(MENAFNEditorial)
PEORIA, Ill., Oct. 17, 2018 /PRNewswire/ -- OSF Ventures, the corporate investment arm of OSF HealthCare, is investing in Gauss Surgical, the developer of technology used to help save the lives of women giving birth. Gauss Surgical has developed Triton, a comprehensive monitoring solution that helps surgeons and other clinicians accurately estimate blood loss in real-time. This allows for early recognition of postpartum hemorrhage and an ability to make more informed clinical decisions.
Clinicians in the operating room use the mobile application to take photos of sponges and suction canisters collecting blood, amniotic fluid and wound irrigation during surgical procedures. Through machine learning and computer vision algorithms developed by Gauss, Triton accurately estimates how much blood is lost during surgery. Clinicians also use Triton to help quantify blood loss for vaginal deliveries and postpartum care, creating a comprehensive blood monitoring solution for obstetrics departments.
"By using Triton, we are getting the information we need to quickly decide whether to replace a patient's blood products or other fluids during a surgical procedure," said Cassi Adkins, Birthing Center Supervisor, OSF HealthCare St. Joseph Medical Center. "In many cases, without Triton, the quantification is not done until the operation is complete and, in some cases, when the physician has already left the operating room due to time demands."
In 2010, the Joint Commission, which accredits hospital systems and programs in the U.S., found that failure to recognize excessive blood loss during child birth is one of the leading causes of maternal death in the U.S. Illinois recently mandated hospital systems to report measurements of blood loss for all deliveries.
"We are really excited to adopt this technology," said Stan Lynall, Vice President of Venture Investments for OSF Ventures. "It will assist us in complying with this relatively recent Illinois regulation and certainly better inform our clinicians at critical times. Our goal is that it will ultimately be deployed across the Ministry for the benefit of our patients."
Lynall says another reason OSF Ventures invested in Gauss Surgical is the company's work to develop broader surgical applications.
"At Gauss, we are leveraging artificial intelligence through machine learning and computer vision technology to give clinicians, for the first time, an objective view of blood loss," said Siddarth Satish, CEO of Gauss Surgical. "We are delighted to be partnering with both OSF Ventures and OSF HealthCare to continue to expand the impact of this technology."
Garrett Vygantas, MD, managing director for OSF Ventures will join the Gauss Surgical board of directors as an observer to advance partnership opportunities.
OSF Ventures joins nine other investors contributing to the Series C funding including SoftBank Ventures Korea, the only global early-stage venture capital arm of SoftBank Group that has invested US $600 million across 230 start-up companies, and the Innovation Fund of Polaris Partners, a Boston-based venture capital firm with more than $4.3 billion under management.
A script, video and audio assets will be posted to https://newsroom.osfhealthcare.org/ today.
OSF HealthCare, headquartered in Peoria, is owned and operated by The Sisters of the Third Order of St. Francis , and consists of nearly 21,000 employees in 126 locations, including 13 hospitals, 11 Centers for Health and 15 OSF PromptCares throughout Illinois and Michigan. Launched in 2016, OSF Innovation is a multidisciplinary innovation hub, located within the Jump Trading Simulation & Education Center, focused on internal and external innovation to solve the largest health care challenges. More at www.osfinnovation.org and www.osfhealthcare.org .
OSF Ventures specializes in venture optimization, partnering financially and operationally in companies that improve patient outcomes and reduce costs to health care systems. OSF Ventures is a division of OSF HealthCare and part of OSF Innovation. More at www.osfventures.org .
Triton uses computer vision and machine learning algorithms to estimate blood loss in real time by analyzing images of surgical sponges and canisters taken with an iPad in the operating room. Triton has demonstrated that accurate, real time estimation of blood loss leads to early recognition of hemorrhage, reduced blood transfusions and shortened length of stay for patients. Triton is FDA cleared and CE marked and has been adopted by 50 hospitals in the U.S. Triton received a 2018 Apple Design Award, which recognizes the best in design, innovation and technology on Apple platforms.
Gauss is a Silicon Valley-based technology company pioneering an over-the-air delivery model for medical technologies. The company leverages computer vision and machine learning to deliver mobile applications for the operating room, with a focus on improving patient safety, quality and outcomes. The company's initial product, Triton, is a real time blood loss monitor that improves care for patients and reduces costs for hospitals. For more information, go to http://www.gausssurgical.com/ .
Contact: Denise Molina-Weiger 309.308.9547
SOURCE OSF Ventures
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