When Charu Ramanathan came from India to earn her doctorate in biomedical engineering, she had a vision for turning Case Western Reserve University’s non-invasive technology into a diagnostic tool to monitor heart activity. That drive to transform the project she loved into an actual tool that would help people meant going beyond publishing her thesis.
Charu and her partner were inspired to launch CardioInsight™, which would offer this life-changing cardiac mapping to hospitals across the country.
The product solution was CardioInsight™ Noninvasive 3D Mapping System, a simple vest loaded with complex technology. Unlike conventional catheter-based mapping methods, this system is non-invasive and provides a view of the entire heart’s electrical activity in a single beat, enabling electrophysiologists to better guide treatments to localize arrhythmias, or optimize the placement and settings of CRT devices, such as pacemakers.
With earlier monitoring and mapping of heart activity beat for beat, patients would be able to receive faster, more precise results from their bedside.
The next challenges for Charu and her partner were licensing the technology and driving demand in the marketplace. From the moment Charu and her partner connected with JumpStart, they were supported with resources for licensing, product development and manufacturing, all of which were needed to achieve milestones of growth. JumpStart helped Charu and her partner develop a strategy and navigate make-or-break obstacles, while also providing critical funding. With this support, Charu and the CardioInsight team were able to raise $35 million for commercial launch.
“With all of the technical support, resources and consulting, JumpStart has truly lived up to its name and has been a true partner, helping kickstart us at a critical stage.”
– Charu Ramanathan, Co-Founder, CardioInsight
Charu and her team have proven that homegrown technology can launch into the global marketplace in Northeast Ohio. Talent from around the globe is interested in innovation. And this hasn’t gone unnoticed by investors. Venture capitalists aren’t restricted by geography – they invest in where the opportunity reveals itself.
CardioInsight was acquired by medical technology giant Medtronic for more than $90 million. The deal involved a commitment to growing the technology from Northeast, Ohio. Medtronic now has a thriving team of 30+ located in Independence, Ohio and 40+ consultants from around the U.S. and Europe all tasked with expanding the technology into the global marketplace.
The heart of the story: The Northeast Ohio economy continues to thrive, which ultimately means more jobs and opportunities – and a better way of life for the long-term.