Centese | Randy Preston, Chief Business Officer


Randy Preston

Randy Preston

Chief Business Officer, Centese
Transforming surgical drainage with intelligent digital devices to reduce complications and costs in patients recovering from cardiothoracic surgery.

Randy Preston  0:00  
All right, I'm gonna start by saying it was definitely an honor to follow up, Dr. Villafaña He's a true inspiration to all of us entrepreneurs out there. And so he is a fantastic guy. And I'm happy to yield a little bit of my time to him, as well. So, today, I'm going to talk about Centese, so Centese is focused on optimizing surgical drainage. And we see an opportunity to be transformative when it comes to radically changing fluid drainage management. So we all know that surgery is rapidly transforming. This picture is a well known image taken back in the 60s by Dr. Michael DeBakey. down in Texas doing one of the first coronary bypass procedures, you can see the room is full of people, not only trying to learn about it, but also trying to assist him as best as possible because this procedure would go on to help save the life of hundreds of millions of people. But surgery is rapidly changing. And if you go into many ORs  across the country today, this is likely what you'll see, robotics is making a huge, huge influx.

Surgery is moving to smaller, faster and more efficient. The emphasis is moving towards patient outcomes, experience and recovery. Survival is expected. But optimization is really the future. And so we see the opportunity to really help that optimization by addressing one of the weak links in surgery. And that is post operative fluid drainage management. So this picture was taken back in 1972, a few years after that Michael DeBakey picture that I just showed you. And what we have here is a nurse tending to the post operative drainage system that they used back then it's three bottles, three glass jars sitting on the ground, and they're connected. One of the jars is connected to a tube that is in the patient's chest that was placed there during the surgery to help drain the blood and fluid that accumulate after that surgery. Second one is designed to help pull the air out and provide a serve as a one way valve to prevent air from working its way back into the chest and causing an infection or a pneumothorax. And the third one is for helping regulate suction that is connected to the wall through another tube to help facilitate that drainage.

And this is what that system looks like today. It's essentially the exact same thing, except it's injection molded. It sits in the exact same side of the bed and does functionally the exact same thing. It's still connected to the wall for its source of suction to help facilitate that drainage. It requires the patient to be in their room and close to their bed. Well, that system is in place really limiting their ability to get up and move around. The drainage tubes that drain that blood from the patient's thorax, frequently clog off and become ineffective. And really the only way to address that is for a clinician to come into the room and yank and pull and tug tug on those tubes like you see here, hoping to create a spike in pressure, which that will hopefully dislodge the clot that's built up in there and hopefully return the system back to normal drainage. But unfortunately, it doesn't always work. And all of the data in this day and age is collected manually. When the nurse goes on an hourly basis to see how much blood the patient has lost. They get down on the ground with a sharpie and mark on the side of the canister every single hour. Well that systems in place, sometimes for three, four or five days. If the patient has had a lung wound, the air has been drained through a little chamber full of water. And that air is comes through as bubbles and you can see that here in the picture in the center. It's then up to the clinician to determine how many bubbles come through how big those bubbles are the rate at which they're coming through to determine if the patient's lung has healed appropriately. The default in that situation is to say okay, well I think they may have it may have healed but if I'm not certain I'm gonna go ahead and keep them in the hospital for another day. And all of these challenges have significant implications. They can lead to what would be considered very preventable complications and these can be the most severe complications resulting resulting from things like reoperation and death. It will prolong hospital stays and lead to unnecessary costs, especially in procedures that are frequently paid in a bundled payment or DRG style reimbursement. So at centese we developed Thoraguard, Thoraguard is designed to meet the needs of surgeries digital future. So first and foremost, it is a mobility enabled solution. It has battery powered and suction built into it so that patient can get up, they can move around the hospital, and they can start their rehab a critical first step following surgery. We have our own chest strains that have an automated clock clearance feature built into them, so you're guaranteed to have effective, reliable and consistent drainage. We have data our system is built with sensors and monitors to keep track of the fluid that's trained and provide trending information right there at the bedside so that the clinician can make objective decisions based on clear, reliable data. And as a digitally native system, our system is built to push forward into the digital future through EMR integration, predictive analytics, asset tracking and remote monitoring. The global market opportunity for the current systems is rather massive, there are over 9 million of those chest drainage systems that are in use on an annual basis.

The leading users are thoracic surgery, cardiovascular surgery, trauma and emergency medicine and pulmonology. This creates an existing $2.1 billion market opportunity that's growing at about a 5% annual clip. Our team is a team of seasoned med tech individuals. My colleague, Evan Luxon, has always been focused on product and product development. He's led the product development for multiple early stage medical device companies from concept all the way to market. And for myself, despite coming from a technical background, I spent the past 15 years in clinical facing commercial and business development roles. And we've surrounded ourselves with additional experts. So we like to say we have the experience of identifying a good idea, bringing it to market and then getting it across the finish line. So in conclusion, our device is FDA cleared. We have 10 issued patent patents. We have revenue generation recurring steady revenue from multiple customers, despite not yet investing in any sales and marketing infrastructure. We have documented clinical data, which points directly to the product market fit, and we have a $2 billion plus underserved market. We're currently raising our series B to focus on commercial scale, and I'm happy to answer any questions. Should anybody have anything? Thank you.

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