EarlySense Closes E Financing RoundNovember 13, 2012
The company plans to use the funding to further develop its contact-free, patient monitoring solutions and to expand clinical research.
WALTHAM, MA /BUSINESS WIRE/ -- EarlySense Ltd., a market leader in proactive patient care solutions, announced that it has completed a $15 million E financing round led by Pitango Venture Capital. Existing investors that participated include JK&B, ProSeed VC Fund, Docor International Management, and Bridge Investment Fund. EarlySense plans to use the financing to accelerate sales, further develop its contact-free, patient monitoring solutions, and to expand clinical research.
Mr. Ittai Harel, General Partner at Pitango Venture Capital and co-chairperson of EarlySense's Board of Directors said, "We believe that the EarlySense system has the potential to revolutionize patient monitoring within hospitals, long-term care facilities, and in the home. In the past 2 years, the company has made significant progress in establishing the clinical value of its system, as well as in sales and marketing. The financing today will be used to support global commercialization efforts by the company and is indicative of the board's confidence in the company's management team and vision."
Mr. Yossi Vinitski, a Managing Partner at the Etgar Challenge Fund and co-chairman of EarlySense's Board of Directors said, "EarlySense is bringing to market a world-class technology that helps medical teams save lives and cut costs. Nearly every day, we see proof of the positive impact that the EarlySense system is making in hospitals and rehabilitation centers across the U.S. and Europe. Throughout the history of the company, it has always been clear that EarlySense is a company to back. We continue to do so with great certainty."
EarlySense CEO Mr. Avner Halperin said, "We sincerely appreciate this vote of confidence by our investors. The financing announced today is an important step as it supports the growth of the company by accelerating our initiative to make millions of hospital and long-term care beds safer places for patients while concurrently empowering clinicians to provide more effective and efficient care."
EarlySense Ltd. is bringing to market an innovative technology designed to advance proactive patient care and enable clinicians to achieve better patient outcomes. The company's flagship product, the EarlySense system, is a continuous, contact-free, patient monitoring solution that monitors and documents a patient's vital signs and movement using a sensor placed underneath a bed mattress. There are no leads or cuffs to connect to the patient, who has complete freedom of movement and is not burdened by any irritating attachments. The system is designed to monitor non-ICU 'lower risk' patients on medical surgical floors, who are usually monitored by on-duty nurses once every 4 to 5 hours. The system is currently installed at hospitals and rehabilitation centers in the U.S. and Europe. It is also commercially available in Canada.
EarlySense Inc. is headquartered in Waltham, MA. Investors include Pitango Venture Capital, JK&B, Etgar Challenge Fund, ProSeed VC Fund, Docor International Management, Noaber, Bridge Investment Fund, and Peter Soderberg, Managing Partner of Worthy Ventures Resources LLC and former President and CEO of Hill-Rom Holdings Inc.
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