MENDOTA HEIGHTS, Minn.--(BUSINESS WIRE)-- Healthsense, Inc., a leading provider of next-generation wireless sensors and remote monitoring solutions for the senior care market is pleased to announce the close of a growth capital financing round led by Radius Ventures, LLC (“Radius”). Radius, a focused health and life sciences venture fund, was joined in the round by Healthsense’s existing investors, including Ziegler HealthVest Partners, LP and its affiliate The Ziegler Companies, Inc.
Healthsense has emerged as a leader in Wi-Fi sensors, nurse call systems and advanced algorithmically-enabled remote monitoring solutions. Since the initial introduction of its first commercial product in 2006, the company has built a large installed base of customers and demonstrated substantial year-over-year growth. The Radius financing supports Healthsense’s goal of accelerating its sales and marketing efforts and expanding the company’s platform into new markets. “Radius has impressed the entire Healthsense team with its unique approach, outstanding network of healthcare industry executives, and track record of supporting the rapid growth of its portfolio companies,” stated Brian J. Bischoff, President & CEO of Healthsense.
“Radius has been studying the senior care market for several years and searching for an emerging company with best-of-breed technology, a well-conceived business model, and the potential for rapid and profitable growth. Healthsense has built a highly differentiated, integrated remote monitoring platform, which scales broadly across a range of healthcare applications targeting the senior care market – the company has developed an exciting and competitive product offering which delivers great value to its customers. The Healthsense team is very innovative, strong and agile, and unique in how they have engaged their customers in designing and deploying technology and processes to transform healthcare delivery.” said Daniel C. Lubin, Managing Partner at Radius.
“The aging population, associated with higher rates of chronic conditions and growing prevalence of Alzheimer’s and dementia care, as well as, financial stress at the state and federal levels are driving a tremendous need for innovative technology solutions. Healthsense is truly unique in having demonstrated the advantages of using technology to modernize the care of older adults across the entire long-term care continuum,” said Neil Borg, Managing Director and Head of Corporate Finance at Ziegler. “Ziegler is committed to supporting Healthsense and is delighted with the addition of Radius as a partner.”
The partnership with Radius marks a transition point for Healthsense in terms of its corporate development and provides the company with both significant financial resources and unique access to world-class intellectual capital. “Many firms talk about how their networks can drive organizational success – Radius showed us. The caliber of people that we’ve worked with proved to us that the Radius team is willing to jump in and help us firmly establish our leadership position in deploying technology solutions for the care of older adults,” said Bischoff.
About Healthsense, Inc.
Healthsense, based in Mendota Heights, MN, is a market leader in providing technology solutions for the future of aging services. Healthsense offers completely integrated systems based on a standard Wi-Fi platform for Personal Emergency Response Systems, Wi-Fi wireless nurse call and remote safety and wellness monitoring. These systems are scalable, flexible and are proven across a broad base of installations. The flagship Healthsense product is the eNeighbor® system, which was developed under the direction of the National Institute of Aging (NIA) and the Defense Advanced Research Projects Agency (DARPA). The system monitors individuals in their homes and automatically calls for help if it detects a possible problem. The eNeighbor® system utilizes a series of wireless sensors placed throughout the residence that capture the occupant’s activities of daily living. Visit www.healthsense.com for more information.
About Radius Ventures, LLC.
Founded in 1997, Radius Ventures, LLC (“Radius”) is a health and life sciences focused venture capital firm that manages in excess of $200 million. Radius deploys capital across the industry’s key sectors including medical devices, biotechnology, pharmaceuticals, services, and healthcare/life sciences information technology. The firm pursues a highly engaged investment style by leveraging the expertise of its internal team and by providing access to its extensive network of senior industry and professional relationships. For more information, visit www.radiusventures.com
About The Ziegler Companies, Inc.
The Ziegler Companies, Inc. and its affiliates (Ziegler) is a specialty investment bank with a unique expertise in complex credit structures and capital advisory. Nationally, Ziegler is ranked as one of the leading investment banking firms in its specialty sectors of healthcare, senior living, religion and education finance, as well as corporate finance and FHA/HUD. Headquartered in Chicago, IL with regional and branch offices throughout the U.S., Ziegler creates tailored financial solutions including bond financing, advisory, private placement, seed capital, M&A, risk and asset management. Ziegler serves institutional and individual investors through its wealth management and capital markets distribution channels.
CONTACT:
Healthsense, Inc.
Media Contact:
Terry Barck, 952-400-7303
[email protected]
KEYWORDS: United States North America Minnesota
INDUSTRY KEYWORDS: Technology Data Management Networks Telecommunications Practice Management Health Biotechnology Hospitals Medical Devices Pharmaceutical Mobile/Wireless Medical Supplies Managed Care
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