New investor Ally Bridge Group led the financing, with significant participation coming from existing investors. Those include EW Healthcare Partners, MVM and Revelation Partners. Trinity Capital provided the debt financing.
In conjunction with the financing, the company added Steven Plachtyna from Ally Bridge Group and Eric Shiozaki from Revelation Partners.
VitalConnect develops the VitalPatch biosensor that monitors patients and detects multiple health problems. According to the company, the platform reduces hospital workloads by enabling home monitoring. Patients who prefer to move freely could use the comfortable, state-of-the-art cardiac monitoring device. It has demonstrated the same effectiveness and quality as existing hospital- or home-based devices.
VitalPatch, the company’s flagship product, is a small, easy-to-wear biosensor that monitors parameters including heart rate, respiration rate and body temperature. It also detects arrhythmia. The VitalPatch works in conjunction with VistaCenter, a cloud-based program. VistaCenter shows patient-generated data in real-time and enables notifications 24/7.
“Four years after our commercial launch, VitalConnect has grown to be a leader in ambulatory cardiac monitoring,” said Peter Van Haur, VitalConnect CEO. “Our best-in-class proprietary biosensor, coupled with the live streaming of eight vital signs and biometric parameters over a seven-day wear period, sets VitalConnect apart from the competition. Additionally, we continue to develop our in-patient remote patient monitoring offering in close collaboration with some of the leading healthcare facilities in the US. With the support of Ally Bridge and Trinity Capital, in addition to our existing investors, we are excited to expand our commercial presence, providing more patients with access to our life-saving technology.”
