Ambulatory cardiac monitoring: Icentia’s CardioSTAT reaches 100 000 tests

Icentia, a Canadian company that specializes in medical devices, has delivered its 100 000th CardioSTAT test.

For Icentia, such a milestone reflects the relevance of its ambition: Since it launched the test in 2015, it has worked to simplify heart rhythm anomaly detection for patients in Canada and the United Kingdom. As a symbolic aspect of this success, the 100 000th test was recorded with a patient at the renowned Quebec Heart and Lung Institute (IUCPQ), which has partnered with Icentia in the development of this innovation since 2013.

Designed and made in Canada, CardioSTAT is an electrocardiography (ECG) device that enables simple, long-term and high-quality recordings. Worn on the upper chest, it can produce up to 14 days of data. This can enable medical practitioners to detect heart anomalies that are generally difficult to identify, such as atrial fibrillation, which affects from 1% to 3% of the world population (up to 9% of people aged over 65 and 17% of people over 80). Discrete and comfortable, CardioSTAT is a viable alternative for patients and doctors to the conventional test (the Holter test), usually limited to 48 hours. Since the Covid-19 pandemic, patients can also implement the CardioSTAT test directly at home, avoiding hospital visits and reducing contamination risks, as well as the medical staff’s workload.

CardioSTAT is now used by hundreds of health institutions in Canada and the United Kingdom. Icentia and its 120 employees are proud of this international recognition, at a time when the company considers expanding to other countries.

Firmly positioned in a rapidly growing wearable devices industry, Icentia was part of the Globe and Mail’s top growing companies list in Canada for a third consecutive year in 2021. 

“Reaching 100 000 CardioSTAT tests is a great economic success, but especially human, as this milestone means we have helped as many patients. We are working hard to assist many more in the years to come,” says Pierre Paquet, cofounder and CEO of Icentia.

About the Quebec Heart and Lung Institute

The Quebec Heart and Lung Institute (IUCPQ) is a leader in its field. The university hospital offers care, specialized services and ultra-specialized services programs to treat cardiopulmonary diseases and illnesses linked to obesity. More specifically in the field of cardiology, the IUCPQ has the highest clinical volume in tertiary cardiology on a single site in Canada, in addition to pioneering in several other key elements, such as cardiac electrophysiology.

Icentia Named One of Globe and Mail’s Top Growing Companies in Canada for a Third Consecutive Year

Icentia, a fast-growing medtech company, secured a spot on Globe and Mail’s annual list of Canada’s Top Growing Companies, becoming one of the few companies to be listed in this ranking for a third year in a row.

Icentia placed in the first quartile of the 448 companies on the 2021 list, this time with a 524% revenue increase over the past three years.

“I am extremely proud that the success of Icentia has been recognized again this year.” says Pierre Paquet, CEO of Icentia. “Not only have we been able to get through the pandemic, but we continued to grow through it by quickly adapting our offering to the new challenges healthcare institutions are facing. This is a testament to the value we bring to the healthcare industry by listening to our clients and constantly adapting to their evolving needs.”

Launched in 2019, the Canada’s Top Growing Companies editorial ranking aims to celebrate entrepreneurial achievement in Canada by identifying and amplifying the success of growth-minded, independent businesses in Canada. It is a voluntary program; companies complete an in-depth application process to qualify. In total, 448 companies earned a spot on this year’s ranking.

 The full list of 2021 winners and accompanying editorial coverage is published in the October issue of Report on Business magazine—out now—and online.

 “As we look toward the future, Canada’s Top Growing Companies offer both inspiration and practical insights for other firms facing similar challenges,” says James Cowan, Editor of Report on Business Magazine. “The entrepreneurs behind these companies are smart, tenacious, and unwavering in their commitment to their goals.”

 “Any business leader seeking inspiration should look no further than the 448 businesses on this year’s Report on Business ranking of Canada’s Top Growing Companies,” says Phillip Crawley, Publisher and CEO of The Globe and Mail. “Their growth helps to make Canada a better place, and we are proud to bring their stories to our readers.”

Home-based Heart Monitoring Now Available to All Canadians Through Icentia

CANADIAN COMPANY DRIVES AT-HOME CARDIAC MONITORING NATIONWIDE DURING PANDEMIC

Icentia Inc. will be providing a new home-based service nationwide that will enable patients with heart rhythm disorders to have access to an ambulatory cardiac test from the safety of their homes while the pandemic surges on.

