Leading Intensive Care Clinical Decision-Support Solution Secures New Funding and Inks Strategic Collaborations and Clients to Fuel Expansion
BOSTON – January 20, 2022 – Etiometry, a leader in clinical decision-support software for the intensive care environment, today, announced substantial business growth and expansion in 2021. The successful year for Etiometry included achieving new sales milestones, inking a key strategic collaboration, expanding into new patient populations and clinical institutions, conducting meaningful research, and securing new funding. With the accomplishments of 2021, Etiometry is poised to continue its strong trajectory in 2022.
“2021 was the year we brought it all together for our business—we signed new hospital partners, secured new funding and strategic partnerships, and made significant clinical advancements,” said Shane Cooke, CEO of Etiometry. “We are fortunate to have such strong partners, clients, and collaborators that gave us the opportunity to make significant strides, particularly during a challenging year for healthcare. We are grateful for the chance to make a significant impact on the future care of countless patients and to help give clinicians the confidence to make the right decision in each moment.”
Etiometry’s software platform provides a comprehensive solution to improve management and decision making for critically ill patients, which yields better outcomes and significant economic savings. The platform aggregates patient data including vital signs, lab results, and medications from multiple sources into one streamlined visualization and incorporates proprietary risk analytics which provide early awareness of emerging adverse physiological conditions, remotely and at the bedside. Etiometry’s partner hospitals include more than 20 of the top children’s hospitals in the United States, as ranked by U.S. News & World Report, and a growing list of top adult academic medical centers.
New funding and partnerships in 2021 allowed Etiometry to expand its existing footprint within pediatric and cardiac intensive care units and extend into both pediatric and adult OR and ED settings. As a result, the company:
- Increased contracted intensive care units by 43% bringing the total number of units licensed to 100
- Signed 45 expansion units including 8 freestanding COVID-19 units in the past 2 years
- Increased growth by 62% in the total number of licensed beds Etiometry supports
- Expanded to 6 new types of units including adult and pediatric operating and emergency rooms
In 2021, Etiometry expanded its reach by securing a partnership with Terumo Cardiovascular, a global leader in cardiovascular surgery technologies, combined clinical workflow with clinical decision support for acute care hospitals. The partnership between Etiometry and Terumo improved care coordination and enhanced perioperative management of a patient’s condition.
During the past year, Etiometry has also brought expanded clinical functionality to the market. Debuting its Clinical MAPs feature, the company is now able to support next-generation clinical decision support by embedding protocols and workflows into its software. By doing so, clinicians can conduct an automated screening for patients who fit within certain parameters for protocols like mechanical ventilation weaning.
Etiometry continues to be a driver of clinical evidence. The company achieved a major milestone by beginning four key outcomes studies in 2021. These studies plan to capture results in both the pediatric and adult space focused on hemodynamics and ventilation. In addition, 18 clinical projects were started by investigators in 2021. Etiometry also partnered with Brown-Lifespan Center for Digital Health (CDH) on a joint clinical research project spanning eight adult units within Rhode Island Hospital and The Miriam Hospital. The research partnership will lead to groundbreaking advancements in Etiometry’s algorithms that will help clinicians provide better care for future patients.
Fueling Etiometry’s 2021 growth was a fully subscribed Series A-3 extension raise of $9 million. The funding was led by SKK 9i Ventures with participation from Shamrock Holdings and other healthcare investors. Looking into 2022, Etiometry anticipates continued record growth. The funding secured in 2021 will allow the company to drive growth by expanding its footprint in hospitals and health systems, continue more groundbreaking research, and seek additional FDA approvals to enhance the technology and algorithm expansions.
Founded in 2010, Etiometry is a leader in clinical decision-support software designed to help clinicians in the intensive care setting make data-based decisions regarding their patients’ care and treatment. The company’s technologies provide valuable clinical insight and analysis to support early recognition of subtle changes in patients’ conditions to avoid complications and speed recovery. With roots in pediatric ICUs, Etiometry’s software is utilized in more than 20 of the top U.S. children’s hospitals and a growing number of top adult hospitals. Etiometry is committed to improving patient outcomes, increasing clinical efficiency, and lowering the cost of care through the more effective use of data. To learn more, visit www.etiometry.com.