Shimmer in $10m deal with US giant
Sensor technology signs long-term deal with Emerge Diagnostics
Shimmer will provide a platform to allow Emerge Diagnostics roll out a new medical device that will enable the diagnosis and treatment of soft tissue injuries through electrodiagnostic functional assessment.
Sensor technology firm Shimmer has signed a long-term deal with US-based Emerge Diagnostics that will be worth about $10 million to the Irish company over the next three years.
Under the deal, Shimmer will provide the platform that will allow Emerge Diagnostics to roll out a new medical device that will enable the diagnosis and treatment of soft tissue injuries through electrodiagnostic functional assessment.
“Essentially what Shimmer is providing is a range of body-worn sensors to facilitate Emerge’s application,” explained William Lyons, chief marketing officer with Shimmer. “It should equate to a total of $10 million over the three years. We’ve just shipped the first part of that this month.”
The device contains 28 sensors and can be used to distinguish between an acute injury from an underlying chronic condition. It can help determine the age of an injury.
The sensors monitor a muscle’s electrical signals, movement and the power of a person’s grip, for example.
The deal “far exceeds” any of the company’s biggest to date, Mr Lyons explained. The move will also be a boost for Shimmer’s Dublin manufacturing facility.
That $10 million is a conservative estimate, the company said, with the expectation that the total could double over five years.
Shimmer vice-president of sales Paul Doherty explained the company began working with Emerge four years ago. “It was steep learning curve and it’s something we can learn from.”
Emerge’s chief executive Robert Thompson said the company plans to ship about 2,000 units over the next three years, creating a new product category facilitated by Shimmer’s technology.
Shimmer, which was a finalist in this year’s Irish Times Innovation Awards, won the Frost & Sullivan product leadership award in 2013 for its Shimmer3 sensor platform. It ships products to over 60 countries, with start-ups, Fortune 500 companies and universities utilising the technology.