VitalConnect, a San Jose, CA-based medical-grade wearable biosensor systems, closed a $33m Series C equity financing.
The round was led by new investors MVM Life Science Partners and Baxter Ventures, the venture arm of Baxter International. As part of the transaction, Dr. Stephen Reeders, MVM founder, will join the VitalConnect Board of Directors.
The company intends to use the funds to further commercialize its platform.
Led by Dr. Nersi Nazari, Chairman and CEO, VitalConnect is a leader in wearable biosensor technology for wireless hospital and remote patient monitoring. The company leverages extensive expertise in bioengineering, data analytics, chip design, and mobile and cloud software, to create technology products designed for use in a broad range of inpatient and outpatient settings for hospital monitoring, post discharge care, cardiac monitoring and pharmaceutical solutions.
The VitalPatch® wearable biosensor is a lightweight, wireless, adhesive patch that continuously monitors and records eight patient vital signs. The VitalConnect Platform integrates the VitalPatch biosensor with mobile and cloud-based software and analytics so patients can be monitored around the clock and across care settings. The platform is already being implemented in hospitals across the United States and select locations globally.