VitalConnect announced the closing of $100 million in financing through a combination of equity and debt capital.
The company's products are designed for use in a range of remote and in-patient settings. Its VitalPatch is a disposable wearable device that connects to the company's platform and provides vital data including heart rate and respiratory rate. It doesn't require any charging or assembly, and it's flexible and waterproof, making it more convenient for patients.
“Four years after our commercial launch, VitalConnect has grown to be a leader in ambulatory cardiac monitoring,” said Peter Van Haur, Chief Executive Officer of VitalConnect. “Our best-in-class proprietary biosensor, coupled with the live streaming of eight vital signs and biometric parameters over a seven-day wear period, sets VitalConnect apart from the competition. Additionally, we continue to develop our in-patient remote patient monitoring offering in close collaboration with some of the leading healthcare facilities in the US. With the support of Ally Bridge and Trinity Capital, in addition to our existing investors, we are excited to expand our commercial presence, providing more patients with access to our life-saving technology.”
“Ally Bridge Group is pleased to lead this financing to accelerate VitalConnect’s growth, appreciating the company’s highly differentiated strengths in addressing conditions that significantly affect quality of life for millions of patients,” said Steven Plachtyna of Ally Bridge Group. “Vital Connect is well-positioned to continue its strong growth trajectory as a leading innovator in remote patient monitoring.”
