Israeli company EarlySense, a leader in contact-free, continuous patient monitoring solutions announced that it completed a $39 million financing round, led by Hill-Rom, a global provider of medical technologies and a leading hospital bed manufacturer, and Wells Fargo Strategic Capital, the venture capital and growth equity investment arm of Wells Fargo & Company. New investors include BlueRed Capital, Israel Innovation Fund, Argos Capital and Hotung Capital.
Existing investors also participated in the financing round, including Pitango Venture Capital and JK&B Venture Capital.
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Founded in 2004, EarlySense developed a clipboard-sized sensor that can be embedded in any mattress to monitor sleep, vital signs, and motion, leveraging artificial intelligence and big data analytics to help clinicians in early detection of patient deterioration.
“Millions of beds worldwide require our continuous sensing and predictive analytics. 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,” said Avner Halperin, CEO of EarlySense, in a statement. “We are honored to have Hill-Rom and Wells Fargo as our partners – each a unique leader and a globally revered brand in its field.
Halperin said that over the course of 2018, EalySense “played the pivotal role in preventing 3,000 deaths, 5,000 patient falls and 4,000 cardiac arrests …and this is only the beginning.”
EarlySense’s solutions have FDA and CE approval, and are used by healthcare facilities around the world.
“As a global financial leader, Wells Fargo helps enable companies to become market leaders in their respective areas of focus. Wells Fargo Strategic Capital seeks to invest in companies that deliver a positive impact on patients and those who treat them,” said John Ryan, Managing Director of Wells Fargo Strategic Capital. “We look forward to working with EarlySense’s management and valuable partners such as Hill-Rom to improve how care is provided globally.”