Leading diagnostic and therapeutic medical technology company Laborie Medical Technologies Corp. (Laborie) announced its investment in iO Urology, a venture-backed medical technology company that developed CarePath® an at-home, handheld uroflow device that is FDA-approved and has been utilized in multiple urology clinics in the U.S.
| PORTSMOUTH, N.H., March 29, 2024 /PRNewswire/ -- Leading diagnostic and therapeutic medical technology company Laborie Medical Technologies Corp. (Laborie) announced its investment in iO Urology, a venture-backed medical technology company that developed CarePath® an at-home, handheld uroflow device that is FDA-approved and has been utilized in multiple urology clinics in the U.S. CarePath’s simplistic model allows the device to be shipped directly to the patient’s home and uses embedded cellular connectivity. This provides reliable, accurate data and improves diagnosing and managing lower urinary tract (LUTS) issues such as BPH (Benign Prostatic Hyperplasia). Patients see their voids and functions first-hand and receive education about BPH and the various treatment options available to manage the disease. As many as 14 million men in the United States have symptoms of BPH, and if left untreated, BPH can lead to severe disease of the bladder and kidneys. A gap in patient awareness and education about BPH is believed to be the primary reason driving non-compliance and lack of engagement. Most patients seek specialist care from a urologist, and many leave with a prescription for oral therapy. However, just a fraction of patients return for a follow-up visit. With CarePath, 91% of patients returned to the clinic to review the CarePath Uroflow report with their provider and consider surgical intervention. Men who were educated with repetitive measurements of urine volume flow and disease education were significantly more likely to engage in managing the condition. “At Laborie, we strongly believe in the value of patient education as a pathway to support the restoration of patient dignity,” said Tim Panciera, Vice President and General Manager of Laborie’s Urology Business Unit. “The team at iO Urology developed a state-of-the-art device with a dynamic patient ecosystem that empowers patient engagement as a superior standard of care. Our missions are closely aligned, making this a natural investment to continue accelerating Laborie’s position and expertise in the advanced diagnostics market.” “We’re eager to collaborate with Laborie, pioneers in diagnostic and therapeutic urologic healthcare,” said iO Urology Co-Founder and CEO Britton Garrett. “CarePath bridges the clinic-patient gap, offering a convenient, accessible solution for managing urological conditions in the home.” About Laborie Medical Technologies
SOURCE Laborie Medical Technologies |
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