Healthcare investor SV Life Sciences joined a ‘significant round of growth capital’ for medtech developer Bardy Diagnostics and its Carnation cardiac monitor and arrhythmia detection device.
The Charlotte, N.C.-based company’s Carnation ambulatory monitor is a non-invasive P-wave centric ambulatory cardiac monitor and arrhythmia detection device which the company touts as the world’s smallest and lightest device of its kind.
The device is designed to be worn by patients to record heart rhythms for extended periods of time, with a goal of producing clinically actionable arrhythmia diagnoses for more timely interventions.
“Through its clinically superior P-wave centric data capture, ergonomic engineering and design, and its flexibility to fit within varied healthcare workflows and business models, we’re confident that CAM will be rapidly adopted as a standard of care and that it will further our mission of improving the clinical efficacy of ambulatory monitoring and patient health. We’re very excited to add the expertise and capital of SVLS, HEP, AHV and Square 1 to our team and look forward to their support and assistance in executing the next phase of growth for the company,” BardyDx founder Dr. Gust Bardy said in a prepared statement.
“CAM addresses a true market need for a comfortable, clinically effective monitoring solution, and we look forward to working with our new investors to accelerate the Company’s market penetration and future development of CAM,” BardyDx CEO Jon Hunt said in a press release.
The round was led by SVLS and joined by Health Enterprise Partners, Ascension Ventures and Pacific Western Bank’s Square 1 Bank. Funds from the round will support continued development of the device, as well as sales and marketing of the CAM in the US and Europe, the company said.
“It’s a privilege to partner with Dr. Bardy on another of his compelling innovations in the diagnosis and treatment of cardiovascular disease. The Carnation Ambulatory Monitor represents a significant improvement over current technologies in how physicians diagnose and manage arrhythmias of all types,” SVLS managing partner Paul LaViolette said in prepared remark