Israeli-based Neteera, which offers contactless remote patient monitoring, announced it had closed a Series B funding round worth about $13 million.
Aescuvest led the round, alongside existing and new investors Nanz Family Office, Omega Healthcare Investors, Esas Private Equity and Ankor Holding.
The company also announced its strategic partnership with Omega, which provides technology-enabled revenue cycle management and clinical communication services. Omega will offer Neteera’s platform to its long-term care and skilled nursing facilities in the U.S.
WHAT IT DOES
Neteera offers a contactless patient monitoring device that uses radar technology to track vitals, including heart and respiration rates, respiratory depth, heart rate variability, inhale/exhale ratio and more. The radar senses microscopic skin motion, even through a patient’s clothing, to gather information on the patient’s vital signs.
The company will use the funds to speed up the development, sales and deployment of its patient monitoring solution and further develop its medical sensing platform.
“Aescuvest is committed to funding healthcare developments that have a positive impact on society, and we believe that Neteera’s innovative technology has the potential to revolutionize the way we monitor and care for patients,” Sebastian Gührs, partner and head of investment at Aescuvest, said in a statement.
Neteera received FDA 510(k) clearance in September for its cardiac monitoring device.
The ability to monitor patients’ health remotely has become increasingly popular, though experts say it’s important to choose easy-to-use devices that don’t require extra technology for patients.
Companies have formed partnerships to expand into the remote patient monitoring space, including medtech companies Philips and Masimo, who announced a collaboration that allows vital sign data from the W1 watch to be sent to Philips’ patient monitoring ecosystem.
GE Healthcare and AMC Health also partnered to offer remote patient monitoring technology to patients after they’ve been discharged from the hospital.