SAN DIEGO, Dec. 5, 2011 /PRNewswire/ -- Qualcomm Incorporated (NASDAQ: QCOM) announced today the formation of a wholly owned subsidiary, Qualcomm Life Inc., which will operate the business formerly known as Qualcomm Wireless Health, as well as the establishment of a $100 million Qualcomm Life Fund, an investment allocation established by Qualcomm Incorporated and to be managed by Qualcomm Ventures, Qualcomm's investment group. Qualcomm Life's first offerings, the 2net™ Platform and Hub for use in connection with wireless medical devices, are now available in the U.S. and are designed to interconnect wireless medical devices via cloud-based solutions so that biometric information is easily accessible by device users, their health care providers and caregivers. The platform and hub are intended to transfer, store, convert and display medical device data. The Company also announced that more than 40 customers and collaborators are either integrating with or considering the 2net ecosystem, creating an interoperable and value-enhancing ecosystem of medical devices, mobile medical applications and health services companies. Qualcomm Life is showcasing the 2net Platform, Hub and its integrated customers' devices and applications at the third annual mHealth Summit, being held at the Gaylord National Resort and Convention Center in Washington, D.C. (Pavilion #403).
"Qualcomm Life was founded, in part, to assist medical device manufacturers who approached Qualcomm for help when their own wireless connectivity attempts became untenable due to technology selection errors, unscalable deployment models and prohibitively high operational support costs," said Rick Valencia, vice president and general manager of Qualcomm Life. "Our services, including integration on the 2net Platform, remove the burden for medical device manufacturers of a large technical development effort, providing integration with mobile carriers and solving the operational complexities of supporting wireless medical device data in the field."
"We believe the 2net Platform and Hub's promotion of medical device connectivity will enable a sea change in health care, where we observe stressed medical systems burdened by a mounting prevalence of chronic disease," stated Don Jones, vice president of global strategy and market development for Qualcomm Life. "Already, several members of the 2net ecosystem are able to provide remote monitoring functionality for chronic disease management, enhancing the quality of care for their patients."
The 2net Platform makes it easy for companies to connect wirelessly to their medical devices so that data can be made available across the continuum of care. Data is obtained from a patient's medical device through several gateways, such as the 2net Hub, a mobile phone, another cellular-enabled device or application programming interfaces that connect to the customer service platform. Once the data is acquired from the medical device, it is encrypted and then stored in the 2net Platform over a cellular connection. After the 2net Platform has received the transmission, patient medical device data is transferred to the manufacturers' interface of choice for the end-user. The 2net Platform is designed to meet HIPAA security requirements and is ISO 13485 certified, meaning it aligns with the quality requirements of U.S. and international regulatory agencies in the health care industry.
The 2net Platform and Hub are individually listed with the FDA as Medical Device Data Systems (MDDS). The 2net Hub plugs into a standard electric outlet and seamlessly connects to integrated partner medical devices via shortwave radio, uploading biometric data over the cellular network to the 2net Platform's data center, where it can be transferred to the manufacturer-chosen interface, for access by the user. The 2net Hub provides a plug-and-play connectivity solution for medical device manufacturers looking for quick and simple solutions to integrate their devices with the health network and it enables health care services companies to kit together disease management solutions based on multiple medical devices that can communicate with one another and with a single user interface for patients, their providers and caregivers.
"Qualcomm Life's 2net Platform will expand our ability to connect patients with caregivers, family and clinicians by providing a direct wireless connection within every home," stated Richard Strobridge, chief executive officer of Entra Health Systems. "Integration with the 2net ecosystem will open up new markets for MyGlucoHealth Wireless blood glucose meter and diabetes management system within senior care, home health care and assisted living where patients have limited access to wireless technology."
More than 40 medical device manufacturers, application developers, health care services companies and payors are either integrating with or considering the 2net ecosystem. Qualcomm Life will showcase a broad array of the possibilities for 2net-enabled solutions at the mHealth 2011 conference in Washington D.C., including those being developed by:
A&D Medical, Advanced Warning Systems Inc., AirStrip Technologies Inc., Asthmapolis, AT&T, BiancaMed, BodyMedia, Emergency Medical Services Corporation®, Entra Health Systems, Ingram Micro Inc., MidMark Corporation, Hello Health Inc., Nonin Medical Inc., Numera™, ResMed, U.S. Preventive Medicine® and Venture Corporation Limited.
Qualcomm Life Fund
The mission of the Qualcomm Life Fund is to accelerate wireless health services and technology adoption. The Qualcomm Life Fund will be part of the existing allocation for Qualcomm Ventures, but will specifically focus on wireless health business initiatives that will help accelerate 2net Platform adoption and the adoption of other wireless health initiatives. The fund size is currently $100 million. Qualcomm Ventures has already invested in five wireless health companies—Sotera Wireless, Telcare, AliveCor, Cambridge Temperature Concepts and WorkSmart Labs—and these investments will be part of the fund. The areas of specific interest to the fund range from personal wellness to disease management. Investments are expected to be made in a variety of areas, including:
•Biosensors or devices for vertically focused applications like chronic disease care, medication compliance and fitness or wellness
•Integrated system providers that provide remote diagnosis or monitoring, or that specialize in independent living
•Software health IT applications
About Qualcomm Life
Qualcomm Life is defining and connecting the wireless health network to improve lives and advance the capabilities of medical devices. Qualcomm Life is focused on device connectivity and data management and empowers medical device manufacturers to deliver wireless health quickly and easily to those who need it. The Qualcomm Life team has the experience and the wireless know-how to make the enormous complexities of a wireless connection look simple. We draw from our parent company's more than 25 years of wireless connectivity experience, know-how and universal interoperability to enable unified machine-to-machine (M2M) communications. To learn more, please visit www.qualcommlife.com.
Qualcomm Incorporated (NASDAQ: QCOM) is the world leader in 3G and next-generation mobile technologies. For more than 25 years, Qualcomm ideas and inventions have driven the evolution of digital communications, linking people everywhere more closely to information, entertainment and each other. For more information, visit Qualcomm's website, OnQ blog, Twitter and Facebook pages.
Qualcomm is a registered trademark of Qualcomm Incorporated. 2net and Qualcomm Life are trademarks of Qualcomm Incorporated. All other trademarks are the property of their respective owners.
Qualcomm Contacts:Emily Kilpatrick, Corporate CommunicationsPhone: 1-858-845-5959Email: email@example.com
Jamie Eisinger, Qualcomm LifePhone: 1-858-845-1033 Email: firstname.lastname@example.org
Warren Kneeshaw, Investor RelationsPhone: 1-858-658-4813Email: email@example.com
SOURCE Qualcomm Incorporated