Mobile technology company Qualcomm announced this morning that it was forming a subsidiary, Qualcomm Life, that will focus entirely on wireless medical device technology.
The subsidiary will run the company's former Wireless Health business, including its 2net Platform and Hub, which stores, transfers and displays medical device data using a wireless connection.
It will also establish a $100 million fund, managed by Qualcomm's venture arm, to invest in wireless technology adoption in the healthcare industry. (Desired developments include biosensors, medication compliance, wellness, remote diagnosis or monitoring and analytics.)
Previous investments in Sotera Wireless, Telcare, AliveCor, Cambridge Temperature Concepts and WorkSmart Labs will be wrapped into the new fund.
The formation of a subsidiary shows that there's strong demand in the sector -- with electronic medical records rapidly becoming a requirement, and mobile device adoption booming, this is unsurprising -- and that Qualcomm's wireless health business needed more independence.
Nonetheless, it comes down to data, and Qualcomm Life is working to make gains in the chronic disease department, where the burden of data collection can mount quickly. (One example: monitoring blood glucose levels for diabetics.)
Rapidly, the giants of the consumer technology industry are moving into applied technology.
This post was originally published on Smartplanet.com