Icentia enables at-home tests through its CardioSTAT® device, a Canadian designed and manufactured, proven alternative to traditional Holter monitor tests. Since its introduction in 2015, the CardioSTAT test has become the tool of choice for hundreds of physicians across Canada and the United Kingdom for the detection of heart rhythm disorders.

This inventive and life-saving solution is now being implemented nationally for at-home tests in much needed times.

As the pandemic rages on, wait times in the Canadian healthcare system are becoming a serious issue. Backlogs for all procedures, including ECG monitoring, continue to grow. Social distancing and contamination risk requirements have increased the burden on hospitals and clinics, bolstering the demand for home-based tests. “The pandemic is forcing our healthcare system to evolve and adapt. This smart and accurate cardiac monitoring technology is what Canadians need right now to stay safe and keep healthy,” explains Dr. Marko Mrkobrada, Internist, London Health Sciences Centre, London, ON.

This new home-based solution, where no visit to health care facility for hook up or device return is required, promises to lighten the load on medical staff while also increasing safety for all. “We are glad to relieve some of the pressure on our healthcare system and to contribute to more safety through our home-based, patient-initiated tests. CardioSTAT test, which has proven to be easy to use, reliable and safe over the past years, makes even more sense in today’s context,” says Icentia CEO Pierre Paquet.

Icentia Is Part Of Canada’s Top Growing Companies Ranking For The Second Year in a Row

Icentia Inc. is pleased to announce it placed No. 28 on the 2020 Report on Business ranking of Canada’s Top Growing Companies. Canada’s Top Growing Companies ranks Canadian companies on three-year revenue growth. Icentia earned its spot with three-year growth of 1,998 %.

“We are proud to be one of the "Canada’s Top Growing Companies" for the second year in a row. This is a great recognition to us of our determination to excel in the quality of our products and in the support we provide to all of our customers around the world. ” explains Mr. Pierre Paquet, co-founder and CEO of Icentia. "This sustained growth is also the confirmation that Icentia has understood the needs of the market for ambulatory tests and home care, sectors for which the demand for efficient solutions is constantly increasing. ”

Launched in 2019, the Canada’s Top Growing Companies editorial ranking aims to celebrate entrepreneurial achievement in Canada by identifying and amplifying the success of growth-minded, independent businesses in Canada. It is a voluntary program; companies had to complete an in-depth application process in order to qualify. In total, 400 companies earned a spot on this year’s ranking. 

The full list of 2020 winners, and accompanying editorial coverage, is published in the October issue of Report on Business magazine—out now—and online at tgam.ca/TopGrowing.

“The stories of Canada’s Top Growing Companies are worth telling at any time, but are especially relevant in the wake of COVID-19 pandemic,” says James Cowan, Editor of Report on Business magazine. “As businesses work to rebuild the economy, their resilience and innovation make for essential reading.”

“Any business leader seeking inspiration should look no further than the 400 businesses on this year’s Report on Business ranking of Canada’s Top Growing Companies,” says Phillip Crawley, Publisher and CEO of The Globe and Mail. “Their growth helps to make Canada a better place, and we are proud to bring their stories to our readers.”

About The Globe and Mail

The Globe and Mail is Canada’s foremost news media company, leading the national discussion and causing policy change through brave and independent journalism since 1844. With award-winning coverage of business, politics and national affairs, The Globe and Mail newspaper reaches 5.9 million readers every week in print or digital formats, and Report on Business magazine reaches 2.1 million readers in print and digital every issue. The Globe and Mail’s investment in innovative data science means that as the world continues to change, so does The Globe. The Globe and Mail is owned by Woodbridge, the investment arm of the Thomson family.

Icentia Concludes New Financing Round Led by Crédit Mutuel Equity

The Québec company specializing in the development of innovative solutions for medical testing is pursuing its international growth strategy

Icentia is proud to announce the completion of its latest round of financing to accelerate its international growth. The financing was led by the North American venture capital arm of Crédit Mutuel Equity (formerly CIC Capital), the private equity subsidiary of one of France’s largest banking groups, Crédit Mutuel Alliance Fédérale. Investissement Québec and private investors also participated in the financing.

 “As we aim to become the global benchmark in electrophysiological data monitoring within a few years, this new round of financing will allow us to pursue our ambitious growth plan in Europe as well as internationally. We are privileged to be able to count on the expertise and global reach of Crédit Mutuel Equity along with their financial support,” said Pierre Paquet, President and CEO of Icentia.

 “We are proud to partner with the Icentia team, which is the Canadian reference in cardiac data capture and processing to the greater benefit of patients. Icentia already has a strong track record of growth. As a value-added partner, we aim to contribute to accelerating its international marketing phase, especially in Europe,” said Ludovic André, Managing Director, Venture Capital, Crédit Mutuel Equity.

