Mendota Heights-based healthcare technology firm Healthsense recently got a major boost toward more growth, in the form of strategic funding that will help the company keep expanding its operations.
Healthsense provides a remote monitoring platform, called eNeighbor, targeted toward the senior care market. Caregivers can be alerted to situations like falls or sudden health changes, and can also use the technology to keep on top of regular health issues.
The system--developed under the direction of the National Institute of Aging and the Defense Advanced Research Projects Agency--relies on a series of wireless sensors placed throughout a residence, which can capture an occupant's activities. The system "learns" a person's routines, like what time he or she gets out of bed, and alerts caregivers if there's a significant change in behavior.
The company will be able to expand the product's reach, thanks to an infusion of $7 million, in a round of Series-D financing, led by new investors Merck Global Health Innovation Fund and Fallon Community Health Plan.
"The addition of these respected investors supports our belief that our technology and approach can both improve quality and reduce cost," notes Healthsense CEO Brian Bischoff. "Both companies represent strong strategic alliances for us at this important point in our growth."
The company has seen a nice amount of traction in the past few years, kicked off by a grant from the Department of Defense, which launched a research program to demonstrate how wellness monitoring and assistive technologies could help keep older adults in their own homes.
Bischoff is confident that the system's steady adoption will keep fueling company growth, especially with the financing round. He says, "As we go forward, our attention will increasingly focus on enhancing care models to advance the adoption of remote monitoring in health management."
Source: Brian Bischoff, Healthsense
Writer: Elizabeth Millard