SAN JOSE, Calif. – VitalConnect, a pioneering force in medical-grade wearable biosensor systems, has announced the successful closing of $33 million in Series C Preferred Stock equity financing. This significant funding round was spearheaded by new investors Mvm Life Science Partners, a leading global healthcare investment firm, and Baxter Ventures, the venture capital arm of Baxter International. The capital infusion is strategically aimed at accelerating the commercialization of the VitalConnect Platform, poised to revolutionize patient monitoring both within hospital settings and in-home care environments.
Dr. Nersi Nazari, Chairman and CEO of VitalConnect, emphasized the transformative potential of this funding, stating, “The integration of wearable biosensors into the evolving healthcare landscape will fundamentally reshape patient care paradigms in hospitals and unlock unprecedented virtual care opportunities.” He further elaborated, “Biosensors, when coupled with sophisticated data analytics platforms, present a unique opportunity to enhance patient outcomes while simultaneously driving down costs for healthcare providers – a mutually beneficial scenario for both patients and the healthcare system.”
The cornerstone of the VitalConnect Platform is the VitalPatch® biosensor, an innovative lightweight, wireless, and adhesive patch. This discreet device continuously monitors and records eight essential patient vital signs, providing a comprehensive and real-time view of patient health. The VitalConnect Platform seamlessly integrates the VitalPatch biosensor with intuitive mobile and cloud-based software and advanced analytics. This integration enables round-the-clock patient monitoring across diverse care settings, ensuring continuous oversight regardless of location. Patients benefit from the comfort and unobtrusiveness of the VitalPatch, while healthcare providers gain access to unparalleled insights into patient health trends, empowering them to make critical decisions with greater precision and timeliness. Early implementations of the VitalConnect Platform in hospitals across the United States and select global locations have already demonstrated significant promise, yielding high levels of patient satisfaction and improved economic efficiencies for healthcare facilities.
The robust Series C funding round underscores the strong market demand for disruptive healthcare solutions. Anne Sissel, Vice President and Head of Baxter Ventures, commented, “VitalConnect offers a truly innovative biosensor and monitoring solution that has the potential to enable predictive and personalized patient care. Baxter Ventures is excited to invest in VitalConnect and support their forward-thinking approach to enhancing patient care.”
In conjunction with this investment, Dr. Stephen Reeders, founder of MVM Life Science Partners, will be joining VitalConnect’s Board of Directors. Dr. Reeders remarked, “MVM Life Science Partners has been actively seeking a wireless technology capable of delivering superior patient care and a compelling return on investment for providers across various healthcare environments. We are confident that VitalConnect embodies these qualities.” This statement highlights MVM Life Science Partners‘ strategic focus on identifying and supporting companies that offer innovative solutions with both clinical and economic benefits in the healthcare sector.
About VitalConnect, Inc.
VitalConnect is at the forefront of wearable biosensor technology, dedicated to advancing wireless hospital and remote patient monitoring. By leveraging deep expertise in bioengineering, data analytics, chip design, and mobile and cloud software, VitalConnect creates technologies that empower data-driven decision-making, leading to improved health outcomes and economic efficiencies. VitalConnect’s product suite is designed for broad applicability across inpatient and outpatient settings, including hospital monitoring, post-discharge care, cardiac monitoring, and pharmaceutical solutions. For further details, please visit: www.staging.vitalconnect.flywheelsites.com.
About MVM Life Science Partners LLP
MVM Life Science Partners LLP, established in 1997, is a distinguished global healthcare Venture Capital / Private Equity firm with offices in London and Boston. Managing four funds with a total capital exceeding US$700 million, MVM Life Science Partners invests across the spectrum of the Life Sciences market. Their investment portfolio spans biopharmaceuticals, diagnostics, drug delivery, gene therapy, medical devices, OTC medicines, research tools, and vaccines. The MVM Life Science Partners team brings extensive experience in both the Life Science and Venture Capital / Private Equity sectors. For more information, please visit: www.mvm.com.
About Baxter International, Inc.
Baxter International Inc. provides a comprehensive portfolio of essential renal and hospital products. Their offerings include home, acute, and in-center dialysis; sterile IV solutions; infusion systems and devices; parenteral nutrition; biosurgery products and anesthetics; and pharmacy automation, software, and services. With a global presence and a focus on critical healthcare needs, Baxter plays a vital role in expanding access to healthcare in both emerging and developed nations. Baxter Ventures actively seeks out companies with promising technologies, products, and therapies, providing them with the necessary capital and expertise to foster successful innovation. For more information, please visit: www.baxter.com.
Contact: Laura Baumgartner, 630-299-9616, [email protected]
