$10 million dollar prize for Patient Monitoring Inventors!

[rwingo]

Want to make a quick $10 million for your portable patient monitoring device? Then go check out the Business 2.0’s $100 million giveaway and click on investor #6:

Patient Monitoring to Go
The Investor: Corey Mulloy, general partner, Highland Capital Partners
What he's backed: AccentCare, Archemix, Yoga Works
What he wants now: An engineering team to design implantable wireless devices capable of 24/7 patient and data monitoring for conditions such as heart disease and diabetes.

Companies like Medtronic and Boston Scientific have multibillion-dollar R&D pipelines for medical devices but are increasingly finding it cheaper to simply acquire early-stage companies--so a startup need only get a product to an early testing stage, and can then let a bigger player worry about taking it commercial. Mulloy considers implantable hardware an ideal target market, since it can exploit recent advances in low-power wireless chipsets, materials, and microelectromechanical systems, or MEMS. A device designed to monitor a diabetic patient, for instance, might trigger a bedside alarm for spikes in blood sugar levels, send continuous data to a doctor, or both.

"HMOs are looking for ways to proactively manage individual diseases like congestive heart failure and diabetes," Mulloy says. "These kinds of devices take us toward that."

What he'll invest: $10 million over three years for a functioning prototype, software to manage wireless data, and early-stage trials

Send your pitch to: lmontilla@hcp.com. -- M.V.C.