Somanetics was a medical device 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.[1] 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.[2][3][4]