80% of in-hospital patients receive IV therapy, where medication and blood are directly infused into a vein using a tube. This is the most frequent invasive procedure used in European healthcare. Unfortunately, up to 36% of the tubes are accidentally ripped from the patient during use, known as IV dislodgement, with children and the elderly being the most affected patient groups.
“If we could find a way to reduce the consequences of these accidents, both patients, nurses, and society would benefit tremendously. As an example, the annual financial burden of accidental dislodgement of IV tubes for European and the USA healthcare is estimated at €28.3 billion, these are huge numbers” Rebecca Bejhed, CTO TADA Medical AB
A PARADIGM SHIFT
TADA Medical AB develops ReLink®, a patent-protected device addressing the massive global issue of IV dislodgement. During an accident, the device acts as a weak link and splits into two parts, thus preventing dislodgement and patient injury. A double valve system prevents spillage of blood and medication. The constitution of the device allows for rapid reinstatement of therapy after an accident thus reducing the burden of care at the bedside.
In competition with more than 4,000 applicants, TADA Medical AB managed to become one of only 36 companies receiving funding from the EIC Accelerator. With the funding from the EU program TADA Medical AB will have the necessary recourses to take the next important step in their development.
“With this grant, we will be able to finalize the development of ReLink®, reach CE certification, and initiate sales. This will strengthen our position as one of the most promising MedTech start-ups in Sweden. But most importantly, our product will reach the market and start creating impact. ReLink® keeps patients and nurses safe, this is what matters. We are on an amazing journey together with amazing people. Together we succeed!” Katarina Hedbeck, CEO TADA Medical AB
Read more: https://www.tadamedical.com
Or contact Katarina Hedbeck on firstname.lastname@example.org
ABOUT TADA MEDICAL
TADA Medical AB is a Swedish medical device company. The company was founded in the spring of 2016 with the purpose to improve healthcare. The founders of TADA Medical AB met during the program Clinical Innovation Fellowships, an EIT Health Flagship Initiative. This innovative concept matched the team members through a rigorous test process to create an ideal multidisciplinary team to design and develop need-based innovations for the healthcare sector. After the program, a concept for solving a huge global problem was in place, product development was initiated, and TADA Medical AB was founded.
ABOUT EIC ACCELERATOR
The EIC Accelerator (SME Instrument) is a public funding program that funds risk innovation in small businesses. It funds market-creating innovation in disruptive small businesses that have significant growth potential and global ambitions. Only the most innovative companies get selected. Until now, out of over 50,000 applicants, 4,500 companies have been funded. This shows how intense the competition is under the program and demonstrates the high quality of the proposals funded. 25% of the companies funded under the EIC Accelerator are in the 10% fastest growing companies in Europe according to Venture Radar. Companies receive up to € 2.5 million to bring their innovation to the market, free coaching, and support in commercialization – like facilitated access to overseas trade fairs.Press release_June 2020_EIC Accelerator