This is when the idea of creating the stethoscope of tomorrow was born: a solution that replaces subjectivity with objectivity and enhances and filters sound to improve cardiac auscultation. Originally intended for doctors, it gradually became clear that the individual patient is an equally, if not more, important product user.
The digital journey had begun
A range of experts within and outside healthcare services became involved. The development of the product and solution goes on for several years. The technological development of services involving smartphones, apps, cloud services, and wireless solutions become commonplace and benefits what will eventually become the end product.
In 2015, a group of entrepreneurs co-founded and created Coala Life. In a very short time, the Coala Heart Monitor is launched with the possibility of connecting every individual with a doctor through cloud services. Heart and lung screening carried out by the patient in their own home and technology to enhance and filter the sound is the way forward. Patent applications are filed and approved. The technology makes it possible to seriously take on the fight against one of the world’s leading causes of human death – heart disease.
In 2022, Coala Life increased its focus on the US market through the acquisition of Vitrics Management Group, Inc., a service company offering managed Remote Patient Monitoring (mRPM). Remote Patient Monitoring (RPM) is a healthcare model that developed rapidly accelerated by the Covid-19 pandemic. RPM is now reimbursed by all US insurance companies and millions of patients are regularly followed remotely by their healthcare providers. To qualify as an RPM patient, a person must have an acute or chronic medical condition, which over 150 million Americans have.
Through the acquisition of Vitrics and the establishment of our own Managed RPM monitoring center, under the name QorumPartners, Coala Life expands its business in the US. Through QorumPartners, we manage patient monitoring, maintain ongoing patient contact, and ensure correct and regular monitoring. We follow patients 24/7 and report any abnormalities directly to the healthcare provider. We also handle administration and invoicing to the insurance system, which allows clinics to focus on their core business.
A vision to win the battle against heart disease
We operate in an evolved ecosystem that has been approved in Europe, the US, and elsewhere. Over SEK 400 million has been invested in the company, now publicly traded, and the unique Coala system, which is protected by around 30 patents and represents a close fit with digitalised healthcare services.
The ability to expand opportunities derived from heart diagnostics into other fields where remote diagnostics can be used is what drives our progress toward achieving our vision: Winning the fight against the number one cause of death globally – heart disease.