Relay Medical Corp.

Developing Innovative Technology in the Point-of-Care Space

Overview

Relay Medical Corp. (CSE:RELA;OTC:CHXIF;FRA:EIY2) is a medical technology company currently developing their proprietary HemoPalm platform, which brings lab based analysis to point-of-care situations. The Relay Medical Corp. HemoPalm platform combines spectroscopy and biosensors to analyze CO-oximetry along with blood gas and electrolytes in a portable, handheld device. This approach requires two analysis techniques as blood gases and electrolytes can be analyzed with the same method.

The Relay Medical Corp. comprehensive platform stands out among its competitors in the point-of-care market as it is the only device able to conduct both analyses. To compare, the i-Stat, which is the current market leader and was acquired by Abbott in 2003 for $400 million, is a portable device that only analyzes blood gases and electrolytes. To compensate for this, the i-Stat is usually sold alongside a bench-top Co-oximetry analyzer, the Avoximeter. Similarly, Alere—recently purchased for approximately $6 billion by Abbott—acquired and distributed Epocal, which is another handheld device that only analyzes blood gases and electrolytes.

Investment Highlights

  • Developing HemoPalm platform to analyze CO-oximetry, blood gases and electrolytes within capillary blood samples
  • Unique technology that consolidates analytical methods otherwise performed by more than one device