LOS ANGELES, September 30, 2020 – MedTech Innovator, the largest accelerator of medical devices in the world, and AdvaMed Accel, the leading advocacy association for emerging medtech firms, today announced that Vena Vitals has been awarded the 2020 MedTech Innovator Execution Award and the Virginia Shimer Rybski Memorial Award. Both awards recognize the potential of an up-and-coming entrepreneur or entrepreneurial medical technology company. The recipient was chosen today via an online audience vote during The Virtual MedTech Conference, the largest online gathering of medtech industry leaders in North America powered by AdvaMed.
Vena Vitals, a medical technology startup based in Irvine, Calif., is developing a continuous non-invasive blood pressure monitor in the form of a soft flexible sticker.
“We are proud to present Vena Vitals with the 2020 Execution Award for their pioneering work in non-invasive blood pressure monitoring,” said Paul Grand, MedTech Innovator CEO. “The Vena Vitals team has demonstrated exceptional leadership and progress in their goal of developing a device that provides a more comprehensive understanding of cardiovascular health. All six finalist companies show great promise in transforming the lives of patients and the health care system as a whole, and we look forward to following their continued progress in the future.”
“The Vena Vitals team exemplifies the dynamic and entrepreneurial spirit of the medtech industry and its commitment to make a lasting impact on patient care,” said Scott Whitaker, president and CEO, AdvaMed. “The need for high-value innovation is more evident now than ever. Vena Vitals is poised to make a difference for patients with cardiovascular conditions, and we are pleased to recognize the company for their hard work and dedication to bettering patient lives through innovation.”
The Execution Award, presented jointly by AdvaMed Accel and MedTech Innovator, recognizes strong leadership teams with next-generation innovations and the resources to successfully execute on their goals of improving patient care.
The Virginia Shimer Rybski Memorial Award was created to encourage the enthusiastic pursuit of business excellence in the medical technology industry. It is named after the late entrepreneur and patient care advocate Virginia Rybski, president & CEO of Regenesis Biomedical and a member of AdvaMed’s Board of Directors and the association’s Accel Executive Committee, who passed away in 2013. The award is presented each year during the association’s annual meeting to a single presenting company or entrepreneur.
“We’re extremely honored to be voted as the winner of the Execution Award & Virginia Rybski Memorial Award, especially among such an incredible field of high performing companies in this year’s MedTech Innovator Program” said Ray Liu, CEO and co-founder, Vena Vitals. “It’s such a privilege to have received outstanding mentorship and resources from industry leaders including Nipro, Edwards, Fujikura, Proxima, and the AdvaMed community – we’re thrilled to continue our journey to improve patient lives through better blood pressure monitoring.”
This year’s award includes a $12,000 grant from AdvaMed Accel and a $15,000 prize from MedTech Innovator to be applied towards expenses required for commercializing an innovative medical technology. Additionally, the winning company receives a profile in MedTech Strategist and will also receive a complimentary one-year membership with AdvaMed and full-access registration to The MedTech Conference in 2021. In addition to this year’s winning company, finalists included: Aksense, Envision Endoscopy, Forcen, MOWOOT, and Puzzle Medical.
About MedTech Innovator
Based in Los Angeles, Calif., MedTech Innovator is the largest accelerator of medical device companies in the world and the premier nonprofit startup accelerator in the medical technology industry.[i] Its mission is to improve the lives of patients by accelerating the growth of companies that are transforming the healthcare system. MedTech Innovator matches healthcare industry leaders with innovative early-stage and emerging growth medtech companies for mentorship and support.
MedTech Innovator’s founding sponsors are Johnson & Johnson and RCT Ventures. Annual program sponsors include Baxter, NIPRO Medical Corp., Olympus Medical Systems Group, W. L. Gore & Associates, Inc., Asahi Intecc, Edwards Lifesciences LLC, Fujikura Ltd., Jabil Healthcare, Maxim Integrated Ventures, EdgeOne Medical, Experien Group, Greenlight Guru, Proxima Clinical Research, Westwood & Wilshire, and Ximedica. The organization’s industry partners include AdvaMed, Health+Commerce, MedTech Strategist, and Wilson Sonsini Goodrich & Rosati.
For more information about MedTech Innovator, visit https://medtechinnovator.org/ and follow @MedTechAwards on Twitter. To receive industry insights and highlights about MedTech Innovator’s current and alumni participant companies, subscribe to its monthly newsletter.
About AdvaMed Accel
AdvaMed Accel is the division within Advanced Medical Technology Association (AdvaMed) dedicated to addressing the unique needs and challenges of smaller medical device and diagnostics manufacturers – the lifeblood of the medical technology industry. The only organization of its kind focusing specifically on the needs of the medtech industry’s emerging growth companies, AdvaMed Accel works to create a policy environment more conducive to capital formation and innovation. For more information, visit www.advamedaccel.org.
[i] Gibbs, M., Johnson, B., Silva, B. A., & Berube, K. (2020, July 10). Q2 2020 Life Science Accelerators Insights Cipher Bio. Retrieved September 15, 2020, from https://www.cipherbio.com/blog/life-science-accelerators-insights/