US-based biosensor system developer VitalConnect has completed a $33m series C round co-led by Baxter Ventures, the strategic investment unit of medical products maker Baxter International.
The round, which was co-led by healthcare-focused venture capital and private equity firm MVM Life Science Partners, increased VitalConnect’s overall equity funding to approximately $66m since it was founded as Vigilo Networks in 2011.
VitalConnect has created a wearable, adhesive patch-based biosensor system called VitalPatch that allows patients to be remotely monitored by hospitals both before and after they are discharged.
Anne Sissel, head of Baxter Ventures, said: “VitalConnect provides an innovative biosensor and monitoring solution to enable predictive and personalised patient care. Baxter Ventures is pleased to invest in VitalConnect and support its innovative approach for improving patient care.”
The company raised $10.8m in 2011 according to a regulatory filing, and followed that by closing a $22.1m series B round and securing $17.5m in debt financing from Perceptive Advisors in June 2016, chairman and CEO Nersi Nazari told Fierce Biotech.