Healthsense Inc. is looking to raise $6.8 million from the sale of equity and warrants, according to documents filed with the Securities & Exchange Commission.
The company, based in Mendota Heights, Minn., makes remote home monitoring technologies for the elderly. Healthsense will use the money to fund working capital and development of new versions of its core eNeighborhood products, CFO Terry Barck said.
The eNeigborhood platform uses wifi technology to do everything from alerting nurses in case of emergencies to collecting real time patient data like weight, blood pressure, and blood oxygen levels.
Last year, Healthsense received a grant from the Defense Advanced Projects Agency to explore how its technologies can prevent elderly patients, especially ones that suffer from dementia, from entering costly nursing facilities.
The offering would net about $6.5 million for the company after sales commissions are deducted, according to the filing.