Monarch Medical Technologies, a Charlotte, NC-based digital health company, received a $5M in investment from Semler Scientific (Nasdaq: SMLR).
Semler Scientific, which provides technology solutions to improve the clinical effectiveness and efficiency of healthcare providers, made the investment through the purchase of a senior secured convertible promissory note. Repayment of the note is secured by a first priority interest in all of Monarch’s assets. The investment in Monarch complements Semler Scientific’s offering of Insulin Insights™, a glycemic management software application that healthcare providers can use to optimize outpatient insulin dosing for persons with diabetes.
The company intends to use the funds to accelerate growth, expand operations and its business reach.
Monarch Medical Technologies is a digital health company committed to helping hospitals and health systems deliver optimal glycemic management for critical care and non-critical care patients alike. Its FDA-cleared EndoTool Glucose Management System is designed specifically to displace traditional manual methods of insulin dosing with a software application that integrates with all major EMR systems. This clinical decision support platform offers both intravenous and subcutaneous modalities and has been shown to safely and reliably achieve and maintain target glucose goals while reducing incidence of hyperglycemia and hypoglycemia. Specialized features help clinicians address the complexities surrounding diabetic ketoacidosis (DKA), hyperosmolar hyperglycemic nonketotic syndrome (HHS), gestational diabetes, kidney function, residual insulin, and presence of steroids.
The software-as-a-service solution is FDA 510(k) cleared, patent protected and installed at more than 100 health systems across the United States.
FinSMEs
13/12/2022