US-based cardiac monitor developer Bardy Diagnostics secured an undisclosed but “significant” amount of growth financing from investors including Ascension Ventures, a corporate venturing subsidiary of healthcare provider Ascension.
The round included venture capital firm SV Life Sciences Advisers, private equity firm Health Enterprise Partners and Square 1 Bank, a branch of financial services firm Pacific Western Bank.
Although the precise amount received by Bardy in the round was not revealed, a regulatory filing in October 2016 shows it had raised the entirety of a $27.6m round.
Founded in 2013, Bardy has developed a non-invasive ambulatory cardiac monitor and arrhythmia detection system called the Carnation Ambulatory Monitor that it claims provides better clinical data than other devices.
The capital will support further development of Bardy’s technology as well as commercialisation of its system in the US and Europe. It has not disclosed details of any earlier funding.