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Invest in Shift Labs

We enable access to safe and affordable infusion therapy for anyone, anywhere.

Highlights

1
First-to-market infusion monitor to measure the rate of intravenous infusions, a.k.a. IV’s.
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Portable, battery-powered, used in hospitals, by emergency responders and in patients' homes.
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Sold and used in dozens of countries with strong reference customers across multiple industries.
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Adopted by Global Health organizations for use in response to recent COVID-19 and Ebola outbreaks.
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Regulatory validation as the only infusion monitor with FDA clearance and ISO 13485 certification.
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Strong IP protection, with 5 patents issued in the U.S. and 1 pending.
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Two non-dilutive gov't grants to support product innovation: USAID - $254,000 and AFWRX - $879,800.
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Clinical validation shows improved accuracy of infusion and reduction of frequency of side effects.

Our Team

Our initial vision was to provide access to safe and accurate IV medication administration to under-served, low-resourced regions, which is essential to ensure the obtainment of the highest possible care to all people. Our team is driven to ensure critical medications can continue to be safely and affordably administered to anyone, anywhere.

The Pitch We Enable Safe and Accurate Infusion Therapy for Anyone, Anywhere!

As the US healthcare industry quickly shifts to a value-based care model, home infusion has become the preferred method to receive common medications.  

This $25 billion industry relies on infusion pumps or gravity-based IV to deliver treatment, however pumps are expensive and difficult to maintain and gravity IV can be very inaccurate.  As a result, too many patients do not have access to safe, affordable, and accurate infusion care.  

This is where Shift Labs comes in.  Our DripAssist Infusion Rate Monitor provides the most accurate and simple monitoring of gravity IV infusion, ensuring medications can be precisely and safely administered in any environment.

We are a company driven by innovation to ensure all people have access to the highest quality of infusion care.  As more and more medications are being infused outside of hospitals, we saw the need to provide a solution to remove the complexity and cost of infusion pumps from the process and enable nurses to never have to manually count drops again.  

The result is the DripAssist Infusion Monitoring platform, an award-winning solution to monitor gravity IV infusions safely and accurately.  As the first to market and only FDA-cleared gravity infusion monitor, DripAssist delivers proven results that improve the accuracy and reduce the side effects of gravity infusions, leaving patients happier and healthier.

Why the need for DripAssist, now?  It's quite simple - the need to reduce cost and improve safety in home infusion.  Using infusion pumps to deliver medications outside of the hospital is not sustainable.  Pumps are expensive to purchase and maintain and have higher error rates than what many people think.  Using gravity IV to deliver medications is definitely cheaper but comes with its own problems.  If nurses do not constantly monitor flow rates, there is an increased risk of either too little or too much medication being delivered at the proper rate.  Even if the nurse manually monitors the infusion, error rates can be dramatically high.  And neither of these methods connect infusion data to the provider's back-end patient care systems to track the treatment.   

Using DripAssist to monitor gravity IV infusion solves these problems.  

  • DripAssist is highly accurate, with 99% accuracy in detecting infusion drop rates, and is compatible with virtually any size drip set.  
  • DripAssist is a fraction of the cost of infusion pumps, is highly portable and battery-powered, and takes less than 2 minutes to learn how to operate.  
  • And with the soon-to-be-released next generation DripAssist Connect Infusion Monitor, critical infusion data can be remotely monitored and integrated in any format directly into patient care systems. 

Three capabilities are needed to safely administer medications outside of a hospital environment.  

  • First and foremost, the ability to accurately and precisely monitor the critical infusion data, including rates and volumes of medication, in real time without having to rely on manual and error-prone methods.  
  • Secondly, the infusion data that is monitored has to provide immediate insights into what is happening.  Is the medication being administered in adherence with the prescription?  Are alarms available to let the nurse know when an error has occurred so they can fix the problem before any harm comes to the patient?  
  • And lastly, the ability to work simply, without having to adjust current workflows or adopt new complicated technology or spend time maintain complex products.  

DripAssist is the proven solution for simplified IV medication delivery.  Every day, more and more infusion providers are moving away from infusion pumps and adopting monitored gravity IV administration with DripAssist to deliver safe, accurate and affordable infusion treatment.  Keep reading for more details on how DripAssist works!

Innovation has always been at the center of our business, and we are very excited for our next phase of innovation with the upcoming release of DripAssist Connect. This will allow us to quickly deliver the much-needed remote monitoring capabilities of DripAssist to home infusion and alternative site care providers, hospital emergency departments and acute care centers, and even clinical research organizations.

