VitalConnect bumps up series C to $38M

Money
VitalConnect is partnering with Mercy to launch its wearable patient-monitoring system in Mercy hospitals.

VitalConnect, a patient-monitoring player, has increased its total series C funding from $33 million to $38 million in the final close of that round. MVM and Baxter Ventures led the round, while Mercy also participated.

San Jose, California-based VitalConnect markets the VitalPatch, which is a small, wireless sensor that continuously tracks eight vital signs in real time: skin temperature, breathing rate, posture, motion, including falls, ECG, heart rate and variability in heart rate. It is powered by a disposable zinc battery, which can last up to four days, and was launched in March last year.

The VitalConnect platform then integrates these data into a cloud-based system, where it is analyzed. Healthcare professions may then view it on a mobile device or a computer.

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“The integration of wearable biosensors into existing and emerging healthcare environments will change the care paradigm within hospitals as well as enable virtual care opportunities that were never before possible,” said VitalConnect CEO Nersi Nazari in May, at a previous close of the series C round. “Biosensors, when paired with sophisticated data analytics platforms, have the unique opportunity to enable better care for patients while reducing costs for hospitals—a win for both patients and providers.”

VitalConnect is partnering to roll out its platform and wearable biosensor in Mercy hospitals. The company plans to launch its system in more hospitals and outpatient settings.

“We have a common goal with VitalConnect around saving lives and providing better care to patients. The initial rollout and ongoing commitment to optimize workflow and patient engagement for hospital and outpatient populations made it an easy decision for us to invest in the continued growth of VitalConnect,” said Scott Alexander, vice president, Innovation & Product Development, Mercy.

In addition to the $33 million already banked in the series C, VitalConnect raised up $17.5 million in debt from Perceptive Advisors and picked up $7.8 million to bring its series B total to $22.1 million.

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