The company will use the investment to expand its product specialist and client engagement teams.
Health informatics and data collection company Medical Informatics announced its receipt of $27 million, made up of a $17 million Series B round plus $10 million in debt.
The equity round was co-led by Catalio Capital Management’s venture capital strategy and Intel Capital, while Catalio Capital Management led the additional $10 million debt through its structured equity strategy.
New investors joined in the round, including Notley and TGH Innoventures, with participation from existing investors TMC, DCVC and nCourage.
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WHAT IT DOES
The Texas-based company’s SaaS-based Sickbay Clinical Platform, which received 510(k) clearance in 2015, provides hospitals with real-time waveform data from bedside devices. The data enables remote monitoring “from hospital to home.” Providers can fuse that data with information from EHRs and other systems.
The company says the newly received funds will help aid in growth and help with adding product specialists and client engagement members to its team in order to support strategic client partnerships.
As part of the round, Jonathan Blankfein, principal at Catalio, will join Medical Informatics’ board of directors, and Dr. Diamantis Xylas, Catalio’s head of research, will join as a board observer.
“With Catalio’s technical resources and Intel Capital’s operational experience, along with new investor TGH Innoventures’ valuable industry understanding, we feel poised to continue to expand our services and improve care for patients around the world,” Medical Informatics’ cofounder and CEO Emma Fauss told MobiHealthNews in an email.
MARKET SNAPSHOT
Companies focusing on various types of remote patient monitoring have announced large funding rounds in 2022, including real-world data analytics company Verana Health, which scooped up $150 million in Series E funding in January. That round brought its total raise to more than $288 million.
Newport Beach, California-based startup VivoSense, a platform that helps stakeholders integrate wearable sensors into clinical trials to help monitor digital biomarkers, scored $25 million in a Series A funding round in March.
California-based health analytics data company Evidation Health, garnered $153 million in 2021 to expand its real-world data platform.
The San Mateo-based company combines real-world patient data from multiple sources, including Apple Health, Fitbit, Epic and Dexcom, to assess care. It also offers an app and platform together named Achievement, positioned as a research tool that allows patients to add their real-world health data for studies.
