BOSTON--(BUSINESS WIRE)--
InfoBionic, a digital health company focused on patient-monitoring
solutions for chronic disease management, today announced the completion
of a $50 million financing to support continued commercial expansion of
its MoMe®
Kardia system for remote, wireless outpatient monitoring and
diagnosis of cardiac arrhythmias. The financing round includes
participation by Eagle
Investments; Excel
Venture Management; Safeguard
Scientifics; Zaffre
Investments, a subsidiary of Blue Cross Blue Shield of
Massachusetts; and Blue
Cross and Blue Shield of Kansas, Inc.
“We are pleased by the completion of the company’s latest financing
round which was based upon the strong market traction of our proprietary
MoMe® Kardia system,” said Stuart
Long, InfoBionic Chief Executive Officer.
“Since this time last year, the MoMe® Kardia system
month-to-month subscription growth rates have exceeded 35%”, Long added.
“Favorable marketplace developments, combined with our recently
announced US
distribution agreement for our system, should result in continued
customer traction and strong growth.”
The Company recently announced a commercial distribution partnership
that is expected to further enhance the penetration of the MoMe®
Kardia monitoring platform in the marketplace. The MoMe®
Kardia remote cardiac monitoring platform, which was granted 501(k)
clearance from the U.S. Food and Drug Administration in 2015, competes
in an addressable U.S. market estimated at $1.4 billion.
About InfoBionic
InfoBionic is a digital health company focused on creating superior
patient monitoring solutions for chronic disease management with an
initial market focus on cardiac arrhythmias. InfoBionic’s lead product,
MoMe® Kardia, is the only remote cardiac arrhythmia detection
and monitoring system that replicates in-hospital telemetry data, right
in the office, by giving physicians 24/7 on-demand access to full
disclosure Holter, Event, and MCT data via a HIPAA-compliant portal app.
For more information, visit www.infobionic.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180911005469/en/
InfoBionic
Media Contact:
Carla Nieser, 610-240-0400,
x118
c.nieser@voveo.com
Source: InfoBionic