Lenexa Medical - IO Private
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Ajit Ravindran

CEO

DD Checklist

How much total funding has your startup received

$1.5M

What percentage do the founders still own?

45%

Did you develop your own technology inhouse?

No

What is your Annual Revenue Run Rate?

NA

What is your most important metric (name and amount)?

Currently in Product Development Stage

Do you own Trademarks or Patents? (please list)

Yes

Filed our Patent PCT in September 2019 and will be filing for patent by March 2021

Lenexa Medical

$200K - $300K

Amount Being Raised

Lenexa Medical is taking the pressure off our healthcare system. Pressure Injuries (Bedsores) are one of the top 5 most commonly occurring preventable conditions, costing the Australian Healthcare system over $2B.The Lenexa Medical smart sheet is a personalised, data-driven solution for pressure injury prevention. Lenexa Medical recently received the AC grant (https://www.business.gov.au/Grants-and-Programs/Accelerating-Commercialisation/Accelerating-Commercialisation-funding-offers ). We are developing a smart-fabric technology that has a wide range of applications, but in the first instance a pressure injury management system (with patient monitoring functions to follow soon afterwards). It benefits from a range of macro-trends that are accelerating in the current environment: >Increasing attention to home-care and telehealth capacity >Providing ‘flexible’ ICU / patient monitoring capacity so ICU and hospital beds can be expanded and contracted for ‘peak’ demands (COVID-19 / winter flu season / natural disaster etc.) >Providing a low-cost and retro-fitable solution to patient monitoring compared to many existing high-cost solutions >Trend toward preventative measures to reduce healthcare cost rather than reactive treatments >Generation data to support earlier diagnosis and intervention of various disease states including cardiac and respiratory conditions >Traction with distributors in the US already for trials and also the product as soon as it' market-ready

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