The George Institute was a finalist in the Johnson and Johnson Eureka Prize for Innovation in Medical Research for developing the world’s first affordable dialysis system which could save millions of lives each year.

Executive Director Vlado Perkovic said it was reflection on the huge need for an overhaul of dialysis and the result of a global team effort.

Professor Perkovic said: “To be a finalist is a fantastic achievement. It was only two years ago that we set out on a mission to change the way dialysis is delivered globally. Every year seven million people die because they cannot afford this life-saving treatment. Innovation in this area is urgently required, and is now within reach.

The team at the Australian Museum gala dinner also included inventor Vincent Garvey, George Institute kidney specialist Professor John Knight and International Society of Nephrology president Professor David Harris, from Westmead Hospital. The fifth member of the winning team is Professor Vivek Jha, head of The George Institute in India.

In 2015 The George Institute created a consortium to launch a competition to design the world’s affordable dialysis machine.

The winner was engineer, Vincent Garvey, who created an innovative system comprised of a water purifier, care station and solar panel.

Miniaturising aspects of existing dialysis systems, and combining this with technology from wearable devices and drones has allowed a breakthrough approach to be developed.

Each machine can be mass produced for US$850 and can provide dialysis for up to five people and is so small it can fit into a suitcase so is fully portable. It can also run off solar power and any water source.