VitalConnect, a San Jose, CA-based developer of medical-grade wearable biosensor systems, raised $25.3m in funding.
Perceptive Advisors provided a $17.5m term loan facility, of which $10m was funded today at initial closing. The company also recently extended its Series B round to raise an additional $7.8m of equity capital taking the total raised to date in the Series B round to $22.1m.
The combined funding will allow VitalConnect to commercialize the HealthPatch®MD and VitalPatch™ biosensors for patient monitoring in the hospital and at home.
Led by Dr. Nersi Nazari, Chairman and CEO, VitalConnect currently markets the VitalConnect Platform that includes two wearable biosensors combined with mobile and cloud-based software and analytics. HealthPatch®MD and VitalPatch™ biosensors are wireless, adhesive patches that continuously monitor and record single lead ECG, heart rate, heart rate variability, respiratory rate, skin temperature, posture, step count and fall detection with clinical accuracy. Through the VitalConnect Platform, care teams receive accurate data and notifications to make health decisions and enable timely interventions.