Patient monitor developer EarlySense Ltd. has raised $7 million in a Series D round of funding led by Chicago-based venture capital fund JK&B. Existing investors including Challenge Fund - Etgar, ProSeed Venture Capital Fund (TASE:PRSD), GlenRock Israel, Orange Blossom Ventures Ltd. , Docor International Management Ltd. and Pitango Venture Capital also participated.
EarlySense was founded by Danny Lange and serial start-up entrepreneur Yossi Gross. Avner Halperin serves as CEO.
The company has developed the EverOn patient managing system which monitors patients who are not in intensive care. The system includes a plasma screen, which the company installs in wards and at nurses' stations to provide information about the condition of patients, without disturbing their privacy.
EverOn is installed underneath a hospital bed mattress. There are no leads or cuffs to connect to the patient, who has complete freedom of movement and is not burdened by any irritating attachments. The system measures patient vital signs and movements and alerts medical personnel of the changes in a patient’s condition. EverOn detects heart and respiration rates, bed entries and exits, as well as patient movement.
The system has received approval from the US Food and Drug Administration (FDA) and the European Union CE mark.
JK&B founder and chairman David Kronfeld said, "EverOn has already proven to make a significant difference in hospitals in the U.S. We know for a fact that it has saved lives, shortened hospital stays, and has saved money for hospitals. EarlySense is clearly a market leader and its EverOn system is quickly becoming an industry standard."
EarlySense has raised a combined $20 million in the current funding and in a previous round held in June. Since inception, the company has raised $31 million.
Published by Globes [online], Israel business news - www.globes-online.com - on October 20, 2010
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