CARDIOTRACK BY UBER DIAGNOSTIC


Sensors available:
• 12-lead diagnostic, grade ECG,
• Blood oxygen saturation level, and;
• Blood pressure.

Key Statistics:
• 300+ Device Deployment 
• 40% CVD affected scans 
• 15% Increase in scans monthly
• 2,000 Average scans per month
• 137 Current number of subscriptions
• Rs. 2,355/- Average subscription price per device per month

Currently, the research and development operations remain in India whereas some of the intellectual property (IPs) has been transferred to the Singapore entity such as:
• Bluetooth technology in device to connect with smartphones and devices
• Grid precision and signal technology 
• Using ECG tube to detect heart conditions 
• Technology to identify blockage in arteries and how it can be effectively treated

Founded in 2012, Cardiotrack is India’s first cardiac health diagnosis-to-interpretation platform with artificial intelligence (AI), machine learning, data analytics and a cloud-based healthcare device that is designed for early detection and treatment of cardiovascular diseases (CVDs). They specialize in using AI by measuring the heart condition of an individual, ECG and blood pressure monitoring, offers record keeping and storage of a patient's information, facilitates data analytics and diagnostics workflow management, enabling doctors to get the heart reading of the patients at the clinic via their smartphones and maintain a record of it via the cloud system.

The company’s mission is to significantly reduce the cost and time needed for diagnosis through continuous innovation by making cardiac healthcare more accessible and efficient. By using the AI and a cloud-based system, it provides the key solution to address the problems in rural areas where the right, on-time diagnosis can make a life-changing difference.

Cardiotrack has a presence in 12 cities across India served through 4 clusters which are Bangalore, Delhi, Hubballi, and Ahmedabad where this pocket-sized device has been well received by hospitals and primary health centres in Tier II cities and rural areas. In addition, trial units being deployed in countries like USA, UK, Netherlands, South Africa, Mexico and South East Asia.

Cardiotrack health sensors provide clinical grade readings through 12-lead ECG, SpO2 and blood pressure, and the clinical grade ECG reading will be displayed on smartphones or tablets via Bluetooth. 12-lead ECG is a non-invasive yet valuable diagnostic tool, the 12-lead ECG records the heart’s electrical activity in waveforms. When interpreted accurately, an ECG can detect and monitor a host of heart conditions – from arrhythmias to coronary heart disease to electrolyte imbalance.

The Cardiotrack application can be downloaded on smartphones while data generated will be stored in their cloud system. The data will then be analysed by an AI system and the results (in grid form) which is the actual measurement, like those generated through traditional ECGs can be printed out. This allows patients to receive instant diagnosis on potential CVDs and advice the patient of available/nearby hospital for further diagnosis or surgery if necessary. Fro, time to time the patient’s condition can also be monitored via the cloud platform.

The company has proposed 2 revenue models. 1) Via a subscription basis with a monthly fee and a lock-in period of 3 months. Subscription fees vary depending on the province’s location (eg. Tier 1, Tier 2, Tier 3). 2) Via upfront sales of devices with an annual licensing fee. The company is also exploring a possible franchising model.

Cardiotrack Mobile App: The application displays, analyses and stores the patient’s diagnostic reports.

Cardiotrack Cloud Services: Cloud based servers provide secure storage of patient records on a private cloud facilitating remote patient monitoring as well as access to medical records.

Cardiotrack Intervention: A tele-intervention platform that allows the physician to connect with specialists and hospitals to initiate intervention.

Uber Diagnostic plans to expand into the ASEAN market and set up an entity in Malaysia (hub) with the distribution rights throughout ASEAN with Vision Venturers Management Berhad handling the distribution channel.  This is because Malaysia is the only Asian country in the report titled “4 Countries with The Best Healthcare In The World”, alongside Costa Rica, Colombia and Mexico. Malaysia was also the recipient of “Destination of the Year” for the third time in a row at the International Medical Travel Journal (IMTJ) Awards 2017 in Opatija. On top of that, Malaysia also has :

• Top-Notch Healthcare - Highly qualified medical practitioners, majority of them having undergone training in America, Australia or United Kingdom

• Affordable Healthcare - Healthcare is attractively affordable without compromising the quality of treatments. Besides, the competitive currency also means the tourists can travel to Malaysia at a much cheaper cost and acquire medical treatment at more affordable rates

• State-of-the-art facilities - Fully equipped with some of the most advanced facilities• Confidentiality and safety assured

• Fascinating Malaysia – A perfect place to relax and recuperate post-treatment• No language barrier – Doctors can communicate in multiple languages

• Halal Friendly - Growing global halal hub with halal facilities and medical alternatives

Malaysian medical tourism is experiencing a 30% growth year-on-year and the revenue from medical tourism was RM1 billion in 2016 from an estimated 900,000 medical tourists. On average, a medical tourist contributes 2 times as much to Malaysia economy compared to regular tourists. Most of the medical travellers are from the ASEAN region, mostly from Indonesia which made up 70% of total revenue followed by Singapore, China and India with the number of patients from China having grown by 30% in 2016 as compared to 2015. Cardiology is one of the top treatments that sought by medical travellers.

