Newly formed MedicaMetrix acquires IP and plans to relaunch ProstaMetrix device
BOSTON, MASSACHUSETTS (May 18, 2020) – MedicaMetrix, LLC, a Delaware company, was formed today by UrbanX Global Investors with Satish Vankayalapati as Chairman and Robert Rudelius as CEO. MedicaMetrix, LLC was created with a mission to transform prostate health management. Vankayalapati and Rudelius acquired and transferred into MedicaMetrix, LLC the intellectual property associated with a medical device, previously called ProstaMetric and now renamed ProstaMetrix, that measures the volume of the prostate to aid with early diagnosis and assessment of prostate health. The device was originally developed by the similarly named MedicaMetrix, Inc., a company that ceased operations in 2017.
“We believe that ProstaMetrix can play an important role for specialists helping patients manage the diagnosis, treatment and monitoring of prostate disease,” stated Vankayalapati. “The formation of MedicaMetrix, LLC is the first step toward realizing this vision.”
“This is an innovative technology that deserves to be brought to life, as it has the potential to significantly improve patient outcomes by arming urologists with an important metric – namely the measurement of prostate volume,” said Rudelius. “It also has the potential to reduce healthcare costs by avoiding unnecessary diagnostic procedures and treatments, as well as the cost of dealing with negative patient outcomes associated with such procedures.”
MedicaMetrix develops innovative technologies and device solutions that transform the healthcare status quo, leading to better medical outcomes, streamlined care and enhanced patient experience.
We are leading the development of a new paradigm that transforms the diagnosis, treatment, and management of prostate health by filling the gap between PSA testing and imaging / biopsies. The ProstaMetrix system is a minimally invasive medical device designed to accurately measure the volume of the prostate gland early in the diagnostic process. ProstaMetrix helps physicians assess a patient’s prostate status to better plan and monitor diagnostic procedures, treatments, drug therapies, and guide recommendations for active surveillance versus prostate biopsies.
MedicaMetrix is planning to acquire and develop other new medical devices with the goal to bring them to market rapidly by leveraging our planned production facilities in the U.S. and India.
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