Baxter Ventures, the investment arm of global healthcare company Baxter International, has joined the series B financing round of Israeli medical device company Medasense Biometrics Ltd. Based in Ramat Gan, Medasense Biometrics has developed an innovative, platform technology that can objectively assess and monitor changes in a patient’s pain level by processing multiple physiological parameters affected by pain and by analgesic administration.
Baxter's investment is in addition to the $8 million investment round announced in March led by Benslie International Ltd. together with a leading undisclosed global medical technology corporation and other private investors. The amount Baxter Ventures is investing has not been disclosed.
The investment round will support the continuation of global clinical research and market development of Medasense's flagship product PMD-200™. The PMD-200 is an objective pain monitoring system for non-communicating patients in operating rooms and critical care, aiming to support clinicians in evaluating their patient’s pain level in order to optimize pain treatment. Considering the complex nature of pain, Medasense developed the Nociception Level Index, the NoL™, based on a unique multi-parametric approach using artificial intelligence algorithms to determine a patient's individual “Signature of Pain”.
"We are delighted with Baxter Ventures joining this round. This financing strengthens our commitment to improve patients’ care by supporting clinicians in personalizing and optimizing pain treatment," said Galit Zuckerman, Medasense CEO and founder.
"Medasense’s novel approach to developing an objective assessment of pain and a highly capable management team made this an attractive investment for Baxter Ventures. The opportunity to more proactively manage use of analgesics and maintain stable hemodynamic parameters provides direct benefits in helping to improve recovery time and clinical outcomes,” said Baxter Ventures managing director Anne Sissel.
Published by Globes [online], Israel business news - www.globes-online.com - on May 23, 2016
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