Gregory Dean, DriQ Health - Incontinence Monitoring Solution | LSI USA '24

Gregory Dean  0:04  
Good morning. Thanks, everyone for your attention. I am, as mentioned, Gregory Dean. I'm a urologist. And unfortunately, I had a family member that was in a nursing home and I walked in, I smelled urine. And I'm sure you know if any of you walked into nursing homes, no, this is a massive problem. It's a huge worldwide problem. And the problem is, there's really been no way of monitoring these individuals. And you know, we are using our technology really to transform quality of care with our solution. And I'm excited to show you what we're going to do. We know that there's a massive cost unmonitored incontinence in the United States over $60 billion. This is related to skin irritation, wound breakdown, ulcers, when people are wet, no one attends them, they don't know that they're wet, and they get up and they get out of their beds and they fall. And then you have the risk of urinary tract infection. So it's a massive health care spend for the US. Within our approach we have just calculated based on our numbers, what that looks like for us. And our total addressable market is more than $6 billion in the US, and we're starting to get some worldwide interest. So we know that this number is much larger. So what happens currently, in nursing homes and well run nursing homes, what people try to do is every two to three hours they're going in and they're checking and changing someone. This is problematic, because what happens is, if you look at a wedding episode, it will occur sometime within that three hour period. And that means that on average, each time someone has changed, they've been sitting in a wet brief for one and a half hours. If you look at the fact that most people went four times a day, you're looking at six hours of your grandmother or your your loved one sitting in a wet brief, even in a well run nursing home, and many of them are not well run. With respect to how people can manage us, there really has been no, there's been no real technological approach to addressing this. Why do you want to manage this? Well, we know again, I mentioned skin breakdown, falls, preventing urinary tract infections, facilities want to manage this, because what happens is that it's hard to hire staff, if you tell a staff member that they have to go into rooms at three in the morning and just randomly wake people up, it's hard to get people to do the work. And so we know that we can facilitate effective use of staff. We also know that in those nursing homes that were deployed in, it's a huge competitive advantage when people know that they're doing this act of monitoring, these are the sorts of places that you would want to send a family member to finally Medicare has tracking that looks at quality of care related to incontinence care, and you can actually get penalized for not meeting those metrics. And we're providing them with the tools to ensure that they're getting adequate Medicare payments. We are the world's first battery free disposable smart diaper solution. Why does that matter? If you try to create and other people have tried to create solutions, where they're putting batteries and dongles on diapers, you have minimum wage workers that are taking diapers and throwing them away, we know that that will not work, anyone who's attempted that will fail. And so we have a radically different approach, where basically, our sensor is placed outside of the brief and our sensors disposable. Here's a quick demo. And basically here we're placing one of our sensors outside of brief. And again, this is not wired up, there's no power to it whatsoever, you can see our hub in the middle. And then you can see our dry cue app. And you'll see liquid is poured through this. And what's happening is the hub is sending energy to the brief and it can be far away. And then as it's sending that energy, it's reporting back, we see that it turns red, it knows that the diaper is wet and we see the app reporting it for a nursing home worker, you're going to have push notifications, they're gonna know hey, I need to get up I need to go over to room three and take care of this person. You know, what are we doing? Why are you know, we show this to people and they're like, why hasn't anyone else done this? And I think that it's because of the way we're doing it. We basically have a sensor. That's and this is a baby diaper but it's placed on the outside of the brief and no one has really sought to do this. It's highly accurate because there's no batteries to change. It's it's easy to deploy on scale. And again, we have numerous ways of notifying, and users. Again, we have tax, we have email we have in app notifications, we have audible notifications. This is our hub, our hub changes color, if you're walking by the room, you cannot miss it. And again, this just shows the elegance of our sensor approach where we're using a non powered sensor place outside the brief. Why does this matter as an in potential investor, we're a disposable company. And so we have two approaches. One approach is that we're having direct relationships with nursing homes, we also are now developing a direct to consumer model where we're selling sensors directly to consumers. So again, having this throwaway technology really can lead to significant revenue generation. This is again, a diagram of our solution, you can see the hub, you can see the hub directly communicating with the sensor, which is on the diaper or brief, it then goes up to the cloud. And then the cloud performs analytics, and then it sent down to any of our messaging, apps or approaches. We're also sophisticated device, we don't want to have these things deployed all over the world and then say, hey, we have a firmware update. So we're fully capable of over the air updates. So these will always be up to date and ready to use. This just shows again, what it looks like for end users, people are coming into nursing homes. They're expected to lift up 300 pound individuals and check them and look at them. And it's really senseless labor. And we are able to essentially overcome that problem. This is just showing our our approach. Right now we're raising $5 million. Our plan is to have 1000. We do have devices in five states right now, but to have 1000 devices over the next year. And we're using this money to support our sales staff, our support staff and then also to continue our development pipeline. We've already showed that it makes a difference. Our our initial studies show some clear benefits. We basically our device launched this fall, we've deployed in five states, we're fulfilling active orders. We're having no supply chain issues. This is our team. We've got a small but really well developed team and we've done a lot with with a very small amount in terms of our initial funding. We've won a lot of awards. Come by and see us at booth 44. I'd love to talk to you more and provide a demo show you our show you our sensors. Thank you very much