Healthcare Industry News: Baxter Ventures
News Release - October 31, 2017
VitalConnect Raises $38 Million in a Series C Equity Financing RoundCompany created lightest, real-time, FDA Class 2 wearable biosensor for healthcare
SAN JOSE, Calif., Oct. 31, 2017 -- (Healthcare Sales & Marketing Network) -- VitalConnect, Inc., a leader in wearable biosensor technology for wireless monitoring in hospital and remote patient populations, today announced the fourth and final Series C closing, bringing the total Series C round to $38 million. The round was led by MVM and Baxter Ventures. VitalConnect is launching the VitalConnect Platform and VitalPatch wearable biosensor in hospitals and outpatient settings across the nation.
VitalConnect combines the most sophisticated biosensor - the VitalPatch - with its comprehensive software platform that is already being implemented in select hospitals. The VitalPatch is the smallest and lightest Class 2 medical device approved by the U.S. Food and Drug Administration (FDA) that measures eight different vital signs continuously and in real time, enabling unprecedented insight into patient health and vitals. The band-aid-like biosensor patch is single use and fully disposable.
"We envision a hospital of the future where inpatient and outpatient care needs integrate more seamlessly to enable a patient-centric model of care that is truly preventative and real-time. Our close of $38 million in total financing this year will help drive our continued product development and rollout," said Nersi Nazari, CEO and founder, VitalConnect.
VitalConnect launched in 2011 and raised Series A funding of $12 million that year, and subsequently closed a $22 million Series B round in 2016.
About VitalConnect, Inc.
VitalConnect is a leader in wearable biosensor technology for wireless patient monitoring in both hospital and remote patient populations. VitalConnect leverages extensive expertise in biomedical engineering, data analytics, chip design, and mobile and cloud software to create technology that supports decision-making paradigms that achieve better health and economic outcomes. VitalConnect's products are designed for use in a broad range of inpatient and outpatient settings, such as hospital monitoring, post discharge care, cardiac monitoring and pharmaceutical solutions. For more information: www.vitalconnect.com.
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