EarlySense raised $25 million
2 June, 2016
The company supplying health centers and retirement homes with contact-free, continuous monitoring solutions, intends to branch out to the consumer market
The company supplying health centers and retirement homes with contact-free, continuous monitoring solutions, intends to branch out to the consumer market. EarlySense’s sensor is integrated in Smasung’s sleeptracker SleepSense
Israeli developer of contact-free, continuous monitoring solutions EarlySense completed a $25 million funding round. The current funding round was led by Israel largest banking corporation “Bank Hapalim”. Since its foundation, the med-tech company raised more than $100 million from various companies and funds including Samsung, American med-tech supplier Welch Allyn and the Japanese Mitusi conglomerate. “We view EarlySense as a company with an outstanding opportunity to become the leading player in a fast-growing market. This investment is well aligned with our portfolio and we are confident the company’s management will leverage business opportunities, both independently and in cooperation with the world’s leading companies, to continue to grow rapidly,” commented the Head of Financial Markets and International Banking at Bank Hapoalim.
The capital raised in the current financing round will be used not only to expand the company’s med-tech endeavors, but also to develop a line of consumer market oriented products. These new products will be based on EarlySense’s monitoring technology, which today is used mainly in health centers, hospitals and retirement homes. “More than 100,000 patients will be monitored by our sensors this year, improving health and wellbeing. It is time to make the capabilities available for private people and their families” said EarlySense CEO Avner Halperin.
Continuous monitoring of the patients vitals
EarlySense develops contact-free, continuous monitoring solutions. The company’s monitoring systems, certified by US FDA and European CE, monitor the patients pulse, breath and mobility. The sensor, located under the patient’s mattress supply the medical staff with alerts and instructions aimed to prevent pressure ulcers and falls, as well as general notifications as to changes in the patient’s condition. The alerts are delivers simultaneously to a central command screed as well as to a portable devices used by the staff. The systems help to make rounds more efficient. This April, EarlySense announced a new add-on helping medical personal to diagnose Sepsis.
The company developed several further products such as a char sensor and a blood oxygen sensor.
A new goal – consumer market
EarlySense unique sensors are integrated in many home consumer oriented products developed by companies such as Samsung, Beurer and iFit. Smasung’s RealSense devie enables sers to monitor their sleeping patterns, supplying them sleep reports and tips via smartphones. The device can communicate with other smart-home and IoT device – for example, one can define different room temperatures for various hours, or turn the TV off when falling asleep.
In March, the company signed a distribution agreement with healthcare systems connectivity supplier myHealth Sentinel for the distribution of EarlySenses products in Singapore and Southeast Asia.