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.
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.
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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.More posts by Author
I think West Health Fund was also in on this round. Just FYI.