HOUSTON– Texas Medical Technology, a leading manufacturer and distributor of medical supplies and equipment, acquired 5 percent of OmnySense Ltd., an Israeli medtech startup that developed a cloud-based health information system for patients to self track their health at home. As a result of the investment, the two will collaborate further to develop remote solutions for reducing hospital readmissions. Texas Medical Technology also takes a consultancy position on the OmnySense board.
Hospital readmissions can indicate a breakdown in caregiving, whether in the act of transferring a patient from one care environment to another, or between facility and home. And in the U.S., hospitals bear much of the treatment cost for those readmitted within thirty days of discharge, which stands at $26 billion annually, according to CMS. For the medical sector to operate more efficiently and minimize expenditure, an emphasis needs to be placed on improving the rate of readmission to the most costly care possible—inpatient hospital care.
Through Texas Medical Technology’s investment, OmnySense will better provide U.S hospitals a service to automatically track the health of patients post-discharge, in order to minimize the risk of deterioration and eventual re-admission. The system will enable a hospital physician, or nurse, to receive alerts regarding deterioration of patients remotely, initiating direct contact with the patient to address health issues as they arise. The solution will be part of Texas Medical’s MetaHealth, a virtual platform currently in development akin to the Metaverse, which will ultimately enable vital signs and other medical data from these technology platforms to be easily accessed and monitored by hospital staff. 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 and is currently extending its offerings to include digital health devices and services. 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. Keeping in line with their mission to aid disadvantaged communities across the country, the company also recently announced joint ventures with The Modoc Nation of Oklahoma.
“We believe OmnySense’s user-friendly technology is the perfect tool to enable our hospital partners to track their discharged patients,” says Omri Shafran, Founder & CEO of Texas Medical Technology. “It will help keep patients healthy and minimize the readmission costs borne by the hospital.”
“We are excited to have Texas Medical Technology join us as a major investor,” says Yossi Aldar, CEO of OmnySense. “And we look forward to jointly pursuing the readmission-minimization market in collaboration with them.”
