Monidor has won the tender for the remote monitoring of infusion therapy by the HUS Group - worth up to 2 million euros
The HUS group tendered the remote monitoring of infusion therapy and chose the health technology company Monidor Oy as the service provider. The HUS Group is Finland's largest provider of specialised medical care.
The service, which is suitable for both inpatient wards and home healthcare, has been shown to make nursing work easier and more efficient while saving costs at the same time. The total value of the frame agreement can reach up to 2 million euros.
"Inpatient wards and home healthcare also have to develop over time, and it's great that we are able to help HUS here as a pioneer of remote monitoring. Our goal is that within four years, around 1,000 remote monitoring devices will be in use in the HUS area to make the nurses' everyday life easier. Our service is unique, which is also evidenced by the fact that we were the only bidder in the tender," says Monidor CEO Mikko Savola.
Preparations for the tendering started at HUS as early as 2021, and Monidor's service has been in test use at Haartman Hospital in the internal medicine department since then. Finally, after two years, the tendering process has been completed and the service can be offered to departments in the region on a large scale.
The service is already in use in 40 hospitals and home hospitals around Finland. In addition, the service is used in Sweden, Switzerland and Japan.
"The importance and role of home healthcare will grow in all markets," predicts Savola.
Easier everyday nursing work
Monidor remote monitoring gives an overall view of the gravity infusions of the ward or home healthcare unit The nurse can see at a glance whether all ongoing infusions are going as planned.
"In addition to peace of mind, we offer nurses a simple solution to a very common nursing challenge. With the help of the service, extra check-up visits related to infusion therapy are eliminated, which frees up nurses' time for other tasks. By reducing isolation room visits, protective equipment and therefore material costs are saved," Savola illustrates the concrete benefits of the service.
According to a health economics study published in March 2022, remote monitoring of infusion therapy pays for itself more than 2.6 times.
Options for monitoring vital signs and infusion pumps
In addition to remote monitoring of gravity infusion therapy, HUS has also been offered options for remote monitoring of infusion pumps and vital functions in the contract.
"Infusion treatments are given with pumps when strong drugs such as cytostats are used. Pumps account for approximately 10–20 percent of infusion treatments in hospital wards, but they are an important and essential addition to the service portfolio: Now infusion therapies can be remotely monitored comprehensively, when both pumps and gravity infusion therapies are covered by the same service. The first project is already underway in the Etelä-Savo welfare area in Eloisa, and HUS has also been offered this option," says Savola. Remote monitoring is integrated into the infusion pumps of Monidor's partner B. Braun. B. Braun belongs to the world's largest manufacturer of medical devices, the Braun Group. "We expand and deepen our product and service portfolio in cooperation with strategic partners," says Savola HUS also has an option for the Monidor Vitals service, which remotely monitors vital parameters. Heart rate and oxygen saturation are measured with a pulse oximeter worn on the wrist, into which Monidor's remote monitoring is integrated. "This cooperation has been implemented through an OEM agreement with the American company Nonin Medical. I believe that remote monitoring combined with wearable electronics will expand in health technology," says Savola.
Over 560,000 euros in funding for product development and internationalization
Despite the paralyzed economic situation, Monidor managed to raise more than half a million euros in funding in the fall of 2023.
"In this economic situation, the funding we have received can be considered a real victory in the prevention. In addition to Finland, we are now focusing with our partners on strengthening our positions in the markets where we have already landed. In addition to strategic partnerships for product development, we have invested in local distribution partners in internationalization," says Savola.
In Sweden, Monidor's distribution partner is ApoEx, and in Japan, Senko Medical.
"For wider scaling, we are looking for a strategic partner with whom our international growth can accelerate significantly. This could be, for example, a leading infusion pump or patient monitoring manufacturer into whose product our own service can be seamlessly integrated," says Savola.
Monidor is a health technology company from Oulu, founded in 2015, which specializes in developing easy-to-use and innovative remote monitoring services for hospital wards and home healthcare. Remote infusion therapy monitoring was launched in 2021 and now infusion pumps are also being integrated into the remote monitoring application. In addition, as a new product, remote monitoring expands to monitor vital parameters. Monidor's goal is to make nurses' work easier and improve patient safety. The company's operations are based on customer orientation and effectiveness, which can be seen concretely in close cooperation with hospitals, active feedback collection and benefit measurements. Monidor's strengths are experience and know-how both in nursing work in hospitals and in various areas of technology.
CEO Mikko Savola, email@example.com, tel. +358 50 3788890