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 HealthVest Partners LP and its affiliate The Ziegler Companies Inc.
A Deep-dive Into Specialty Pharma
A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.
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