The new subsidiary will be led by Abhishek Shrivastava, chief technology officer of Sanomedics International Holdings

Sanomedics Development Corporation will be an incubator for identifying and swiftly bringing to market healthcare-focused solutions in information technology, software, medical devices, services and tele-health applications. These new solutions for the healthcare industry are anticipated to reduce cost, increase quality and improve healthcare efficiency overall.

With healthcare consuming over a trillion dollars annually as a greater proportion of the Gross National Product, this industry is positioned for an explosion in the development of new technologies to reduce cost and improve quality, said Keith Houlihan, president and chief executive officer. Efforts at healthcare reform undertaken by President Obama focus on improved uses of information technology with the development of new devices and services to meet the two major goals of reform – improved quality and reduced cost. Sanomedics Development is our effort to find, fund and bring to market as rapidly as possible these newly emerging solutions through Sanomedics International.

Sanomedics Development Corporation will be funded and controlled by Sanomedics International Holdings. This will allow for rapid product evaluation and decision-making in regards to newly discovered opportunities, said Abhishek Shrivastava, chief technology officer. In my view, the uncontrolled ever escalating costs across the healthcare industry are unsustainable. New innovations combined with speed to market and rapid adoption is critical in providing effective and affordable solutions to the problems facing healthcare today.