SummatiX is a Melbourne based medical informatics startup that seeks to develop an open, scalable, aggregatable medical data monetization platform capable of integrating any connected external medical device.
While there are a number of companies focused on doing this for a single device or within the confines of a hospital or primary care facility, SummatiX is unique in that it is focused on connecting devices designed for use outside the hospital in the therapeutic, diagnostic, rehabilitation, and activity tracking areas leveraging its licensed technology and proprietary data monetization strategies.
SummatiX will act as a fee for service provider to its clients providing connectivity to its HIPAA compliant platform, software, APIs, and data management, so they can concentrate on their core competency of generating medical data with their devices. SummatiX will enable clients to commercialize their connected products faster, at a lower cost, gain access to new data monetization opportunities, and be part of a “sticky” eco-system with a high switching cost as Payers do not want 500 devices on 500 separate platforms; they want 1000+ devices on a single platform!
SummatiX has licensed technology from Canary Medical and received funding from BioScience Managers, a Melbourne based fund working in cooperation with the Australian Government, to commercialize its medical informatics platform ecosystem focused initially on the United States and Australian markets. SummatiX‘s development and business plan forecasts a commercial launch in Q1 2019 and has its first commercial client commitment in place.