US-based cardiac monitoring technology developer Bardy Diagnostics has raised $35.5m in a series B round that included the corporate venturing subsidiaries of healthcare providers Ascension Health and UNC Rex Healthcare.
Ascension Ventures and Rex Health Ventures joined venture capital firm River Cities Funds, which led the round, as well as HealthQuest Capital, Aperture Venture Partners, Aphelion Capital, Lumira Ventures, SV Health Investors and Health Enterprise Partners.
Rik Vandevenne and Garheng Kong, managing directors at River Cities Capital Funds and HealthQuest Capital respectively, have both joined the company’s board of directors.
Bardy is the creator of the Carnation Ambulatory Monitor, a small, lightweight heart monitor that is placed on the centre of the chest to detect an irregular heartbeat.
The patch is designed to be worn comfortably for a week and focuses on detecting and recording the P-wave, the electocardiogram wave that shows atrial depolarisation, when the heart’s atria contract in preparation for pumping blood into the ventricles.
The company will use the capital to expand its sales team and monitoring services, as well to develop its augmented intelligence and visualisation technologies.
Bardy has not disclosed any previous funding, though it did raise an undisclosed amount of funding in January 2017, from Ascension Ventures, Square 1 Bank, which invests on the behalf of financial services provider Pacific Western Bank, SV Life Sciences Advisers and Health Enterprise Partners.
Image of the Carnation Ambulatory Monitor courtesy of Bardy.