VitalConnect Secures $100M in Funding to Advance Wearable Cardiac Monitoring Technology

VitalConnect, a leading player in the wearable cardiac monitoring space, has successfully raised $100 million in a new funding round. The San Jose, California-based company plans to utilize this capital to further develop its in-hospital wireless patient trackers and expand its commercial efforts.

Funding Details and Investor Participation

The funding round comprises a mix of equity and debt financing. Ally Bridge Group led the equity portion as a first-time investor, with participation from existing backers EW Healthcare Partners, MVM, and Revelation Partners. Trinity Capital provided the debt financing component.

As part of the investment, Steven Plachtyna from Ally Bridge and Eric Shiozaki from Revelation Partners have joined VitalConnect's board of directors. This move strengthens the company's leadership and strategic guidance as it enters its next phase of growth.

VitalPatch: Advancing Ambulatory Cardiac Monitoring

VitalConnect's flagship product, the VitalPatch, is a wearable device designed for extended cardiac monitoring. Key features of the VitalPatch include:

• Up to seven days of continuous wear
• Capability to log eight different vital signs
• Single-lead ECG for measuring heartbeat changes and potential arrhythmias
• Additional sensors for recording body temperature and breathing

Peter Van Haur, CEO of VitalConnect, commented on the company's progress, stating, "Four years after our commercial launch, VitalConnect has grown to be a leader in ambulatory cardiac monitoring. Additionally, we continue to develop our in-patient remote patient monitoring offering in close collaboration with some of the leading healthcare facilities in the U.S."

Future Directions and Market Position

With this substantial influx of capital, VitalConnect is well-positioned to accelerate its growth in the competitive wearable health monitoring market. The company's focus on both ambulatory and in-patient solutions demonstrates its commitment to providing comprehensive cardiac monitoring across various healthcare settings.

As the demand for remote patient monitoring solutions continues to rise, VitalConnect's enhanced financial position and strategic partnerships with leading healthcare facilities could play a crucial role in shaping the future of cardiac care and hospital-at-home initiatives.