MedMined
Inc. has developed technology that can help healthcare facilities
track patterns of hospital-acquired infections and identify when
these infections become resistant to the drugs commonly used to
treat them. This technology, the Data Mining Surveillance Service
(DMSS), continually monitors millions of possible signs of
an infectious outbreak, so medical professionals can address potential
problems before an outbreak occurs.
Each year in the United States, hospital-acquired infections affect
nearly 2 million patients and contribute to approximately 88,000
deaths, making them the fourth leading cause of death. Healthcare
providers and insurers spend more than $4.5 billion annually treating
these infections, since many are resistant to antibiotics and difficult
to treat.
"Hospital-acquired infections have been a problem for a long
time and drug resistance is becoming more prevalent," says
Mark Griffin, MedMined CEO. "The
challenge is identifying where the problem is. Once the source of
the infection is located, it's easy to change the process or procedure
that caused it, helping healthcare facilities improve patient care
and reduce costs."
MedMined founder Stephen Brossette recognized
the need for a more accurate infection monitoring system when he
was a graduate student at the University of Alabama, Birmingham.
In the course of his studies, he developed the DMSS to help
hospitals detect infection patterns humans could easily miss. Brossette
formed MedMined in January 2000 to market the technology, and he
moved its operations into a single office at the Office for the
Advancement of Developing Industries (OADI) Technology Center in
April 2000. Within a year, the company began offering DMSS
commercially, received $2 million in venture capital funding and
brought on Griffin as chief executive officer.
When Griffin joined MedMined in March 2001, he looked into other
office space for the company, but he could not find anything that
better met the needs of the growing company. He says he especially
appreciates OADI's "great facility" and its array of business
support services. "New businesses can't afford to be distracted
with trying to locate office resources," Griffin says. "During
the early stages, a business should be focused on succeeding and
securing its market presence. By locating in the incubator, which
provides us with the resources we need, we're able to focus on our
business."
As the company has grown, MedMined staff has expressed a deepening
appreciation for the services offered by the incubator. Since MedMined
entered the incubator, OADI staff has helped the company with marketing
plans and sales training. The incubator's significant connections
to the Birmingham business and investment community also have been
key to the company's success, Griffin says, helping to provide contacts
to decision-makers in the hospital industry and opportunities to
present to venture capitalists.
MedMined has parlayed the incubator's assistance into business success
in a short period of time. By the end of 2001, the company had secured
projects with five Centers for Disease Control and Prevention epicenters
and two Veteran's Administration Hospitals. MedMined also has received
the endorsement of the Child Health Corporation of America, a business
alliance of 38 children's hospitals.
In its first year, MedMined revenues were $5,000. By 2001, annual
revenues increased 27 times to $135,000. MedMined expects 2002 to
be a breakthrough year, with revenues exceeding $500,000. Since
2000, the company has grown from one employee to eight, and total
salaries have increased from $15,000 to $600,000.
Griffin says winning the Outstanding Incubator Client Award provides
the company with both internal and external benefits. "The
award lets us know the company stands out to people who look at
businesses all the time," he says. "This validation is
what we're always trying to achieve in the marketplace. Of course,
the external benefits of the publicity can't hurt a young company
either."
Susan Matlock, OADI executive director,
also is excited about the award. "I love to see successful
young companies recognized for their hard work," she says.
"Even at this very early stage, we could tell that MedMined
and its technology have incredible potential."