VitalConnect, a US-based biosensor system developer, has closed a $38m series C round co-led by Baxter Ventures, the corporate venture capital arm of medical products manufacturer Baxter International.
The round was raised across four tranches, the final tranche adding $5m to the $33m VitalConnect had raised as of May 2017. Private equity firm MVM Life Science Partners co-led the round with Baxter.
Founded in 2011, VitalConnect has created a wearable biosensor system called VitalPatch that monitors skin temperature, breathing rate, posture, motion, heart rate and the heart’s electrical activity.
The data is processed in the cloud, allowing remote monitoring by clinicians so patients can be observed both before and after they are discharged.
VitalConnect raised $12m in series A funding in 2011 and added $22.1m in a June 2016 series B round closed alongside $17.5m in debt financing from hedge fund sponsor Perceptive Advisors.
Nersi Nazari, CEO of VitalConnect, said: “We envision a hospital of the future where inpatient and outpatient care needs integrate more seamlessly to enable a patient-centric model of care that is truly preventative and real-time.
“Our close of $38m in total financing this year will help drive our continued product development and rollout.”