VitalConnect, a biosensor technology leader specializing in ambulatory cardiac monitoring, announced the closing of $100 million in financing through a combination of equity and debt capital. The equity funding was led by new investor Ally Bridge Group, with significant participation from the Company’s existing investors, including EW Healthcare Partners, MVM and Revelation Partners while Trinity Capital provided the debt financing.
Vital Connect utilizes extensive expertise in biomedical engineering, data analytics, chip design, and mobile and cloud software to create technology that supports decision-making paradigms that achieve better health and economic outcomes. VitalConnect’s products are designed for use in a broad range of remote and in-patient settings. Plus, VitalConnect’s advanced yet easy-to-use platform was designed to deliver better healthcare at lower costs while providing more convenience for patients and healthcare providers.
In connection with the financing, VitalConnect strengthens its Board of Directors by adding Steven Plachtyna from Ally Bridge Group and Eric Shiozaki from Revelation Partners.
KEY QUOTES:
“Four years after our commercial launch, VitalConnect has grown to be a leader in ambulatory cardiac monitoring. 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.”
– Peter Van Haur, Chief Executive Officer of VitalConnect
“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. Vital Connect is well-positioned to continue its strong growth trajectory as a leading innovator in remote patient monitoring.”
– Steven Plachtyna of Ally Bridge Group
“We’re excited to support VitalConnect and its innovative remote patient monitoring technology to enhance patient outcomes at a lower cost.”
– Ryan Kaeding, Managing Director, Life Sciences at Trinity Capital
