Somanetics
{{Short description|United States based provider of medical devices}}
{{Infobox company
| name = Somanetics
| logo = File:Somanetics Logo.jpg
| type =
| industry = Medical equipment
| fate = Merged with Medtronic
| predecessor =
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| founded = {{Start date and age|1982}}
| founder = Gary Lewis
| defunct =
| hq_location_city = Troy, Michigan
| hq_location_country =
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| owner =
| num_employees =
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| parent = Medtronic
| website =
}}
Somanetics was a medical devices company founded in 1982 then acquired in 2010 by Covidien. The company pioneered the INVOS technology used to measure level of blood oxygenation for patients undergoing surgical procedures. After a series of acquisitions, the company's brand name and assets are currently owned by Medtronic, which still produces INVOS-branded sensors and monitors.
History
Somanetics was founded in 1982 by Gary Lewis to market monitoring technology that could detect blood oxygenation levels in the cranium, arms, and legs. Lewis raised $150,000 from friends and family to launch the company, before turning to venture capitalists for additional funding.{{cite news|title=Medical instruments promising growth industry in state|work=Jackson Citizen Patriot|access-date=10 April 2025|date=7 February 1993|url=https://www.newspapers.com/article/jackson-citizen-patriot-somanetics-med/169998142/}} This technology was marketed under the name "INVOS", an abbreviation for In Vivo Optical Spectroscopy. The company's stock was traded on the NASDAQ market under the stock symbol SMTS.{{cite web|title=Somanetics 2008 Annual Report|url=https://www.sec.gov/Archives/edgar/vprr/0900/09002404.pdf|access-date=14 March 2025}}{{cite news|title=Profit bolsters biotech firm|work=Detroit Free Press|access-date=10 April 2025|date=22 February 2004|url=https://www.newspapers.com/article/detroit-free-press-somanetics-profit-b/169997504/}}{{cite news|title=Brain-oxygen gauge excites doctors, financial community|work=The Herald-Palladium|access-date=10 April 2025|date=23 June 1991|url=https://www.newspapers.com/article/the-herald-palladium-somanetics-brain/169998330/}}
In March of 1991, Somanetics held an initial public offering and raised $4.5 million in investment funding.{{cite news|title=High-tech company wowed investors--not government|work=Detroit Free Press|access-date=10 April 2025|date=24 April 1994|url=https://www.newspapers.com/article/detroit-free-press-somanetics-high-tec/170017550/}}
In May of 1993, Somanetics began marketing the INVOS 3100 after receiving FDA approval. In November of 1993, the FDA revoked the marketing license for the INVOS 3100 due to concerns about the clinical trial data submitted in the 510(k).{{cite news|title=High-tech company wowed investors--not government|work=Detroit Free Press|access-date=10 April 2025|date=24 April 1994|url=https://www.newspapers.com/article/detroit-free-press-somanetics-high-tec/170017591/}}
In 1996, Somanetics received approval from the FDA to market the INVOS 3100A system in the United States.{{cite web|title=FDA Submission K960614|url=https://www.accessdata.fda.gov/cdrh_docs/pdf/K960614.pdf|access-date=14 March 2025}}
In 2000, Somanetics received approval from the FDA to market the INVOS 5100 system in the United States.
In 2006, Somanetics received approval from the FDA to expand use of the INVOS monitor from the cranium to other parts of the body.{{cite news|title=Medical device wins wider use|work=Detroit Free Press|access-date=10 April 2025|date=17 August 2006|url=https://www.newspapers.com/article/detroit-free-press-somanetics-medical/169998762/}}
In 2008, Somanetics acquired a company called ICU Data Systems, based out of Gainesville, Florida for $2 million. ICU Data Systems had a patented design for a bedside monitor named "Vital Sync" that could integrate data from other medical devices, such as ventilators and infusion pumps. That year, Somanetics also received FDA approval to market the INVOS 5100C system in the United States.{{cite web|title=FDA Submission K080769|url=https://www.accessdata.fda.gov/cdrh_docs/pdf8/K080769.pdf|archive-url=https://web.archive.org/web/20100120043750/http://www.accessdata.fda.gov/cdrh_docs/pdf8/K080769.pdf|url-status=dead|archive-date=January 20, 2010|access-date=14 March 2025}}
As of 2009, the INVOS monitoring system was being used in 700 hospitals in the United States and 1200 hospitals outside of the United States.{{cite news|title=Medical sensor maker's vital signs show healthy growth|work=Detroit Free Press|access-date=10 April 2025|date=26 April 2009|url=https://www.newspapers.com/article/detroit-free-press-somanetics-medical/169999148/}}
In May of 2010, Somanetics received FDA approval to expand features on the Vital Sync monitor, allowing the device to interface with a more types of medical devices, display of derived parameters, and mechanism to alert clinicians when parameter measurements exceeded configured thresholds.{{cite web|title=Somanetics Receives 510(k) Clearance From the FDA to Expand Features on Its Vital Sync Monitor|url=https://www.prnewswire.com/news-releases/somanetics-receives-510k-clearance-from-the-fda-to-expand-features-on-its-vital-sync-monitor-94738969.html|access-date=14 March 2025}}
In 2010, Somanetics agreed to be acquired by Covidien for $250 million.{{cite web|title=Covidien Announces Definitive Agreement to Acquire Somanetics Corporation|url=https://www.sec.gov/Archives/edgar/data/1385187/000119312510140321/dex991.htm|access-date=14 March 2025}}{{cite web|title=On Eve Of Buyout, Somanetics Net Slips - CBS Detroit|url=https://www.cbsnews.com/detroit/news/on-eve-of-buyout-somanetics-net-slips/|access-date=14 March 2025}}Later that year, Somanetics announced that it would close its Michigan and Florida operations as part of its acquisition by Covidien.{{cite web|title=Somanetics Corp. to shut down Michigan, Florida operations|url=https://www.crainsdetroit.com/article/20101027/FREE/101029858/somanetics-corp-to-shut-down-michigan-florida-operations|access-date=14 March 2025}}
In 2015, Medtronic acquired Covidien and inherited all brands, including INVOS.{{Cite web|url=https://www.medtronic.com/covidien/en-us/index.html|title=Medtronic Minimally Invasive Therapies|website=www.medtronic.com|access-date=2020-04-01}}
As of 2025, Medtronic is still producing INVOS sensor and monitor products for the healthcare industry.