Oxford BioSignals Medical is expected to announce an expansion of its Carmel headquarters this afternoon, according to Indiana Economic Development Corp.
Oxford has seven employees.
Formed in 2000, Oxford BioSignals began its life when research scientists in the United Kingdom developed a new system to electronically monitor the performance of aircraft engines. By continuously monitoring indicators such as oil pressure, temperature, speed of vibration and noise, it can instantly diagnose problems—or detect potential ones days or months ahead of a breakdown.
In 2003, Rolls-Royce signed a 10-year strategic purchase agreement and began testing the technology in Indianapolis. Along the way, Oxford BioSignals realized that its system also could be applied to monitor human health.
So the company reconfigured the technology to simultaneously observe the results of medical machines that observe heart rates, blood pressure, breathing rates and the saturation of oxygen in the blood. Along the way, Oxford BioSignals attracted $20 million in venture capital from a syndicate of U.K. investors.
The company conducted a clinical trial at Methodist Hospital to show the technology can help eliminate false emergency alerts. More than 80 percent of hospital alerts are false alarms. Oxford BioSignals’ analytics software also churns all the data to predict whether a health crisis is imminent.