HeartBeam enters into strategic alliance agreement with Samsung
May 31, 2023
SANTA CLARA, Calif.--(BUSINESS WIRE)--HeartBeam, Inc. (NASDAQ: BEAT), a cardiac technology company that has developed the first and only 3D-vector electrocardiogram (VECG) platform intended for patient use at home, today announced that it has entered into a Strategic Alliance Agreement (SAA) with Samsung, extending the existing SAA between LIVMOR and Samsung. HeartBeam acquired the assets of LIVMOR earlier this year.
Under the terms of the agreement, HeartBeam and Samsung will identify and define opportunities for collaboration, tapping the HeartBeam team's expertise and patented technology in the assessment and monitoring of cardiac symptoms.
“The goal of this partnership is to bring standard of care for cardiac diagnostic capabilities to patients by utilizing cutting edge technologies of both Samsung and HeartBeam,” said Branislav Vajdic, Ph.D., HeartBeam CEO and Founder. “Our newly acquired state of the art, FDA cleared, Samsung watch-based arrhythmia detection tool, once integrated with the HeartBeam AIMIGo™ telehealth platform, presents a unique opportunity to extend our product capabilities well beyond what is currently available for cardiac patients outside of a medical setting.”
Kevin Jones, Senior Director, Federal Healthcare, Samsung Electronics America, added, “The strategic collaboration between Samsung and LIVMOR was very successful, resulting in an FDA cleared solution for Atrial Fibrillation detection centered around the Samsung Galaxy watch and tablet running Samsung's defense-grade cyber-security system, Knox. We are excited that LIVMOR is now part of HeartBeam and look forward to continuing our successful collaboration. The potential of combining LIVMOR’s technology and the HeartBeam AIMIGo system holds significant promise to address major cardiac conditions for our veterans.”
Founded in 2016, LIVMOR developed the Halo™ Atrial Fibrillation (AF) Detection System, the world’s first FDA-cleared prescription wearable for continuous cardiac rhythm monitoring. The Halo system provides continuous monitoring of pulse rhythms for the detection of AF on-demand during the day and automatically overnight. Under the previous SAA, LIVMOR and Samsung developed a physician-prescribed and fully integrated patient care platform that provides extended monitoring of patient cardiovascular health in virtually any setting, using medical grade equipment. LIVMOR’s technology was commercially deployed within the VA Healthcare System in Dallas, Texas.
“Thanks to our cooperation with LIVMOR and Samsung, we are able to treat some of the nation’s most at-risk patients as safely and effectively from the comfort of their homes as we would if they were sitting in an exam room,” said Dr. Jerrold Grodin, Department of Veterans Affairs, North Texas. “We’ve seen an increase in early adoption from patients when their physicians are also early adopters.”
Among the available opportunities is a potential collaboration with the Department of Veterans Affairs through its Accelerating VA Innovation and Learning (AVAIL) program. In September, the VA announced that 17 companies had won spots in a potential five-year, $650 million healthcare technology research and development program. Participants provide subject-matter expertise to help the agency design, build and test novel platforms, services and care models that could be scaled into clinical production to support the Veterans Health Administration.
One of the AVAIL program's awardees is Longview International Technology Solutions (LTS), a systems integration company. LIVMOR and Samsung have been designated as official collaborators with LTS for the AVAIL project. With the Company’s anticipated participation in the AVAIL project, HeartBeam could share its expertise in the assessment and monitoring of cardiac symptoms as it collaborates with Samsung to innovate and develop solutions for the VA, the largest integrated healthcare system in the U.S.
"Veterans reported a rate of heart attacks more than twice that of non-veterans in one study," Dr. Vajdic added. "This shows that coronary artery disease is a significant problem for veterans, making improvements in heart attack detection at the VA particularly critical."
About HeartBeam, Inc.
HeartBeam, Inc. (NASDAQ: BEAT) is a cardiac technology company that has developed the first and only 3D-vector ECG platform intended for patient use at home. By applying a suite of proprietary algorithms to simplify vector electrocardiography (VECG), the HeartBeam platform enables patients and their clinicians to assess their cardiac symptoms quickly and easily, so care can be expedited, if required. HeartBeam has two patented products in development. HeartBeam AIMI™ is software for acute care settings that provides a 3D comparison of baseline and symptomatic 12-lead ECG to more accurately identify a heart attack. HeartBeam AIMIGo™ is the first and only credit card-sized 12-lead output ECG device coupled with a smart phone app and cloud-based diagnostic software system to facilitate remote evaluation of cardiac symptoms. HeartBeam AIMI and HeartBeam AIMIGo have not yet been cleared by the US Food and Drug Administration (FDA) for marketing in the USA or other geographies.