Company Focused on Helping Hospitals and Health Systems Mitigate Risk Associated with Drugs and Processes of Concern
Palo Alto, Calif.-based private investment firm Eigen Capital LLC, which acquired the EndoTool business from Hospira Worldwide in September 2012, today unveiled the company’s new identity as Monarch Medical Technologies. The announcement comes as the company makes its first public debut at the 2013 National Teaching Institute & Critical Care Exposition being held May 20–23, 2013, in Boston (Booth #1654).
The Monarch name was selected to reflect the company’s mission of transforming the way drugs of concern are dosed and processes of concern are handled in a hospital setting. Monarch’s flagship product, the EndoTool Glucose Management System, is a market-leading software solution that provides unsurpassed patient-specific glycemic control across a broad population of patients.
Eigen Capital also disclosed its appointment of medical device industry veteran Dr. Wilson Constantine as Monarch Medical Technologies’ chief executive officer. Bringing nearly two decades of executive leadership experience to the company, Dr. Constantine joined concurrently with the divesture and has been instrumental in shaping the new company’s vision, focus and future product pipeline. He came to Monarch Medical Technologies from Fortune 500 market leader Stryker Orthopaedics, where he served as vice president of commercial operations. Dr. Constantine has also held general management, product development, sales, marketing and strategy positions with leading medical products innovators and venture-backed entities as well as established medical device companies Aesculap-B/Braun, Henry Schein Inc., and Smith and Nephew.
“Eigen Capital acquired the EndoTool business because it recognized the incredible potential of its platform Model Predictive Control technology, which provides value for stakeholders across the healthcare continuum,” Dr. Constantine said. “The new brand reflects the rebirth of innovation in the space the EndoTool solution created, and positions us as the clinical authority in the field.”
The EndoTool Glucose Management System is the only glucose management software solution that models, predicts and adapts to each patient’s unique physiology and individual response. With the system’s proprietary Model Predictive Control technology, 99.4% of patients achieve control1, and glucose levels remain within target range as much as 97.25% of the time after control is achieved.1 Also, EndoTool can reduce hypoglycemia rates to 0.03%1 and reduce blood glucose readings by 46%.2 The Monarch Medical Technologies team is comprised of clinicians and engineers who originally helped develop EndoTool, ensuring continued expert knowledge of the technology and a unique ability to improve and adapt it to the ever-changing needs of healthcare providers today.
“EndoTool’s superior performance allows for unrivaled optimization in patient-specific insulin dosing, helping to ensure that healthcare institutions avoid costly readmissions, hospital-acquired infections and potential Never Events3 that are the result of poor glucose control,” added Dr. Constantine. “Currently, more U.S. healthcare institutions use EndoTool than any other inpatient glycemic management tool to keep their patients in control.”
“Never Events” are defined by the Centers for Medicare and Medicaid Services as serious, reportable adverse events for which it may not reimburse hospitals. There are several “Manifestations of poor glucose control” that are among the list of CMS-defined Never Events.3
Since his tenure as chief executive officer, Dr. Constantine has driven continued development of the EndoTool suite of products and services, including a next generation version of the product. Pending clearance from the U.S. Food and Drug Administration, the next generation version will include several entirely new features and benefits such as:
A new elegant and easy-to-use graphical user interface;
- Insulin on Board (IoB™) functionality to assist in the prevention of rapid blood glucose drops and hypoglycemia in individual patients;
- Enhanced customization for patients with diabetic ketoacidosis (DKA) and hyperosmolar nonketotic state (HNS), ensuring proper fluids while metabolic issues are addressed and helping avoid overly rapid time-to-control, which can be counterproductive for a patient suffering from
these complications; and
- Availability in both Cloud-based (“thin client”) and “thick client” formats Attendees of the National Teaching Institute & Critical Care Exposition will have the chance to receive demonstrations of the next generation product at the Monarch Medical Technologies booth. Company executives will also be on hand to discuss the potential future applications of the technology.
About EndoTool Glucose Management System
EndoTool Glucose Management System is the market-leading glucose management software solution for healthcare institutions. It is designed to achieve rapid and sustained control in even the most complex patient cases, including those with sepsis, burns, DKA and HNS. Unlike paper-based and traditional computer-based protocols, EndoTool is the only software solution of its kind that models, predicts and adapts insulin dosing to the individual patient. EndoTool’s proprietary Model Predictive Control technology allows for unsurpassed optimization in patient-specific dosing, significantly improving quality of care, reducing risk and controlling healthcare costs. Moreover, it gives healthcare providers the flexibility they need to support best practices and comply with continuous improvement initiatives. With EndoTool, 99.4% of patients achieve control, and glucose levels remain within target range as much as 97.25% of the time after control is achieved.1
About Eigen Capital LLC
Eigen Capital LLC is a private investment firm specializing in the acquisition and operation of small to mid-sized companies that provide services and solutions to customers in a broad range of industries. Eigen’s leadership team has significant experience in investing in companies or business divisions and working with management teams to formulate and execute reorganization plans and growth initiatives.
About Monarch Medical Technologies
Monarch Medical Technologies is a privately held medical technology company founded by clinicians with a vision of dramatically improving hospital-based glucose management by replacing traditional “paper and pencil” linear protocols with individualized and predictive computer-based solutions. With the launch of its flagship product, the EndoTool Glucose Management System, the company pioneered the field of predictive therapeutic control technologies for managing drugs and processes of concern. Formerly the EndoTool division of Hospira Worldwide, a leading Fortune 1000 healthcare company, the company was strategically acquired in September 2012 by private equity firm Eigen Capital.
1 Multi-year experience of EndoTool customers; data on file
2 Fogel, S, et al. “Effects of Computerized Decision Support Systems on Blood Glucose Regulation in Critically Ill Surgical Patients.” JACS. 2013; 216 (4): 828-833
3 Manifestations of Poor Glycemic Control; Changes to the Hospital Inpatient Prospective Payment Systems and Fiscal Year 2009 Rates; Department of Health and Human Services, Centers for Medicare and Medicaid Services. 42 CFR Parts 411, 412, 413, 422, and 489 (19 August 2008) pp. 48433-49084. Available at: http://edocket.access.gpo.gov/2008/pdf/E8-17914.pdf Accessed April 27, 2010.