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LATEST TECHNOLOGIES MINT Solutions MedEYE

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Page 1: Med Eye by Mint Solutions LATEST TECHNOLOGIES

LATEST TECHNOLOGIES

MINT SolutionsMedEYE

Page 2: Med Eye by Mint Solutions LATEST TECHNOLOGIES

FOUNDING COMPANY• MINT Solutions: • Mint Solutions is a medical device company,

specializing in medication safety solutions for healthcare institutions. The company was founded in 2009 by three MIT graduates and is now headquartered in Iceland. Mint Solutions is developing MedEYE, an innovative medication scanner for bedside medication verification.

• Founders: Maria Runarsdottir, Gauti Reynisson, Ivar Helgason

• Website: http://www.mint.is

Page 3: Med Eye by Mint Solutions LATEST TECHNOLOGIES

RESEARCHER:

Massachusetts Institute of Technology (MIT)About: The mission of MIT is to advance knowledge

and educate students in science, technology and other areas of scholarship that will best serve the

nation and the world in the 21st century — whether the focus is cancer, energy, economics or literature.

Page 4: Med Eye by Mint Solutions LATEST TECHNOLOGIES

PROBLEMS TO BE SOLVED:

Careless staff may explain why medication errors are more likely to occur in nursing

homes than for patients self-administering their medicines at home, research by the

Victorian Poisons Information Centre suggests.

Page 5: Med Eye by Mint Solutions LATEST TECHNOLOGIES

WORKING:Although the hardware is impressive, much innovation is in

MedEYE’s software, which cross-references (and updates) the results in the patient’s records. Results are listed in a

simple interface: Color-coded boxes show if pills have been correctly prescribed (green), or are unknown or

wrong (red). If a pill isn’t in MedEYE’s database — because it’s new, for instance — the system alerts the nurse, who adds the information into the software for

next time.“It does all the querying for the right medication, for

the right patient, and takes care of the paperwork,”

Page 6: Med Eye by Mint Solutions LATEST TECHNOLOGIES

FEEDBACK:Feedback from nurses using MedEYE to ease their workloads has

been positive, Reynisson says. And errors are caught more often than expected. In fact, he recalls a memorable moment last year when a nurse at the Dutch hospital demonstrated the MedEYE for department heads on a random patient. The nurse scanned

four pills, which had been assigned to the patient, and added an extra, erroneous pill to show how MedEYE caught errors.

“MedEYE showed the extra pill was incorrect. But, to his surprise, so were two other pills that the nurse had assumed were

correct, because another nurse had dispensed those,” Reynisson says. “Goes to show that even with full focus, it is common for

nurses to be in a position where they are expected to catch errors made in other parts of the medication-delivery process.”

Page 7: Med Eye by Mint Solutions LATEST TECHNOLOGIES

MedEYEMedEYE is a

revolutionary approach to medication safety in

hospitals. MedEYE helps nurses work faster and

safer by verifying all medications at once,

even without barcodes, just before

administration.

Page 8: Med Eye by Mint Solutions LATEST TECHNOLOGIES

ADVANTAGES:

ENSURES MEDICATION SAFETY:THE PATENT PENDING MEDEYE™ DEVICE

ALLOWS FOR FAST AND RELIABLE MEDICATION IDENTIFICATION AND

VERIFICATION. THE MEDEYE™ SOLUTION FITS PERFECTLY WITH ANY

WORKFLOW AND IT INFRASTRUCTURE AND REQUIRES ALMOST NO

TRAINING FOR THE USERS. SIMPLE, EASY, PATIENT SAFETY.

Page 9: Med Eye by Mint Solutions LATEST TECHNOLOGIES

ADVANTAGES:

SAVES TIME:

NURSES PERFORM THEIR TASKS UNDER

INTENSE TIME PRESSURE, WHERE

MISTAKES CAN COST LIVES.

Page 10: Med Eye by Mint Solutions LATEST TECHNOLOGIES

ADVANTAGES:EASY TO IMPLEMENT:

Medeye can either be implemented as a

standalone solution or as an integral part of the

eprescribing system of the hospital. Integration with

existing it systems is based on established standards

and proven interfaces.

Page 11: Med Eye by Mint Solutions LATEST TECHNOLOGIES

ADVANTAGES:

EASY TO USE:

MedEYE is designed with the nurse in mind. With MedEYE, the nurse simply

puts the medication into the device and gets a clear "ok" signal when all the

medications are correct.

Page 12: Med Eye by Mint Solutions LATEST TECHNOLOGIES

RECEPTION & INVESTMENT FUNDING:

• The funding was led by European investment firm Life Sciences Partners (LSP) and co-led by Seventure Partners, with participation from existing investors.

• MINT Solutions, a hardware startup that’s developed a scanning device designed to help hospital nurses ensure each patient gets the right medicine and the correct dosage, has pulled in a €4.425 million ($6 million) Series A funding round.

• The MedEYE device has been deployed in hospitals in the Netherlands so far, with plans for further rollouts there and also in the UK and Germany — fueled by the new funding round.

Page 13: Med Eye by Mint Solutions LATEST TECHNOLOGIES

Thank You