Olive Diagnostics, a MedTech company transforming at-home urinalysis testing with a passive, continuous home monitoring system mounted on a toilet, has received a substantial investment from Texas Medical Technology, a leading manufacturer and distributor of medical supplies and equipment. Olive’s KG device is a hands-free, non-invasive, artificial intelligence (AI)-based device that provides remote 24/7 diagnostics by detecting urine’s molecular composition.
Olive Diagnostics has already gained backing from several high-profile investors such as eHealthVentures, Maccabi Foundation (the private investment arm of Israel’s premiere healthcare giant, Maccabi Healthcare Services.), Cleveland Clinic, Amgen, and the Israeli Innovation Authority.
Self-monitoring one’s health plays a crucial role in our ability to prevent disease and improve healthcare. With new technology and the digitization of healthcare, simple and swift home-based diagnostics can serve as a central vehicle for this, where regularly self-monitoring the user’s urine provides users with early disease detection for a plethora of potential issues, including UTI, kidney stones, heart failure, and dehydration.
The Olive Diagnostics team is excited that the Olive’s KG device initially hit European elder care homes and women’s health clinics at the beginning of 2022 with unprecedented potential for expansion throughout Aged-Care systems and individual homes around the world. Determination of the requirements for FDA approval in the US is planned to be completed soon.
Texas Medical Technology’s investment in Olive Diagnostics will support the company’s mission to help people and businesses sustain a safer, healthier lifestyle. Olive’s KG device, mounted on any toilet, serves as the first hands-free digital urinalysis tool in the world. The company’s cloud-based AI system calculates molecule concentrations in the user’s urine, utilizing proprietary algorithms to analyze and track collected data, alerting the user of any changes or anomalies.
The diagnostic tool combines the best in biochemical and spectroscopy research with the latest in biomedical science, AI, and data analytics. Clinical trials at Hadassah Ein Kerem in Jerusalem, run and analyzed by third-party Technostat, confirmed the Olive system’s ability to effectively detect protein in urine in over 900 samples, proving more effective than traditional urine sticks. The diagnostic tool will start going into use at four assisted living facilities in Europe this March.
“Providing people with practical insights into their own personal health data will be a huge leap for today’s peace of mind,” says Corey Katz, Co-Founder of Olive Diagnostics. “More importantly, by using simple prevention and detection measures such as the KG device, we are able to improve population health and begin exploring further opportunities such as predictive analytics with home-based diagnostics.”
The partnership between Texas Medical Technology and Olive Diagnostics is part of a wider commitment towards building MetaHealth, a virtual platform akin to the Metaverse, which will ultimately allow decision-makers to execute the needs of healthcare networks through an avatar. This Metaverse for health will become pivotal in the future to change, enhance, and possibly transform health care.
Texas Medical Technology was established to meet the soaring demand for personal protective equipment during the COVID-19 pandemic. The company now has a 144,000-square-foot factory in Houston, Texas that employs 550 workers from 53 countries, including refugees assisted by the YMCA of Greater Houston and the Catholic Charities of the Archdiocese of Galveston-Houston.
“We’ve been incredibly impressed with Olive’s capabilities to optimize home diagnostic tools at a time when we need it most,” says Omri Shafran, Founder & CEO of Texas Medical Technology. “Keeping people informed about their bodily functions on a continuous basis will become a central part of health systems in the future, and I’m confident Olive Diagnostics will help spearhead that push with new technologies constantly being discovered.”
About Texas Medical Technology
Texas Medical Technology, one of the fastest-growing companies in the U.S., has taken the supply challenges and placed them on its shoulders by shifting attention to COVID-related PPE. Providing an array of advanced tech and non-tech equipment to empower administrators to monitor potential medical crises and protect employees. For more information, please visit https://texasmedicaltechnology.com/
About Olive Diagnostics
Jerusalem-based Olive Diagnostics was founded in 2019 by CEO Guy Goldman and Corey Katz, a medical practitioner focused on wellness, based in California. The company has developed a noninvasive passive urinalysis sensor that provides real-time health alerts, early detection, and information on disease progression. Using optics for data collection, the sensor is mounted inside the toilet and does not require further intervention. The sensor detects the composition of the urine and sends the data to the cloud. AI algorithms then process the sample findings along with the user’s historical data in order to detect trends. The findings are sent back to the user via a mobile application, and the biomarker data is also sent directly to the electronic health record (EHR) system for physician and provider accessibility.
For more information, visit https://www.olive.earth/
Source: Businesswire Feb 1, 2022
Guy Goldman, CEO, Olive Diagnostics https://www.olive.earth/contact-us
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