Firm enabling healthy aging raising $13 million from strategic investors

May 22, 2012 1:18 pm by Arundhati Parmar | 0 Comments

A Minnesota company that develops technology to enable healthy aging is raising more than $13 million, according to a recent regulatory filing.

Healthsense makes products that allow the “passive monitoring of activity level of seniors” inside the home , in a community living space, assisted living or a skilled nursing venue, explained the company’s chief financial officer Sue Horvath.

The company has developed the eNeighbor remote monitoring system that combines Wi-Fi technology with motion and contact sensors that are placed throughout the living area.

Horvath declined to provide details about how the money would be used. More details will be forthcoming after the money is raised in two rounds, the second of which is expected to be at the end of June, she said. It is an all-equity round and the company is not issuing any debt, as the regulatory filing shows.

“We are really excited by this round,” Horvath said. “It shows strong interest from strategic investors.”

The Mendota Heights, Minnesota company has 40 full-time employees. Horvath declined to talk about revenue and profits. The company has raised money since 2007 that includes a $7 million round of financing sourced from Radius Ventures,Ziegler HealthVestPartners LP and its affiliate The Ziegler Companies Inc.

[Photo Credit: freedigitalphotos user Salvatore Vuono]

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Related Topics: dealflow, Healthsense, investing, medical devices, Minnesota, Twin Cities

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By Arundhati Parmar

Arundhati Parmar is the Medical Devices Reporter at MedCity News. She has covered medical technology since 2008 and specialized in business journalism since 2001. Parmar has three degrees from three continents - a Bachelor of Arts in English from Jadavpur University, Kolkata, India; a Masters in English Literature from the University of Sydney, Australia and a Masters in Journalism from Northwestern University in Chicago. She has sworn never to enter a classroom again.
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