Vigil Monitoring won the Callaghan Innovation Pre-commercialisation Company of the Year award at the New Zealand High Tech Awards 2014.
The Callaghan Innovation award recognises the potential of a high-tech company that is a new venture with a clearly identified competitive advantage.
Dr Mary Quin presents Alan Brannigan of Vigil Monitoring with the Callaghan Innovation
Vigil Monitoring, the brainchild of inventor Sir Ray Avery, is set to commercialise an intelligent medical alarm bracelet. The bracelet will monitor vital statistics, such as heart rate and temperature, and upload the data to an online storage system in real time. It will raise an alarm automatically if an adverse event, such as a fall or change in heart rate, is detected.
Smart technologies like this will enable more effective methods of medical monitoring.
“Businesses like these are critical to our economy,” says Dr Mary Quin, CEO of Callaghan Innovation.
“We all know that our future economic prosperity relies on growing more and bigger high-tech businesses that produce high-value exports. We know just how important these businesses are, which is why we sponsor this award.”
Alan Brannigan, CEO of Vigil Monitoring, says that winning the award was an honour for his team and recognition of the phenomenal effort they have put in, but there is still a lot of work to be done before they go to market.
“As the category suggests, we are not there yet. To make sure we deliver the best product in the world for monitoring the elderly and the unwell, we need all the help we can get,” says Brannigan. He appealed to people caring for elderly patients to participate in a survey that will contribute to shaping both the final product design and the roadmap for commercialisation.
Did you know?
According to a Juniper Research report commissioned by Vigil, the global remote patient monitoring market is estimated to be worth more than US$20 billion by 2016. The report also stated that health cost savings attributable to remote monitoring will account for US$5 billion in the US, US$795 million in Western Europe and US$102 million in the Far East & China region in 2014.
Dramatic growth in the market for wearable wireless devices is expected, exceeding 100 million units by 2016.
According to worldwide technology research and advisory company TechNavio, remote patient monitoring is the main reason behind the estimated 24 per cent growth in the global mobile health application market.
Updated: 4 September 2015