Medical device company Motus files for Nasdaq IPO
Situated in Israel and the US, medical device company Motus has recently filed to undertake an initial public offering of its shares on the Nasdaq Stock Exchange. It is thought that shares could raise up to $28.8 million.
Responsible for the launch of the Pure-Vu system, Motus supports patients who are undertaking a colonoscopy, supporting the cleaning process to allow the procedure to be undertaken.
One of the most common procedures to be undertaken in the US annually, the technology has been accepted by the FDA, but works only to supplement current cleaning processes prior to the procedure being undertaken.
Designed to improve the patient experience and early detection of colorectal cancer and other dieases, the system fits over standard colonoscopes, supporting medical professionals who are undertaking the procedure and “gain clear visualisation of the colon mucosa,” the company has stated.
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At present, colorectal cancer is the third most common cancer for both men and women in the US, with 97,220 new colon cancer cases predicted to arise in 2018, besides over 43,000 cases of rectal cancer. The use of screening and new technologies, such as the Pure-Vu system, are helping to drastically reduce such figures.
“In clinical studies performed in Europe and Israel from 2012 through the second quarter of 2017, the Pure-Vu system and earlier prototype versions have demonstrated effective cleaning in over 175 patients that followed a significantly reduced preprocedural colonoscopy preparation regimen, as compared to current prep regimens,” the filing noted.
"I believe that the Pure-Vu System's ability to cleanse the colon during a colonoscopy will play a significant role in improving outcomes, reducing costs and enhancing experiences, which ultimately should help to reduce the risk of colorectal cancer and other GI disorders," added Gary Pruden, who has joined as part of the company’s Board of Directors.
With increased funding, the technology could further transform existing processes and enable the company to gain revenue to enable future development.
OMNI: First-ever platform to launch citizen RPA developers
Robotic process automation (RPA) is the fastest growing segment of the enterprise software market due to its many benefits - from reducing manual errors to processing tasks faster. For businesses to truly benefit from this technology, RPA needs democratisation, and this is where citizen RPA development comes in.
Gartner describes a citizen RPA developer as "a user who creates new business applications for consumption by others using development and runtime environments sanctioned by corporate IT.” This could be anyone using IT tools and technology, not limited to IT specialists.
The work citizen RPA developers do spans from identifying automation opportunities to developing RPA architecture and solution proposals, focusing on scalability and extensibility. By deploying citizen RPA developers, organisations can enable enterprise automation and digital transformation on a much larger scale.
This is particularly beneficial for businesses struggling to undertake digital transformation, as a citizen RPA development programme can help drive adoption of automation as a strategic growth driver at multiple levels. With increased adoption, the cost of digital transformation becomes lower, increasing RoI.
Technology needs to be democratised – right from low-code and no-code platforms, business process modelling and identifying automation opportunities to decision-makers at all levels, creating a pool of early adopters. This group could comprise people across different functions, especially those who are aware of customer preferences, industry trends and end user experience.
But how can organisations harness the power of citizen RPA development? Step forward AiRo Digital Labs, a Chicago-headquartered global tech company.
AiRo provides innovative digital and automation solutions for the healthcare, pharmaceutical and life sciences sectors. In 2021 they launched OMNI, a subscription-based, SaaS platform to help clients accelerate their citizen RPA developer program and build digital centres of excellence (COE) within their organisation.
OMNI provides a personal RPA coach and virtual digital playground that helps enterprises rapidly build and scale automation, removing the risk of failure or talent gaps. The latter is key as research has shown that digitalisation is far more successful when championed by internal employees.
This has the added bonus of empowering employees - who will self-learn technologies including robotic process automation (RPA), artificial intelligence, machine learning, chatbots, and natural language processing (NLP), reducing the lead time for new applications and technology, as well as reducing technical gaps, making up for skills shortages and enabling their business to respond faster to critical market challenges. The virtual sandbox within OMNI gives access to all the major intelligent automation platforms where citizen RPA developers can build DIY digital prototypes. Additionally, they can access more than 150 digital assets within OMNI marketplace.
The platinum helpdesk of OMNI acts as your personal coach and is available 24 x 7 to address issues during the digital learning, prototype building, and digital governance journey.
Another key benefit is that it enables digitalisation to be bespoke to each organisation, compared to off-the-shelves initiatives plugged into the enterprise. Individual organisation's objectives decide the scope and size of the process.
As Gartner state, in today’s world of SaaS, cloud, low-code and “no-code” tools, everyone can be a developer.