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Socrates Health Solutions, Inc.
http://socrateshealthsolutions.com/Last activity: 23.12.2015
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Socrates Health Solutions is focused on the design, development and commercialization of non-invasive glucose monitoring solutions that are pain-free, accurate, and affordable. The company is developing three distinct devices, Companion SR, CM and LS. The same patented technology is used across the product family. These products will be made available to our customers at a fraction of the cost of invasive products on the market today.
Worldwide there are 422 million diabetics. In the U.S., there are currently 23 million diagnosed diabetics, 7 million undiagnosed diabetics, and another 84 million people in a pre-diabetic state where their blood sugar levels are higher than normal. Close to 1.4 million people in the U.S. alone were newly diagnosed last year. The self-monitoring blood glucose market is expected to reach $15 Billion per year by 2020. The continuous glucose monitoring market is expected to reach $3 Billion per year by 2020.
Glucose monitors offered today are invasive, painful and expensive. Persons with diabetes test themselves 3-10 times per day. Testing requires a finger prick to get a sample of blood or the insertion of a needle weekly for CGM use. In addition to current invasive products being painful and expensive they are inconvenient and provide limited information to the user.
Socrates Companion family of products are non-invasive and inexpensive. The devices are small and simple to use. Companion is designed for the modern consumer who is mobile and connected to their loved ones, providers and payers. Modern technologies such as bluetooth, smart watches, smart phones and apps will be leveraged to provide a seamless and real-time user experience.
Worldwide there are 422 million diabetics. In the U.S., there are currently 23 million diagnosed diabetics, 7 million undiagnosed diabetics, and another 84 million people in a pre-diabetic state where their blood sugar levels are higher than normal. Close to 1.4 million people in the U.S. alone were newly diagnosed last year. The self-monitoring blood glucose market is expected to reach $15 Billion per year by 2020. The continuous glucose monitoring market is expected to reach $3 Billion per year by 2020.
Glucose monitors offered today are invasive, painful and expensive. Persons with diabetes test themselves 3-10 times per day. Testing requires a finger prick to get a sample of blood or the insertion of a needle weekly for CGM use. In addition to current invasive products being painful and expensive they are inconvenient and provide limited information to the user.
Socrates Companion family of products are non-invasive and inexpensive. The devices are small and simple to use. Companion is designed for the modern consumer who is mobile and connected to their loved ones, providers and payers. Modern technologies such as bluetooth, smart watches, smart phones and apps will be leveraged to provide a seamless and real-time user experience.
Location: United States, Texas, Dallas
Employees: 1-10
Phone: +1 888-656-9807
Founded date: 2013
Investors 1
| Date | Name | Website |
| - | Health Wil... | healthwild... |
Mentions in press and media 7
| Date | Title | Description |
| 23.12.2015 | GlucoVista raises new funding for wearable device in race to develop noninvasive continuous glucose monitoring tech | It has raised $2.7 million from six investors, according to a Form D filing with the U.S. Securities and Exchange Commission. The company is currently conducting clinical studies with hospitals in Israel. Although Noninvasive glucose monito... |
| 13.12.2013 | Diabetes: Socrates Health Solutions raises $1M for glucose monitor | Socrates Health Solutions raised $1.3 million in an equity, debt, and options round for its Companion glucose monitor. The Companion is a non-invasive glucose monitor which seeks to be an affordable and compact option for diabetes patients.... |
| 25.10.2013 | Startup kicks off crowdfunding campaign for noninvasive glucose meter | “We’re cautiously optimistic. We absolutely do have a plan in place and we also cheer our competitors. There’s definitely room in this space for five or six noninvasive glucometers because the market is so large,” he said. Socrates is curre... |
| 22.10.2013 | The future of noninvasive glucose meters? I-Pod sized and ear-clipped | But, at least in the near future, a noninvasive glucose meter is unlikely to have a cheap price tag. The GlucoTrack costs about $2,000. As all leaders in the noninvasive glucose meter space claim, so does Gal–that with a long-use life that ... |
| - | GlucoVista raises new funding for wearable device in race to develop noninvasive continuous glucose monitoring tech | GlucoVista, a medical device company with U.S. headquarters in Fairfield, New Jersey, has raised more than $2 million as it seeks to advance a noninvasive, continuous glucose monitoring tool for Type 1 and Type 2 diabetes patients. Its tech... |
| - | Startup kicks off crowdfunding campaign for noninvasive glucose meter | Socrates Health Solutions has gone to Indiegogo to crowdfund $125,000 for its noninvasive glucose meter technology, the Companion, by Nov. 12. The healthcare startup has Dallas roots as part of the Health Wildcatters incubator. The campaign... |
| - | The future of noninvasive glucose meters? I-Pod sized and ear-clipped | The healthcare startups in the race to launch an approved noninvasive, bloodless glucose meter for the growing diabetes patient population is on. While each company etches out its value proposition and aims for commercial launch, a look at ... |