DERMAFLOW SIGNS JOINT VENTURE AGREEMENT
DERMAFLOW SIGNS JOINT VENTURE AGREEMENT IN INDIA FOR THE EARLY DETECTION AND MONITORING OF PERIPHERAL ARTERY DISEASE
Moorestown NJ, 7-Mrch 2022: DermaFlow – a US based healthcare technology company - has signed a Joint Venture agreement with iiV Health Solutions of Mumbai, India, to commercialize the company’s flagship product DermaVasc™, a non-invasive point of care/ Self testing device for the measurement of capillary blood flow in the lower limbs. The joint venture company, iiVH DermaFlow Health Solutions Private Ltd., will focus its efforts in India and surrounding countries, including the Gulf States.
DermaVasc features the DermaFlow proprietary technology, Perichek™, combined with a blood flow stimulating device. The combination has been shown to detect early changes in peripheral capillary blood flow in the lower limbs – a feature of peripheral artery disease – even before the onset of symptoms.
According to the World Health Authority, India is the diabetic capital of the world, with over 70 million cases of diabetes – a key risk factor for peripheral artery disease - and approximately 50 million cases of the disease itself. This is more than 4 times the number in the US, and a key reason to focus on India.
Peripheral artery disease is typically characterised by leg pain – often severe – upon exercise, usually affecting the over 50’s, and those with other known risk factors such as diabetes, hypertension, high cholesterol, obesity and smoking. Treatment includes diet, medication, and surgery – in extreme cases limb amputation. The possibility of slowing progression of the condition or even in some cases reversing it, increases the earlier it is diagnosed. Early detection would be of great benefit to the patient, especially important in India, where 74% of patients are asymptomatic.
In addition to early diagnosis in the physician clinic or practice, DermaVasc will enable the patient to monitor their disease at home, and to be able – with the assistance of their physician – to better tailor their treatment.
Self- monitoring is a feature of the digital revolution enabling the individual to take a more active role in the management of their health status. As better tools to measure and track health-related information become available, more and more people will take advantage of it. These connected technologies for home use have given rise to a new market segment: “health self-monitoring1”, for which DermaVasc is ideally suited.
The JV company will be responsible for the manufacture of the product in India to the highest international standards. In partnership with iiV Healthcare, the joint venture company will market DermaVasc to over 50,000 clinics and hospitals throughout India, in addition to facilities in the surrounding countries.
Dr Irene Jaffe, CEO DermaFlow: DermaFlow is delighted to collaborate with iiV Health Solutions on the introduction of DermaVasc onto the Indian market, through our joint venture iivH Dermaflow Health Solutions Pvt Ltd. We are confident that with the expertise and experience of iiVH, the venture will successfully develop and manufacture a product ideally suited to the needs of the Indian population in tackling the high incidence of peripheral artery disease. Early diagnosis is the key to improving treatment outcomes, and the ability of the patient to monitor their clinical situation will enhance treatment effectiveness.
Pooja Arambhan, CEO iiV Health Solutions: “Collaboration with DermaFlow on the DermaVasc project gives iiV Health Solutions a prime opportunity to enter a growing market, and at the same time to provide patients in all stages of peripheral artery disease the possibility, for the first time of self-monitoring in their home environment. We look forward to developing iiVH DermaFlow Health Solution as a major force in the Indian healthcare market by bringing Accurate, Affordable and Accessible solutions to impact even the most remote and needy patients”
DermaFlow LLC, www.dermaflow.com, is a US-based healthcare technology development company specializing in the non-invasive measurement of capillary or peripheral blood flow and correlating that to various disease states and stages in acute and chronic healthcare. Specifically, DermaFlow’s proprietary technology, Perichek , has demonstrated utility in a number of clinical scenarios. Some examples include critical care monitoring in ICU settings and early detection of sepsis and monitoring of wound healing. The company is led by CEO Dr Irene Jaffe, an experienced healthcare entrepreneur and manager, accompanied by a team of medical, marketing, and technical executives, and supported by advisers of international renown.
iiV Health Solutions is a Mumbai-based company Co-Founded by Ms Aarathi Arambhan and Ms Pooja Arambhan MBA, LLB, Co- Founder & CEO, together with Alfred Arambhan (www.alfredarambhan.in), specializing in the commercialization of advanced healthcare technologies developed in Israel and the United States. The company is active in India, as well as the markets in Asia and the Middle East. iiV Health Solutions, www.iivhealth.com, personnel can draw on a range of proven experience, that includes cross border technology transfer, marketing and supply chain management, backed up by an advisory board with experience in senior multinational healthcare management, technical innovation and the highest levels of government healthcare development.
CEO: Dr Irene Jaffe
Email : ijaffe@derma-flow.com
Tel +972-54-4948171
www.dermaflow.com
1. Health Self-Monitoring Market Set for Rapid Growth: HealthTech Insider 2017