Olive Diagnostics, developer of the world’s first optical sensor for passive and seamless uranalysis technology at home, begins a round of funding led by the Maccabi Foundation. The strong vote of confidence from the healthcare sector sends a clear signal of the need for the company’s non-invasive urinalysis device and data.
“Taking our next step in building the #UriNation we will see our devices in aged care homes around the world!” said Guy Goldman, Founder and CEO of Olive Diagnostics. “One might say ‘ur-ine luck’ with the volume of data that is seamlessly collected before a user can even flush! We are bringing home-based, remote monitoring into the digital age and allowing users to better manage chronic illnesses through the continuous detection of urine-based bio markers. We are proud and thrilled that our investors have recognized the golden opportunity.”
With a potential market of every active toilet user wishing to monitor their health, Olive Diagnostics expects its devices to initially hit elder care homes and women’s health clinics by the end of 2021, with unprecedented potential for expansion throughout Aged-Care systems and individual homes around the world.
Olive Diagnostics’ technology passively collects molecular and volumetric data via real time spectroscopy of the user’s urine stream. The data available in urine (biochemistry, minerals, vitamins, pH and more) is critical to patient health and central to medical diagnostics. The solution will bolster early detection and accurate early intervention to help combat rising healthcare costs and improve user’s quality of life.
“The innovation and potential that will be introduced with this technology is endless. When we consider the vast amount of information available in urine, it becomes obvious that this is a major area of opportunity for improvement,” said Dr. Joseph Rosenblum CMO eHealth Ventures. “Olive’s sophisticated technology, which delivers instant molecular detection of a moving urine stream, provides an innovative new direction and will make the current modes of spot testing via cumbersome cup-paper-dipstick obsolete,” added Dr. Rosenblum.