SEDLine, Inc., a newly-formed company formerly operated by Hospira, Inc., has received a $3.5m strategic investment from Masimo Corporation (Nasdaq: MASI), a developer of innovative monitoring technologies.
Under terms of the investment agreement, Masimo may increase its investment subject to certain financial and development milestones.
SEDLine’s mission is to expand the scope and applications for neuromonitoring.
Its core product, a four-channel brain-function monitor that measures the effects of anesthesia and sedation by simultaneously analyzing, quantifying and displaying both sides of the brain’s electrical activity, is currently in use at some of the nation’s leading healthcare institutions.
Masimo’s investment will allow the Irvine, California-based company to continue to support its existing customers, market to new customers, and expand its research and development efforts.