Toumaz has established a joint venture with California Capital Equity to expand the commercialisation and distribution of its Sensium digital plaster.
The joint venture, named Toumaz US, will be headquartered in San Diego, California, and will sell and distribute the Sensium digital plaster in North America and worldwide.
The Sensium digital plaster is a small, ultra-low-power, wireless body-worn monitor that continuously acquires vital-signs data, including temperature, heart rate and respiration rate.
The current Sensium digital plaster is targeted for use in hospital general ward environments. It also has the potential to be extended into telecare, chronic disease monitoring, community care settings and the home, where the continuous or extended monitoring of patients is important.
‘Without a doubt, wireless is the future of healthcare,’ said Dr Patrick Soon-Shiong, chief executive of California Capital Equity. ‘Wireless technology is the key to bringing quality healthcare to everybody, wherever they may be, in real time. Toumaz’s ultra-low-power technology is going to be a vital element in this.’
Under the terms of the partnership, California Capital Equity will provide up to $25m (£15.6m) in funding to the company over the next two years and will own 80 per cent of the equity. The remaining 20 per cent will be held by Toumaz.
Abingdon-based Toumaz will also receive product and royalty revenues from the joint venture as it commercialises the Sensium digital plaster.