Heart failure medical device developer ReThink Medical said today it raised $3 million in a Series A funding round, with funds slated to support clinical trials and further technology development.
The company is developing proprietary algorithms to predict worsening conditions in heart failure patients and alert physicians to take proactive measures for their patients. ReThink claims it can prevent potential hospitalization and “change the trajectory of heart failure patients.”
“It’s clear that ReThink Medical’s proactive approach and technology will help drive down costs, improve quality of life, and create better outcomes for patients and health care providers in a field craving innovative solutions,” Norwich Venture founder & managing director Aaron Sandoski said in a prepared statement.
The round was led by equity firm Emergent Medical Partners and joined by Norwich Ventures and Launch Capital. As part of the round, EMP managing director Bob Brownell will join ReThink Medical’s board of directors.
“Emergent is extremely experienced in terms of bringing innovative ideas to fruition within the medical arena and we are excited to be aligned with them and our other investors to fundamentally enrich patient care using technology. We are thankful to have a partner on board that provides us not only capital but also vast strategic experience in our market,” CEO Reza Naima said in a press release.
The San Francisco-based company said it has also won 2 National Institutes of Health grants, as well as a strategic partnership with Terumo.