Wearable biometric diagnostic patch company VitalConnect said yesterday it raised a total of $25 million through the closure of a loan facility and an extended Series B financing round to support the commercialization of its HealthPatch MD and VitalPatch biosensors.
The company said it closed a term loan facility for $17.5 with Perceptive Advisors, with $10 million funded yesterday at its initial closing. Armentum Partners acted as a financial advisor to VitalConnect for the rounds.
San Jose, Calif.-based Vital Connect said it also extended its Series B round, bringing in an additional $7.8 million of equity and raising the total funding in its Series B up to $22.1 million.
“Virtual patient monitoring with wearable biosensors is evolving into an important method of care delivery for hospitals and doctors. These additional financings confirm that biosensors are the foundation for improving patient care and the speed of medical response that will lead to better outcomes for future patients,” CEO Dr. Nersi Nazari said in a press release.
VitalConnect’s devices can return multiple measurements in a single biosensor patch, including single-lead ECG data, heart rate, RR interval, heart rate variability, respiratory rate, skin temperature, body posture, fall detection and activity including steps, according to the company’s site.
Last June, VitalConnect raised $18 million to support its biosensors, according to an SEC filing from the company. Funds from the round came from 27 unnamed investors.