Archive for September 2017

CSIRO CEO Larry Marshall and Uniseed CEO/Cardihab board member Peter Devine interviewed in the Australian Financial Review regarding Cardihab’s capital raise.

Brisbane, Australia, September 19th 2017: An Australian solution to dramatically improve recovery from a heart attack today became reality.

Cardihab’s technology platform was developed by scientists at the Australian eHealth Research Centre (AEHRC), a joint venture between CSIRO and the Queensland Government. Cardihab was spun-out from CSIRO after raising venture capital investment of $1.35 million in the new company.

In Australia someone has a heart attack every nine minutes, however less than one third of survivors follow through with cardiac rehabilitation, resulting in up to a 50% chance of being readmitted to hospital in the following year.

Cardihab is a smartphone app connected to a clinic based portal, used for remote patient management following a cardiac event. The app gives clinicians the ability to deliver more convenient, flexible and engaging cardiac rehabilitation meaning better outcomes for patients, clinicians and health service administrators.

Cardihab’s model of care is backed by a randomised control trial that was conducted by CSIRO and the Metro North Brisbane Health and Hospital Service, and published in the international journal Heart. The trial demonstrated that the Cardihab model of care was clinically equivalent to normal care, but significantly improved patient uptake, adherence and completion of cardiac rehabilitation.

Cardihab was able to demonstrate there was no additional benefit for patients who receive face to face care, compared to patients whose cardiac rehabilitation was carried out by a clinician remotely.

Cardihab Chief Technology Officer Simon McBride was part of the team that has been developing and trialling the technology while undertaking research at the AEHRC. “Today’s investment gives us the platform on which to build the company and make a difference to the lives of millions of Australians,” McBride said.

Of the $1.35million invested in Cardihab, $500,000 has come from Uniseed, a venture fund operating at the Universities of Melbourne, New South Wales, Sydney, Queensland and CSIRO.

The remaining investment is made by private cardiology groups, and existing Cardihab shareholder Slingshot Investments as manager of the Slingshot Venture Fund.

Cardihab benefited from participation in CSIRO’s AcceleratiON and Slingshot’s HCF Catalyst accelerator programs and is led by recently appointed CEO Gus Taddeo, who was formerly Managing Director of Cook Medical Australia.

-ENDS-