QT Medical – a medtech company focused on cardiac care technology – recently announced that it raised $12 million in Series B financing. This funding round will drive QT Medical’s market penetration, global expansion, product pipeline development, and long-term strategic planning. The Series B funding round was led by CDIB Capital and Taiwania Capital. And Cathay Capital, BE Capital, TMU Biomed, and existing investor, Quanta Computer, also joined the Series B round.
QT Medical is looking to provide improved cardiac devices and services to revolutionize the care of patients with heart disease. And its flagship product – which is called the Personal Cardiac Assistant (PCA 500) – is the only hospital-grade, resting 12-lead ECG device cleared by the FDA and CE marked for both professional and patient use. And this device is wireless, digital, cloud managed, weighs 2.3 ounces, and is less than 3 inches square in size. Plus, it is smaller than a deck of cards, fits in a shirt pocket or a mailing envelope, and utilizes phone/tablet apps.
This proprietary single-use self-adhesive sensor replaces traditional electrodes/wires. And PCA 500 is currently being used across the continuum of care including on commercial flights for inflight medical emergencies, in schools for detecting student athlete risks for sudden cardiac arrest, in clinical trials for cardiac safety testing, and in urgent care centers, nursing homes, hospitals, digital health clinics, and by thousands of patients at home for self-care supervised by physicians.
Resting 12-lead ECG is the most used medical test for screening, diagnosing, and monitoring heart disease. But traditional 12-lead ECG machines are bulky (requiring wheeled carts for mobility), inefficient, and can be used only by trained professionals. And single-lead ECGs like Apple Watch may be useful for arrhythmia detection, but unlike 12-lead ECGs, it cannot provide a comprehensive view of the heart for potential coronary artery disease, cardiomyopathy, myocarditis, and many other cardiac and non-cardiac conditions.
KEY QUOTES:
“Our vision is to improve heart health around the world by empowering people with new medical technologies which promote improved personalized care. The Series B funding will accelerate our process towards achieving this goal.”
“This financing round is crucial for us to accelerate growth and develop long-term strategies. We are changing the performance and delivery of cardiac care services by healthcare professionals and bringing this technology to millions of patients with heart disease for self-care at home.”
— Ruey-Kang Chang, MD, Chief Executive Officer of QT Medical