 As the manufacturer of innovative medical devices, including CardioSTAT, Icentia’s mission is to help doctors identify early and accurate warning signs of potential heart problems.

 Icentia, headquartered in Québec City, employs over 85 people and recently opened an office in the United Kingdom. The company is ranked No. 48 in TheGlobe and Mail’s Report on Business list of Canada’s Top Growing Companies, with growth of 1,137% over three years.

About Crédit Mutuel Equity

Crédit Mutuel Equity is the private equity arm of Crédit Mutuel Alliance Fédérale, which encompasses its venture capital, growth capital and buyout activities.

 Crédit Mutuel Equity supports business leaders at all stages of their companies’ development, from seed phase to buyout, by providing them with the means and the time required to implement their transformational projects. Crédit Mutuel Equity brings together a network of over 350 business leaders and entrepreneurs that share similar convictions and that can benefit from each other’s experiences, no matter the nature of their projects. Investing its own funds (€3.0 billion), Crédit Mutuel Equity’s investments are tailored to the time horizons and growth strategies of the companies in which it invests, whether in France, Canada, the United States, Germany or Switzerland.

Quebec Grants Nearly $ 1.2 Million To Icentia To Support The Marketing Of The CardioSTAT Test

The Quebec government is providing Icentia with financial assistance of $ 1,151,500 in the form of a loan under the Biomed Propulsion program, administered by Investissement Québec. The company will be able to accelerate the commercialization of the CardioSTAT test in Canada and the United Kingdom, in addition to attacking new markets.

Vanier-Les Rivières deputy Mario Asselin made the announcement today on behalf of the Economy and Innovation Minister and Responsible Minister for the Lanaudière region, Pierre Fitzgibbon.

The CardioSTAT test is based on a portable wireless ECG recorder that provides continuous monitoring for up to 14 days. The small device allows an accurate diagnosis of cardiac abnormalities without interfering with the patient in his daily activities.

Quotes:

"The life sciences represent one of the most dynamic industries in the Capitale-Nationale, where companies from the Quebec VITAE niche of excellence are grouped together. Icentia is one of them, and the Government of Quebec is pleased to help this flagship of our local economy to continue its international growth. I am even more proud that the investment announced today will create around thirty quality and well-paid jobs. "

Mario Asselin, Deputy for Vanier-Les Rivières

"Collaboration between businesses, universities and research centers is one of the keys to stimulating innovation in Quebec. Icentia’s success stems, among other things, from its collaboration with the Quebec Heart and Lung Institute, which made it possible to design this very light heart rate monitor. The team also works with the Quebec Institute of Artificial Intelligence, MILA, for the continuous improvement of its data analysis software. Stimulating innovation and increasing exports are two of our priorities as a government, and the Icentia project is fully in line with our objectives. "

Pierre Fitzgibbon, Economy and Innovation Minister and Responsible Minister for the Lanaudière region

"The CardioSTAT test is an exemplary innovation that allows us to collect crucial information over a longer period of time in order to effectively detect heart problems and prevent their consequences. Our government is committed to supporting the implementation of such innovative projects, which help improve the daily quality of life for many people. "

Danielle McCann, Health and Social Services Minister

“A long-standing partner of the company, Investissement Québec is proud to renew its confidence in Icentia, a player with high potential in the medical technology sector, so that it benefits from the flexibility necessary to develop new markets and consolidate its position, in Quebec and abroad, all in order to accelerate its growth. "

Guy LeBlanc, President and CEO of Investissement Québec

Highlights:

• Founded in 2012, Icentia specializes in the development of medical devices and analytical services. The company offers a range of innovative medical tests for healthcare facilities.

• Last September, Icentia ranked 48th among the 400 fastest growing Canadian companies according to the Globe and Mail. The ranking is based on growth in business revenues over the past three years.

• The main objective of the Biomed Propulsion program is to financially support Quebec companies with high growth potential in the life sciences sector, in order to encourage them to commercialize the results of their research, while favoring the contribution of private investors.

Icentia places No. 48 on The Globe and Mail’s brand-new ranking of Canada’s Top Growing Companies

Icentia Inc. is pleased to announce it placed No. 48 on the inaugural Report on Business ranking of Canada’s Top Growing Companies. Canada’s Top Growing Companies ranks Canadian companies on three-year revenue growth. Icentia earned its spot with three-year growth of 1,137%.

