Mon4t Sets up a US Subsidiary
The Israeli Tele-Neurology startup will be operating from New York to serve its growing number of US based customers
NEW YORK and BINYAMINA, Israel, Feb. 9, 2022 /PRNewswire/ -- Montfort Brain Monitor (Mon4t), an Israeli medical company, that provides remote neurological evaluation by using smartphone technology and AI, today announced the opening of its US based operations in New York City, NY.
Mon4t's FDA-approved solution leverages smartphone technology and AI to conduct remote, digital neurological monitoring and tests for patients with neurological disorders, such as Parkinson's disease, psychiatric disorders (like schizophrenia), as well as for patients with Long-COVID19 symptoms (the latter may present symptoms similar to neurological conditions).
With the new subsidiary, Mon4t's CEO, Dr. Ziv Yekutieli, will relocate to the US, where he will work more closely with existing and new North American customers. Mon4t is currently hiring a US Chief Business Officer and additional marketing and sales employees. They will be joining the company's US based Chief Medical Officer, Prof. Peter LeWitt, who directs the Parkinson's Disease and Movement Disorders Program at Henry Ford Hospital in Michigan.
"Until recently, neurological treatment relied upon clinical examination. The COVID pandemic has limited clinical visits, which dramatically reduced the quality-of-care patients have received, and also made it even more challenging to conduct clinical trials. As our product offers remote patient monitoring, Mon4t has experienced a growing demand mainly in the US – hospitals, medical device companies, Pharma industry and Telehealth organizations", says Dr. Ziv Yekutieli. "The need to expand into the US is a part of our growth strategy, and a natural step in view of our product's maturity", he adds.
Like other Israeli digital health companies, Mon4t has seen a dramatic change and global interest in the last couple years, as part of the Telehealth revolution. According to McKinsey, the market grew x38 since the beginning of the pandemic, while the tele-neurology market potential in the US alone is over 50 billion USD.
"About half a billion people around the world suffer from neurological and psychiatric disorders. Diagnostics and treatment setting are based upon short and infrequent clinical visits thus limiting patients' quality of care and increasing treatment costs, says Dr. Yekutieli. In the US alone it is estimated that there are over 50 million patients who can be assisted by tele-neurology"
Mon4t's smartphone application monitors neurological symptoms such as gait, tremor, reaction time and memory, in real time and remotely. The FDA-cleared Mon4t solution uses existing smartphone sensors to perform neurological tests for patients who suffer from a variety of neurological conditions.
Mon4t was co-founded by CEO Ziv Yekutieli, PhD, an electrical engineer and brain scientist, with over 20 years of experience linking between both disciplines; and Dima Gershman, CTO, an Information Systems Engineering expert. Mon4t's CMO is Professor Peter LeWitt, Professor of Neurology at Wayne State University School of Medicine, Director of the Parkinson's Disease and Movement Disorders Program at Henry Ford Hospital, Michigan, USA.
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Media Contact:
Tamar Ayalon
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SOURCE Montfort Brain Monitor (Mon4t)
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