Devicare, a Cerdanyola del Vallès, Barcelona, Spain-based medical device company, has signed a participative loan worth €2m from the Innova Global line by Avançsa.
The loan also has an option to convert the investment into Series A stock in the mid-term.
The company intends to use the proceeds for the strategic development and validation plan of new medical solutions under the Remote Patient Monitoring concept, as well as the corresponding clinical studies and trials for the expansion throughout the European and North American markets.
Devicare specializes in the development of innovative solutions and medical devices for the home care of chronic patients. It is developing a patented technology using sensors to measure biometrics in breath and body fluids such as blood, sweat, saliva and urine which can be exported for the prevention and treatment of different diseases.
Currently, the company offers two product lines:
– Lit-Control® for the prevention and self-management of recurrent urinary diseases and
– Tao-Control® for self-management of patients taking anticoagulants (medicines such as Sintrom® or Aldocumar®).