“Achieving such a high growth has a lot to do with our strong focus on individuals. Primarily, the patients and caregivers, who are our prime source of inspiration and feedback in designing the right products. Also, the people who joined our ranks and bring to work every day their passion, their team spirit and their commitment towards our mission,” says Icentia’s co-founder and Chief Executive Officer, Mr. Pierre Paquet. “Our success is due to the right value proposition combined with a strong team that supports our patients and clients”. 

Launched in 2019, the Canada’s Top Growing Companies ranking program aims to celebrate entrepreneurial achievement in Canada by identifying and amplifying the success of growth-minded, independent businesses in Canada.  “We created the Canada’s Top Growing Companies program because we believe there is much Report on Business readers can learn from the successes of the country’s best entrepreneurs,” says Derek DeCloet, Editor of Report on Business and Executive Editor at The Globe and Mail. “We’re excited to be telling their stories.”

“The 400 companies on the inaugural Report on Business ranking of Canada’s Top Growing Companies ranking demonstrate ambition, innovation and tremendous business acumen,” says Phillip Crawley, Publisher and CEO of The Globe and Mail. “Their contributions to the economy help to make Canada a better place, and warrant commendation.”

About The Globe and Mail

The Globe and Mail is Canada’s foremost news media company, leading the national discussion and causing policy change through brave and independent journalism since 1844. With our award-winning coverage of business, politics and national affairs, The Globe and Mail newspaper reaches 6.6 million readers every week in our print or digital formats, and Report on Business magazine reaches 1.8 million readers in print and digital every issue. Our investment in innovative data science means that as the world continues to change, so does The Globe. The Globe and Mail is owned by Woodbridge, the investment arm of the Thomson family.

Icentia wins le Prix Innovation | Sciences de la Vie of ADRIQ

Icentia is proud to announce that it has been awarded the 2017 Prix Innovation | Sciences de la Vie of the Association pour le développement de la recherche et de l’innovation du Québec (ADRIQ) as part of the 27th edition of the Gala des Prix Innovation.

“The spirit of innovation and the constant desire to excel in everything we do; These are two elements that have been the basis of Icentia's success. It's an honor for all our employees to have their work recognized with the Prix Innovation | Sciences de la Vie” commented Mr. Pierre Paquet, CEO and co-founder.

It is in front of 465 decision-makers that Icentia was congratulated for its achievements and its remarkable contribution to the advancement of innovation in Quebec.

Launched in 2015, the Prix Innovation | Sciences de la Vie recognizes the innovative approach of companies in the sectors of biotechnology, life sciences and health technologies in Quebec. It is awarded to companies that play a key role in the growth of the Quebec biotechnology and life sciences industry in general.

About the ADRIQ

The Association pour le développement de la recherche et de l’innovation du Québec (ADRIQ) has led, for more than 30 years, an influential business network to support technological innovation in Quebec and foster partnerships between decision-makers. The ADRIQ brings together more than 3,000 organizations, among which are the leaders of all industrial sectors engaged in a significant effort of technological innovation.

The CardioSTAT® Monitor Chosen for Long-Term ECG Monitoring for NeuroVISION Study

Dr. Philip J. Devereaux from the Michael G. DeGroote School of Medicine at McMaster University and Dr. Marko Mrkobrada from the Schulich School of Medicine and Dentistry at Western University had the choice of several technologies to conduct their multicentre study attempting to understand the links between noncardiac surgeries and stroke. Among other things, they needed to find an effective, user-friendly method of determining the prevalence of atrial fibrillation (AF) before surgery as well as the incidence of the same arrhythmia after surgery.

For Dr. Mrkobrada, it was the easiest of choices: “After several weeks of use in a clinical context, I have been more than satisfied with the results obtained with CardioSTAT. Due to its ability to record high-quality ECG signals over a long period, it proved to be effective in detecting AF. Moreover, its small size and comfort will facilitate recruiting the hundreds of subjects needed for our study.”

Designed to be invisibly worn under clothing, the CardioSTAT monitor is a thin, flexible strip designed to be worn on the upper chest. Comfortable both at night and during the day, it can be worn during physical activity and in the shower. CardioSTAT enables lengthened monitoring periods extending over several weeks, which increases the detection rate of heart rhythm abnormalities.

NeuroVision is the largest study ever carried out to understand the links between noncardiac surgery and stroke. It is a worldwide study involving centres around the world including London, Hamilton and Vancouver in Canada, Madison WI (USA),  Bangalore (India), Hong Kong, Auckland (New Zealand), Krakow (Poland), Santiago (Chile) and Lima (Peru). 

More information about the NeuroVISION study.