Digital health company Endotronix has raised $32 million in its Series C round funding that will help finance development on its cloud-based patient management system and artery sensors.
Endotronix, based in Woodridge, Illinois, specializes in providing solutions for patients with advanced heart failure. Funding was provided by venture capital firms like BioVentures Investors, SV Life Sciences, Aperture Venture Partners and OSF Ventures, according to a statement from the company.
Representatives from several of the investors will now serve on Endotronix’s board of directors.
"The Series C financing will fund our clinical program including commercialization of our cloud-based outpatient management system and the safety and feasibility study for our implantable wireless pulmonary artery sensor,” said Harry Rowland, CEO of Endotronix, in a statement.
The artery sensor, which is designed to manage patients’ hemodynamics, has been shown to reduce heart failure hospitalizations by 37 percent, according to Endotronix.
"Patient-friendly, wireless solutions that provide early detection and link the physician and patient in continuous communication have enormous potential for the management of chronic heart failure," said Leslie Saxon, MD, professor of medicine and executive director for the Center for Body Computing at the University of Southern California, in a statement. "The Endotronix solution optimizes the inefficient management and communication pathways that currently plague both patients and physicians."