Company name: Healthsense.
Location: Mendota Heights, Minnesota.
Industry: medical devices and health IT.
Product/solution: The eNeighbor is a remote-monitoring system by which sensors are placed within the living space of a senior that communicates using a wireless technology with software so that if seniors fall, caregivers can be immediately notified. That eliminates the need for seniors to pull a cord or press a button, or otherwise notify caregivers of their emergencies. The eNeighbor system is currently being used in senior and assisted-living communities, and can indicate for missed medication and wandering, in addition to falls.
Money raised: $7 million in a series D round.
How it will be used: The funds will be used in customer support, sales, engineering and account management, said Sue Horvath, Healthsense’ chief financial officer. It will be also used for pilot studies to test how the eNeighbor system can be introduced in the home and individual residences.
Investors: Merck Global Health Innovation Fund, Fallon Community Health Plan, Ziegler, Radius Ventures and high-net worth individuals.
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.
Management team: Brian Bichoff, co-founder, president and CEO; Bryan Adams, chief technology officer; Bryan Fuhr, vice president of business development and marketing; Joe Mundell, vice president of sales.
Market: Horvath described the remote-monitoring market as “significant,” but declined to be more specific.
Competition: There are several companies that are vying for the senior healthcare market for instance At Ease Home Systems, Intel/GE’s QuietCare Systems, and WellAware Systems.
