Mölnlycke Health Care, a world-leading MedTech company specialising in wound care solutions, announced an investment of USD 8 million in Siren. The healthcare tech company Siren is on a mission to help reduce the risk of diabetic foot ulcers by early detection of potential injuries through temperature-sensing textile technology.
About 830 million people around the world suffer from diabetes,1 living with the risk of diabetic foot ulcers (DFU) and amputation. Siren has developed “the Siren sock” as well as remote patient monitoring clinical teams, creating a service ecosystem for patients at risk of DFU.
The system has been clinically proven to reduce the risk of ulcers by up to 68%2 and amputations by 83%.2 This means less suffering for patients and is estimated to lower the cost of care by approximately USD 10,000 per patient annually. In addition, the workload for physicians is reduced, which is increasingly important in the pressurised healthcare environment.
“Our strategic investment in Siren reflects our commitment to integrating into digital ecosystems and pioneering innovative digital solutions that revolutionise healthcare delivery,” says Zlatko Rihter, CEO of Mölnlycke and continues “Helping to prevent wounds from occurring is also in line with Mölnlycke’s Wound Care mission to ‘help free patients from the burden of wounds’ and our ambition to further support healthcare in the post-acute segment.”
“We’re excited to team up with Mölnlycke to tackle diabetic foot ulcers at their earliest stages”, says Ran Ma, co-founder and CEO of Siren. “By investing in preventive technologies like ours, Mölnlycke is demonstrating real vision and leadership in helping patients avoid the debilitating consequences of diabetic foot ulcers. Their investment sends a clear message that prevention matters. By catching issues before they escalate, we can help patients stay healthy and independent, reduce unnecessary procedures, and ultimately make a real difference in their lives.”
References
1 WHO, https://www.who.int/health-topics/diabetes
2 Shih et al., Effectiveness of a Continuous Remote Temperature Monitoring Program to Reduce Foot Ulcers and Amputations: Multicenter Postmarket Registry Study, JMIR Diabetes 2024
