AliveCor today announced a Series F financing led by GE Healthcare.
The FDA-cleared personal electrocardiogram tech company did not disclose the size of the funding round. NGK-NTK, through a CVC partnership with Pegasus Tech Ventures, also joined the round. The round also included existing investors Khosla Ventures, Bold Capital Partners, Qualcomm Ventures and WP Global Partners.
The infusion of funds from GE comes five months after GE Healthcare and AliveCor announced a partnership. People with an AliveCor KardiaMobile 6L ECG device outside of the hospital can have their data go directly to GE Healthcare’s Muse cardiac management system. Physicians can then view and evaluate the information. The is to hopefully spot atrial fibrillation and other cardiac conditions before they send someone to the hospital.
“GE Healthcare is committed to providing advanced technologies that better connect data and create actionable insights for clinicians to serve patients in and out of the hospital,” said Tom Westrick, president and CEO of GE Healthcare’s Patient Care Solutions business.
Westrick, who will join AliveCor’s board of directors, added: “This strategic partnership with AliveCor deepens our ability to deliver connected care enabling clinicians to make faster, more informed decisions and help improve patient outcomes.”
AliveCor CEO Priya Abani said the funding round will accelerate growth into new strategic sectors and markets. To date, Mountain View, California–based AliveCor has served more than 2 million customers. It’s recorded more than 160 million ECGs globally.
Wearable ECG monitors are a hot space in medtech. A host of companies seek to provide a better alternative to the traditional Holter monitors that physicians have had strapped onto their patients when suspecting AFib. Other companies competing in the space include iRhythm and Baxter’s Bardy Diagnostics.