The Company and its Technology
Klein Medical is completing 10 years of research and development of its unique hybrid spectrometer technology.
The technology employs novel spectral and other analysis to identify, in this application, unique signatures for IV fluids and intravenous drugs.
The research has been funded by investor capital and government grants.
The aim is to verify all drugs without reliance on reagents or barcodes at a cost structure that is commercially viable.
The IP is protected in the US by four patent applications, one already approved.
The company has 12 shareholders who are all private individuals. These include two former Fisher & Paykel Directors
(Fisher and Paykel Healthcare is New Zealand’s largest medical device company) and the founder of New Zealand’s
largest Health Recruitment Company.
The research team includes consultants in New Zealand and the US; Auckland University, Auckland Hospital, Auckland Medical School, Crown Research Institutes, and contract electronics and software engineers.
Advantages of the Klein System
- The Klein Drug Verification System will use proprietary syringes and IV sets in tandem with a small low cost analyser. The potential advantages of the system are:
- Lowest Cost System. The Klein system avoids the costs of pre filling, storage, testing, bar coding, glass syringes and transport.
- Hospital Wide. The Klein solution is not complex and multilayered, allowing deployment throughout the hospital.
- Little Infrastructure Required. The Klein solution can be a stand -alone unit or part of a more complex system.
- Compatible with Existing Systems. The Klein solution can be a component of existing record keeping systems,
replacing the need for bar-coding and pre-filling syringes with BCMA solutions or as a safety feature of infusion pumps.
- Potentially Faster Implementation. Without the need for infrastructure and a low capital cost, the system has the potential for faster deployment to where the need is greatest.
- Avoids Drug Stability Issues. The system allows for the drug to be drawn tested and administered at the same location in a relatively short space of time.
- Safety. By testing at point of administration the risk of human error is considerably reduced. Administration errors account for nearly 40 % of medication errors (Leape et al. JAMA, July 5, 1995.) and only two percent of the errors that occur during the medication administration process are intercepted.
- Flexible to Suit Existing Clinical Practice. The simplicity of the system accommodates little departure from existing clinical practice.