Transforming Patient Care – Sensory Technologies

Member Survey

Members of our local angel investing group, SWO Angels, have invested in Sensory Technologies (“Sensory Tech”). Sensory Tech is a privately held Canadian medical software company that has developed and markets a proprietary solution to both prevent and replace medical treatment within private and public healthcare facilities called “eShift”. Sensory Tech has offices in Canada, the United States, and Europe.

eShift Platform

Sensory Tech’s eShift is a virtual hospital ward system, provided within the community, sold as a software as a service (SaaS) platform. It is designed to reduce readmissions and allow early hospital discharge through a completely new model of care.

eShift was developed in cooperation with a local Community Care Access Centre (“CCAC”). It involves specially trained Personal Support Workers (PSW) receiving support from an off-site nurse through a smartphone application. A PSW carries out activities on behalf of the nurse.

CCAC’s in Ontario are designed to help Ontarians that want to live independently, but require some home care. The eShift platform increases the efficacy of the CCAC’s PSWs and nurses, while substantially decreasing the overall cost of care.

Relationship with SWO Angels

Sensory Tech first presented to SWO Angels in 2007. At the time, its founder was looking for funding for the development of a proof of concept platform. SWO Angels members believed that the projected costs were too high and Sensory Tech also did not have an implementation partner, resulting in an unacceptable degree of both technical and implementation risk to proceed with funding.

As part of the due diligence process ahead of this early pitch, in an effort to better understand Sensory Tech’s product and the CCAC’s possible interest in implementation, SWO Angels reached out to a contact within the local (South West) CCAC. The CCAC had just issued an RFP that was then provided to Sensory Tech and resulted in the first material customer for eShift.

Sensory Tech also altered their strategy to develop the platform, at a much lower cost. In 2011 Sensory Tech reapplied to SWO Angels. By this time, the South West CCAC was fully implemented on eShift and showing significant traction and results from the service. So, in 2012, SWO Angels members invested $500,000 through the purchase of attractively priced and expiring warrants available from an existing shareholder. Later, in 2016, SWO Angels members made a $2 million follow on equity investment directly into the company and in 2017 an additional $1.7 million was invested as the lead order for a significant venture capital raise planned late in the year. Dennis Ensing, CEO of SWO Angels, currently also serves as the Chair of the Board of Directors of Sensory Tech.

Sensory Tech is an excellent example of how SWO Angels have partnered with and invested in an early stage company to create a successful business based in Southwestern Ontario.

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