EarlySense has a lot going for it so far. It's lined up regulatory signoffs in the U.S. and Europe for its monitor that works to continuously track vital signs and motion once placed under a patient mattress. And it's got a slew of strategic activity--already having attracted investment from and partnerships with Samsung, Welch Allyn and Mitsui.
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| The EarlySense sensor is placed under the mattress--Courtesy of EarlySense |
Now, the Israeli company, which was founded in 2004, has raised another $25 million to back its efforts--bringing its total to $100 million. This financing was led by Israel's largest bank, Bank Hapoalim, with participation from Pitango Venture Capital, JK&B Capital and other existing investors.
"We are experiencing exponential growth in the medical space and this funding enables us to continue to grow as well as launch consumer digital health offerings based on our medically proven technology," said EarlySense CEO Avner Halperin in a statement. "More than one hundred thousand patients will be monitored with our sensors this year, allowing for better care. There is a real need to bring these capabilities to individuals and their family members at home. In expanding the reach of EarlySense, we can potentially impact millions of lives in both the medical and wellness markets."
The EarlySense system enables tracking of patient heart rate, respiratory rate and movement via a sensor that's placed under the mattress. Data is continuously displayed on a bedside monitor and at nurse stations; the system incorporates algorithms to analyze cardiac, respiratory, sleep and motion parameters.
The system is already in use in hospitals and healthcare facilities globally. It is expected to enable the early detection of patient deterioration and the prevention of events such as preventable ICU transfers, patient falls and pressure ulcers.
EarlySense tech is also incorporated into several consumer health products, including Samsung's SleepSense, iFit's Sleep Sensor and Beurer's SE 80 Sleep Expert.
"We view EarlySense as a company with an outstanding opportunity to become the leading player in a fast-growing market," said Danny Koller, head of Financial Markets and International Banking at Bank Hapoalim. "This investment is well aligned with our portfolio and we are confident the company's management will leverage business opportunities, both independently and in cooperation with the world's leading companies, to continue to grow rapidly."
- here is the announcement
Special Report: FierceMedicalDevices' 2015 Fierce 15 - EarlySense