface with HP's new PalmVue
system, a wireless communications systems that sends bedside patient data
directly to physicians carrying an HP 200LX palmtop computer.
Hewlett-Packard Company is a leading global manufacturer of computing,
communications and measurement products and services recognized for
excellence, quality and support. HP has 98,200 employees and had sales
of $25 billion in its 1994 fiscal year. |
