A California company nearing the approval stage for its electrophysiology system is setting up new headquarters in Golden Valley to get closer to the medical-device talent in the Twin Cities.
BioSig Technologies is slated to move its executive offices to 8441 Wayzata Blvd. in Golden Valley. The company plans to leave its engineering staff in place in the Los Angeles area, but move its key executives to Minnesota and start hiring locally.
"It's a very good environment for companies such as ours to attract and recruit top talent in what is a very specialized field," said BioSig Chief Executive Greg Cash, who lives in the Twin Cities and has worked at Medtronic and Boston Scientific. "We expect to hire maybe a dozen people over the next several months. As we approach commercialization, we will obviously be stepping up that hiring rate."
BioSig is developing a computer system that can read the data from a hospital's electrophysiology lab and filter out the noise from other machines in the operating theater. Providing a cleaner signal should allow doctors to improve the accuracy of procedures in which they burn away part of the heart to correct abnormal heartbeats.
About 47 percent of patients who get cardiac ablation for their atrial fibrillation have to come back for a second treatment because the doctor didn't zap the right location the first time. Cash said background machine noise in the labs may contribute to the problem.
The company plans to submit for clearance from the Food and Drug Administration by the end of the year for its Pure EP System, which will compete in the market against other electrophysiology-recording systems that cost about $250,000 apiece. About 1,400 hospitals across the country contain an average of two electrophysiology labs each.