Qualcomm (QCOM) Forms Subsidiary to Operate Wireless Health and Establishes $100M Life Fund
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Qualcomm Inc. (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.
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.
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.
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