Cardiac Insight said last week it closed its purchase of cardiovascular diagnostic developer Cardea Associates for an undisclosed amount.
Cardea’s flagship product is the CardeaScreen, a handheld 12-lead electrocardiogram device and software that Cardiac Insight says “provides a major breakthrough” in improving quality and reliability of ECGs to identify issues associated with sudden cardiac arrest in young athletes.
“Cardea Associates brings to market compelling ECG technologies that greatly enhance the ECG data for the purpose of finding potential life threatening conditions in young athletes. For years we have known ECG data plays an important role in distinguishing underlying cardiac risk, and the CardeaScreen product is aligned very well with our field of expertise, providing an excellent foundation for the introduction of our body worn sensing technologies,” Cardiac Insight CEO Brad Harlow said in prepared remarks.
Cardiac Insight said it is developing wearable ECG sensing technology to identify atrial fibrillation and other conditions. The company aims to produce sensor technology to “streamline the AF detection process” while reducing equipment costs.
“Today’s announcement is a benchmark event for Cardea Associates and the continued growth and utilization of the CardeaScreen product. With the strength of Cardiac Insight’s distribution partners we believe the CardeaScreen product will become the standard of care for ECG screening to measure the risk of sudden cardiac arrest in the athletic and medical markets,” Cardea Associates prez David Hadley said in a press release.
Last July, Cardiac Insight said it brought in $7 million in a funding round led by Welch Allyn which included a collaboration deal with the firm.
The round including contributions from WRF Capital and “other private investors,” according to a press release. Cardiac Insight said it plans to use the financing to continue developing its body-worn sensing and computing technologies, expand its research program and “accelerate” sales.