Olive Diagnostics Receives European CE Mark for its Cutting Edge AI-based Urine Analysis
JERUSALEM, Oct. 3, 2022 /PRNewswire/ -- Olive Diagnostics, an IoMT MedTech startup that uses AI for 100% passive urine analysis, announced that it has received the CE Mark in Europe for the Olive KG, the world's first hands-free, non-invasive, AI-based optical device for 100% passive and seamless urinalysis, which mounts on any toilet.
Olive KG performs high quality analysis of important parameters in the patients' urine in each urination without user intervention. The user does nothing more than urinate in the toilet the same way they have been their whole lives. Among other parameters, the device measures red blood cells, proteins, Nitrites, pH levels, alongside features such as volume, pressure, color, and frequency of urination. The device uses optics to detect the molecular components in the urine, and generates real-time personal data, secured according to GDPR and HIPPA requirements, which are sent to the cloud and then to the treating physician. The company is also in the pre-submission phase for the FDA in the United States.
Olive Diagnostics is selling its devices today through assisted living facilities, outpatient facilities, and telemedicine providers in Europe to present parameters that can be used to diagnose the development of diseases early on. This will directly reduce operating costs by reducing hospitalizations. The KG can also provide family members and caretakers remote medical information to detect the risk of conditions such as dehydration and provide insights regarding bowel movements.
The continuous monitoring nature of Olive Diagnostics' device alerts users to pre-symptomatic issues, sometimes weeks before symptoms and the appearance of conditions including urinary tract infection (UTI) and kidney stones. When the risk of a condition like UTI is flagged, prophylactics can be administered, a capability which may reduce the likelihood of hospitalizations. For men, kidney stones can be detected weeks before the onset of painful symptoms so that they can easily be treated before hospitalization is required. This makes the startup's device a critically important tool for the elderly, where early detection can improve the quality of life and of level of care.
"The milestone of receiving the CE Marking provides validation for our vision and technology and paves the way for us to enter the European market," said Guy Goldman, CEO of Olive Diagnostics. "Olive KG is already installed at several assisted living facilities in Holland, and we believe that our device will transform medical care to one of non-invasive prevention, aiding patients and healthcare providers to detect diseases earlier, even before symptoms appear."
About Olive Diagnostics
Olive Diagnostics was founded in 2019 by Guy Goldman (CEO) and Corey Katz. The startup's team includes experts in Biochemistry, Chemistry, Physics, Data Analytics, Optics, and business development for the health and wellness markets. Olive Diagnostics is also in the FDA pre-submission phase for the United States.
The company has raised seed financing of $7.3 million, after recently raising an additional $1.5 million from existing investors and private investors. The investors in the pre-seed stage include Israeli HMO Maccabi Healthcare Services, Mayo Clinic, eHealth Ventures, Amgen Ventures, The Israel Innovation Authority, alongside private European and American private investors.
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Media contact:
Amir Ben Artzi
Meirovitch PR
amir@meirovitch.com
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SOURCE Olive Diagnostics