To promote improved patient outcomes, we work with the Advanced Medical Technology Association (AdvaMed) to support their Value Framework for assessing the value of medical technology across the entire healthcare industry, including patients, providers, and payers.

The DripAssist Infusion Monitor Platform directly aligns with this framework to meet the needs of all healthcare stakeholders.

  • We have proven clinical impact that shows gravity infusions monitored with DripAssist improve the accuracy of the infusion and reduced the frequency of side effects in patients, which directly improves patient safety.
  • As infusion medication moves into the home, using DripAssist helps patients receive their medication safely and affordably which makes them happier!
  • DripAssist can directly change how infusion therapy is delivered, by removing the need for expensive and complex infusion pumps for many medications and saving nurses significant time in setting and monitoring infusions.
  • Finally, we are very proud that DripAssist has been adopted by many leading global health organizations to directly provide safe gravity infusion in response to recent pandemics and provide disaster relief.

This quote from New England Life Care perfectly captures the value proposition of DripAssist.  And our customers everywhere share this perspective, and have realized these key benefits to using DripAssist:

  • They immediately reduce their costs. By moving many medications off expensive infusion pumps onto monitored gravity with DripAssist, providers save money and no longer have the burden of maintaining pumps.
  • They improve patient safety. The accuracy of DripAssist gives nurses immediate validation that medication is being always delivered at the correct rates and volumes.
  • Automatically and continuously monitoring infusion rates gives nurses actionable insights into the safety and effectiveness of every infusion treatment.

The cost of manually administering and monitoring gravity IV infusions adds up very quickly. How much costs could actually be saved if the gravity infusion is monitored with DripAssist? DripAssist could reduce the time spent administering and monitoring by 50%, which projects to estimated annual savings of up $60,000 in time spent giving infusions per nurse.

The home infusion market in the U.S. is projected to be huge, $25 billion with strong growth by 2028! Targeted selling to replace ambulatory pumps and augment every gravity IV used in home infusions gives us an initial addressable market of $851 million, and we project strong revenue growth.  With this funding round are ready to build the team to address our immediate opportunity.

There are many factors that will continue to support the growth of our primary market over the next years. The DripAssist infusion monitoring platform will enable us to effectively meet the increasing demand for home infusion services that help reduce the cost of delivering medication to larger populations to treat a growing number of conditions.

Our competitive advantage is that we have the best infusion rate monitor on the market and have created high barriers to entry. DripAssist is more accurate than any competitive product, with a 99% accuracy rate in detecting drops compared to only 90% and below from our competitors.  Additionally, DripAssist Connect will have the most robust remote monitoring and integrate into more patient management systems.

DripAssist is the only infusion rate monitor to receive FDA 510(k) clearance and achieve ISO 13485 certification for our quality management system, which are both crucial to successfully enter the U.S. market.  Combined with our patent protection, we are perfectly positioned to compete in and win the market.

Our business model focuses on selling DripAssist devices and subscription licenses to the infusion data that DripAssist monitors in the U.S. home infusion market. The more we sell DripAssist, the more infusion data we monitor and collect, and make available to our subscription customers. This gives us a double-revenue opportunity to scale the company forward.

Our growth model consists of a combined DripAssist product sales combined with monthly subscription licenses (coming soon with DripAssist Connect!) to the infusion data that is monitored by DripAssist.

* This chart includes forward-looking projections that are not guaranteed.

    We have received strong traction and validation in three key areas:

    • Regulatory: DripAssist is the only infusion rate monitor on the market to have received FDA 510(k) clearance. Additionally, our Quality Management System is ISO 13485 certified, and we have passed multiple quality audits that validate the quality of our manufacturing and operations processes.
    • We have strong intellectual property protections, with 5 issued patents in the U.S. and 1 patent pending to cover the next planned product development, along with 3 international patents. DripAssist is also 100% manufactured in the U.S. And we are very excited to share that we have recently obtained clinical trial data validating that DripAssist improves the accuracy of gravity infusions and reduces the frequency of side effects in patients!
    • DripAssist has been successfully sold in the market for many years across 8 countries and multiple industries with many high-profile customer references. We have achieved strong growth rates and sales margins through 2020 with very little marketing and sales expense, highlighting major inbound demand for DripAssist.

    Our team is unique positioned to win in this market. We have expertise building easy to use medical devices and software platforms, and across the team have over 100 years of experience launching products and scaling companies.

    With our technology validated and our markets proven, we are ready to put into motion the next phase of our growth plan. And with this funding round, we invite you to take ownership in our vision and join us on the journey. Welcome aboard!

    Overview