FOR IMMEDIATE RELEASE
Press Contact:
Kim Blomquist
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kim@mhubchicago.com
mHUB Ventures Backs Eight New Startups Selected for 2025 MedTech Cohort of mHUB Accelerator
8 startups join the growing mHUB Ventures portfolio and will participate in the Chicago-based mHUB Accelerator program supported by Baxter, Endeavor Health, and GE HealthCare
(CHICAGO November 15, 2024) – The next cohort of the mHUB MedTech Accelerator will welcome eight early-stage medical device startups selected for investment by mHUB Ventures. The 6-month program commenced in Chicago alongside industry partners Baxter International, Endeavor Health, and GE HealthCare. Teams are traveling from across the United Sates and Canada to access mHUB’s state-of-the-art prototyping labs, industry experts, and programming tailored to commercialization.
The program’s industry partners will provide mentorship and guidance, including clinical access and pilot opportunities. Baxter, Endeavor Health, and GE HealthCare participated in the competitive selection process to select teams that align with their own internal innovation goals and show the ability to address large, unmet needs with innovative solutions to transform patient care.
“The potential for innovation and technological advancement in the healthcare space has never been greater,” said Brad Bennett, System AVP, Venture Partnerships and Funding, Endeavor Health. “The energy and ingenuity you find with these startups – and the partnership with organizations from throughout the healthcare ecosystem, like Endeavor Health – is already making, and will continue to make, an incredibly strong impact on how we are able to meet the needs of our patients while also supporting our care teams.”
In alphabetical order, cohort teams include:
- Articulate Labs (Dallas, Texas) developing a wearable device that leverages intelligent neuromuscular electrical stimulation to support effective joint rehabilitation
- Crimson Scientific (Cambridge, Massachusetts) developing a wireless, non-invasive ECG pad for cardiac monitoring that simplifies use and reduces the need for highly specialized medical staff
- KAT Innovation (Montréal, Quebec) developing a non-invasive, wearable device to stimulate bone growth, aiming to prevent and reduce fractures in patients with osteopenia, osteoporosis, and chronic kidney disease.
- Madison Scientific (Chicago, Illinois) developing a first-in-class electromechanical neurosurgical implant that monitors intracranial pressure (ICP) and optimizes treatment for hydrocephalus patients
- Major Medical (New York, New York) developing a next-generation aortic endograft to streamline aneurysm repair and expand patient eligibility
- Neuraura (Calgary, Canada) developing a neuromodulation platform with a first in-kind solution for the symptomatic relief of PCOS (polycystic ovarian syndrome)
- Nspire (Chicago, Illinois) enhancing neonatal care with a smart medical device to optimize oxygen delivery and improve infant health outcomes
- Palmplug (Seattle, Washington) a multi-sensory wearable to stimulate and track joints through an interactive physical therapy platform for stroke rehabilitation
Participants in the mHUB accelerator receive initial investment from mHUB Ventures and gain access to additional follow-on investment opportunities, including from the program’s lead partners. Each team is paired with experienced mentors, receives stipends to support product development and design, and is integrated into an extensive supplier network. Participants benefit from exclusive access to industry-leading resources, including design software, device prototyping equipment, and advanced simulation and analysis tools to facilitate rapid development and testing.
The program will be supported by programmatic partners, Cooley LLP, EdgeOne Medical, and Ontogen Medtech, who will conduct topic-specific workshops and provide designated mentorship access for consultation across healthcare, product development, and business strategy.
“The most impactful healthcare innovations come from those who understand the needs of patients firsthand, which is why our program brings together physicians, engineers, and healthcare experts committed to pioneering new solutions,” said Monica Vajani, Executive Director of the MedTech Accelerator at mHUB. “By connecting startups with seasoned mentors and guiding them through informed decision-making, mHUB is expanding innovation beyond traditional corporate pathways.”
The 2025 medtech cohort of the mHUB accelerator will conclude in May 2025 with a Demo Day event.
About mHUB
mHUB is a leading independent hardtech and manufacturing innovation center enabling the commercialization of solutions that impact humanity and strengthening U.S. based manufacturing. The mHUB community includes over 500 active and alumni startups and small businesses supported by a deep talent pool of product designers and developers, entrepreneurs and engineers, manufacturers and corporate leaders, mentors, and investors. mHUB provides a hyper-resourced environment to entrepreneurs with the goal of commercializing new hardtech innovation that will lead to new businesses, intellectual property, investment, revenue, and job creation. Since launching in 2017, the mHUB community has generated more than $1.57B in revenue, launched more than 1,600 products, hired more than 6,400 employees, and raised over $1.89B in capital. To date, mHUB has invested in 46 startups across smart and sustainable manufacturing, climate and energy tech, and medtech.
About Baxter
Every day, millions of patients, caregivers and healthcare providers rely on Baxter’s leading portfolio of diagnostic, critical care, kidney care, nutrition, hospital and surgical products used across patient homes, hospitals, physician offices and other sites of care. For more than 90 years, we’ve been operating at the critical intersection where innovations that save and sustain lives meet the healthcare providers who make it happen. With products, digital health solutions and therapies available in more than 100 countries, Baxter’s employees worldwide are now building upon the company’s rich heritage of medical breakthroughs to advance the next generation of transformative healthcare innovations. To learn more, visit www.baxter.com and follow us on Twitter, LinkedIn and Facebook.
About Endeavor Health
Endeavor Health℠ is a Chicagoland-based integrated health system driven by the mission to help everyone in their communities be their best. Illinois’ third-largest health system and third-largest medical group serves an area of more than 4.2 million residents across seven northeast Illinois counties. More than 27,000 team members and more than 7,100 physician and advance practice provider partners deliver seamless access to personalized, pioneering, world-class patient care across more than 300 ambulatory locations and nine hospitals, including eight Magnet-recognized acute care hospitals – Edward (Naperville), Elmhurst, Evanston, Glenbrook (Glenview), Highland Park, Northwest Community (Arlington Heights), Skokie and Swedish (Chicago) and Linden Oak Behavioral Health Hospital (Naperville). For more information, visit www.endeavorhealth.org.
About GE HealthCare Technologies Inc.
GE HealthCare is a leading global medical technology, pharmaceutical diagnostics, and digital solutions innovator, dedicated to providing integrated solutions, services, and data analytics to make hospitals more efficient, clinicians more effective, therapies more precise, and patients healthier and happier. Serving patients and providers for more than 125 years, GE HealthCare is advancing personalized, connected, and compassionate care, while simplifying the patient’s journey across the care pathway. Together our Imaging, Ultrasound, Patient Care Solutions, and Pharmaceutical Diagnostics businesses help improve patient care from diagnosis, to therapy, to monitoring. We are a $19.6 billion business with approximately 51,000 colleagues working to create a world where healthcare has no limits. Follow us on LinkedIn, X (formerly Twitter), Facebook, Instagram, and Insights for the latest news, or visit our website https://www.gehealthcare.com/ for more information.
