The wearable cardiac monitor maker VitalConnect has raised $100 million in new capital to aid in the development of its in-hospital wireless patient trackers while also expanding its commercial efforts.
The company’s currently available VitalPatch can be worn for up to seven days to log eight different vital signs, with a single-lead ECG for measuring changes in heartbeats and potential arrhythmias, as well as other sensors for recording body temperature and breathing.
“Four years after our commercial launch, VitalConnect has grown to be a leader in ambulatory cardiac monitoring,” CEO Peter Van Haur said in a statement. “Additionally, we continue to develop our in-patient remote patient monitoring offering in close collaboration with some of the leading healthcare facilities in the U.S.”
The new proceeds come courtesy of a mix of equity and debt. The equity fundraising was led by first-time investor Ally Bridge Group, plus additions from previous backers at EW Healthcare Partners, MVM and Revelation Partners. Trinity Capital provided the debt financing. Ally Bridge’s Steven Plachtyna and Revelation’s Eric Shiozaki joined the company’s board.
The San Jose, California-based VitalConnect previously raised at least $30 million in a mid-2023 series F round, led by Revelation and joined by EW Healthcare and Pacific General Ventures.