Besides, the most sought-after hospitals are in George Town and Kuala Lumpur. These 2 cities are serviced by plenty of international airliners from around the world. Several hospitals in Penang and Kuala Lumpur are among Southeast Asia’s first recipients of the United States’ prestigious Joint Commission International (JCI) certification, hence massively boosting the confidence among foreign medical tourists.

 

Cardiotrack

Features

Benefits

mHealth

First Level Diagnosis

ECG interpretation as part of mHealth App

(provided in real-time); ability to interpret 10+

heart health abnormalities without internet.

Artificial Intelligence

FDA and CE certified AI diagnostic message

received by periphery clinic as well as hospital,

within 3 minutes of the scan without internet.

Cardiologist’s Review

The ECG scan is shared with Hospital

Cardiologist for interpretation.

AI Interpretation

Unbiased, instantaneous, independent of scan

Load.

 

Company

Cardiotrack

Artificial Intelligence

Yes

Data Interpretation

Yes

Bluetooth

Yes

2G-4G connectivity, Wi-Fi

Yes

Thermal Printer

Yes

Right Precordial ECG Annotation

Yes

Change Lead View Option

Yes

Dynamic ECG Gird for Android display

Yes

Signal Calibration/ Gain Adjustment

Yes

Patient prescription and Medical Report Storage

Yes

SD Card

Yes

 

Competitive Advantage

Cardiotrack is the first to have successfully commercialised an AI and data storage incorporated ECG. Being able to generate more accurate results at a much faster speed puts them ahead of most available EGCs in the market. A majority of the available technology still requires manual interpretation by experts. Cardiac Design Labs’ MIRCam is one competing device that does not require expert interpretation, more closely rivalling Cardiotrack’s technology. However, instead of relying on AI, MIRCaM relies on an algorithm. Cardiotrack’s partnership with Cardiolog further solidifies their position in the market place, providing them with an AI diagnosis platform, trained through more than 500,000 data points. An AI powered diagnostic tool is the future, not only in CVD, but the entire medical industry, having the first mover advantage puts Cardiotrack in a favourable position to secure market share. With data being the most important asset in this development, having launched early gives Cardiotrack a head-start in capturing actual real-time data using the actual equipment.

 

OVERVIEW MARKET

Globally, CVDs are responsible for an estimated 17.7 million peoples’ death in 2015, representing 31% of global death. About 80% of it can be prevented if action taken within the global hour. According to World Health Organization (WHO), CVDs causes more death than any other diseases and over three quarters of CVD deaths take place in low and middle-income countries annually. This is due to the under developed medical infrastructure when compared with high income countries whereby the integrated primary health care programmes for early detections and treatments are far more advanced.

Besides, the WHO also stated that people in low and middle-income countries who suffer from CVDs have less access to effective and equitable health care services which responds to their needs. As a result, many people in low- and middle-income countries are often detected late in the course of the disease and die younger from CVDs. For instance, there are more than 150 million non-communicable disease (NCD) patients, 60 million patients with CVDs in India yet only 10,000 doctors available to support these patients.

In Malaysia, CVDs are the top killers in Malaysia compared to any other diseases. According to the Malaysian National Heart Institute (IJN), CVDs are the number one cause of death in public hospitals since 2007 and such diseases of the circulation accounted for about one-quarter (24.7%) deaths in both public and private hospitals in 2013. Malaysia Acute Coronary Syndrome (ACS) Patients are younger compared to Western registries especially in ST Segment Elevation Myocardial Infarctions (Stemi). The average age of Malaysian ACS patients is about 58.5 compared to 66 in the Global Registry of Acute Coronary Events (involving 30 countries in the Americas and Europe), 65 in the Thai Acute Coronary Syndrome Registry, 56 in the Gulf Acute Heart Failure Registry (involving the Middle East countries) and 60 in the Kerala-ACS registry (in India).

Malaysian patients have a high prevalence of cardiovascular risk factors, hypertension, dyslipidaemia and diabetes. There are about 44% of ACS patients have three or more cardiovascular risk factors, with the most widespread risk factors being obesity (77%), hypertension or high blood pressure (65%), diabetes (46%), smoking (38%) and dyslipidaemia or abnormal cholesterol levels (37%).

Hence, this innovation from Uber Diagnostic will reduce the death rate caused by CVDs due to its early detection, accuracy and portability. As mentioned in Section 5.1, patients’ health can be monitored via the cloud system by doctors. This will effectively reduce the risk of late detection on CVDs or NCD and indirectly reduces the death rate in rural or under developed areas.