WearOptimo Strikes $30 Million Deal For Life-Saving Technology

March 15, 2021 Updated: March 16, 2021

The Queensland government and the Australian National University have struck a $30 million deal with the WearOptimo to start mass-production a new, potentially life-saving technology in Australia.

A partnership between the Queensland Government, The Australian National University (ANU), WearOptimo, and the Australian National Fabrication Facility (ANFF) are looking at manufacturing and distributing WearOptimo’s inexpensive MicrowearableTM devices that allow patients and their doctors early warnings of life-threatening events, including heart attacks, heatstroke, and other conditions.

Set to be built manufactured in an advanced technology facility in Brisbane.

WearOptimo founder and CEO Mark Kendall said the new “sticker-like” devices are designed to improve the lives of seriously ill patients by allowing their medical carers to provide timely medical attention due to real-time monitoring fast and accurate reports on the patient’s health.

“Our Microwearable sensors are at the cutting-edge of personalised treatment and healthcare,” he said

“Another type of our Microwearable sensor is being developed to help with the early detection of heart attacks and cardiovascular disease, which is responsible for 20 million deaths per year.”

The wearable technology could potentially replace frequent blood tests on patients with serious diseases.

ANU Vice-Chancellor Professor Brian Schmidt used WearOptimo as an example of university-backed research success and the significant impacts on Australians.

“WearOptimo is taking the latest breakthroughs in health and transforming them from bold ideas into everyday innovations that will make a major difference,” he said,

As ANU’s first innovation company, WearOptimo’s funding comes after a signed deal with Aspen Medical to export their wearable health sensors to global markets.

“This funding is a welcome boost to that mission and will ensure Australia is a global leader in healthcare for decades to come,” Kendall said.

During the 2021 annual state of the university address, Kendall also said that he hoped the university would establish a “billion-dollar unicorn company” by 2025.