Peerbridge Health has raised $1 million in what could be the first portion of a large fundraising round, according to a Form D filing with the U.S. Securities and Exchange Commission. The company is developing a medical grade wearable sensor to monitor vital signs.
The filing suggests that the company could be looking to raise as much as $50 million, but calls to Peerbridge Health to confirm this were not returned.
The company says it uses sensors to track vital signs and aggregates and analyzes that data for medical professionals, athletes and sports coaches, according to its website. It also notes that it is pursuing FDA clearance of its wearable device.
Although the pursuit of FDA 510 (k) clearance helps validate wearables like these for some physicians, and it’s nice to have in that respect, it doesn’t make products like these a slam dunk that they will win wider acceptance. But it does help distinguish them from the rest in some ways.
Still, as Mercom Capital Group Cofounder and CEO Raj Prabhu noted, “the market is still in very early stages, and adoption of these wearables by caregivers to continuously monitor and treat patients is still far away.”
