EarlySense, a company offering continuous patient monitoring solutions, has pulled in $39 million in a financing round.
The majority of the money came from hospital bed manufacturer Hill-Rom and Wells Fargo Strategic Capital, the venture capital and growth equity investment arm of Wells Fargo & Company.
BlueRed Capital, Israeli Innovation Fund, Hotung Capital and Argos Capital also participated in the round, as did existing investors like Pitango Venture Capital and JK&B Venture Capital.
The investment comes after EarlySense integrated its continuous contact-free heart rate and respiratory rate sensing and analytics technology into Hill-Rom’s Centrella Smart + bed platform. With EarlySense’s technology, clinicians receive alerts regarding potential patient deterioration events and can intervene as necessary.
“Our Centrella bed is transforming inpatient care with integrated advanced sensing and analytics, offering a complete patient safety platform to assist clinicians in providing the highest level of care,” Hill-Rom president and CEO John Groetelaars said in a news release.
Founded in 2004, EarlySense has offices in Ramat Gan, Israel, and Woburn, Massachusetts. Its technology harnesses machine learning to generate health information about patients. Providers can then use this data to detect adverse events sooner.
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The company’s products include the EarlySense System, which is suited to hospital floors, and the InSight System, which is geared toward waiting areas, transitional care, rehab centers, skilled nursing facilities and the like.
The EarlySense System gives staff members real-time vital sign information within the patient’s room. It also has a display at the nurses’ station that enables monitoring of multiple patients. Similarly, the InSight System allows caregivers to see real-time patient vitals from a display station.
“Millions of beds worldwide require our continuous sensing and predictive analytics,” EarlySense CEO Avner Halperin said in a statement. “As we continue our exciting journey to make our solution the standard of care, we are looking for the best strategic and financial partners to bring our solution to every bed.”
In terms of funding, the company most recently raised $25 million in 2016. Bank Hapoalim led the financing round. Pitango Venture Capital, JK&B Capital and investors that have previously backed the business also participated.
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