Reference no: EM133210212

Remote monitoring startup BioIntelliSense raises $45 million in Series B funding

Remote patient monitoring company BioIntelliSense scored $45 million in a Series B funding round. To date, the Colorado-based startup has raked in roughly $82 million. Chimera (UAE) led the round with participation from 7wire

Technology Partners, Mary Tolan of Chicago Pacific Founders, James Murren, formerly of MGM Resorts International, as well as Pendrell Corporation, Royal Philips and Fresenius Medical Care North America.

WHAT THEY DO

The company has created two wearable products that let clinicians collect patient data outside the hospital. The first is called the BioSticker, which is a wearable body sticker that is able to capture medical data and insights and transmit that data wirelessly to healthcare providers. It also includes analytics for early detection capabilities. The FDA-cleared product is able to continuously monitor for 30 days.

The second tool is called the BioButton, which can be used for continuous vital sign monitoring for 60 days. The tool is able to capture temperature, respiratory rate and heart rate at rest.

WHAT IT'S FOR

The company says that the new cash will help it grow and expand globally.

"The Remote Patient Monitoring market is in hyper-growth mode with projections reaching USD $117.1 billion by 2025," noted Lee Shapiro, former CFO of Livongo Health and Co-founder and Managing Partner at 7wireVentures. "BioIntelliSense is poised to grow its footprint with provider and payer organizations seeking to accelerate and operationalize their virtual care programs by deploying effortless medical-grade monitoring and advanced analytics that are built for scale."

MARKET SNAPSHOT

Remote patient monitoring has been a hot topic in digital health for some time, however, during the COVID-19 pandemic, the technology caught the eye of clinicians and investors.

BioIntelliSense isn't the only remote monitor on the market. Last week, the FDA cleared LifeSignals LX1550 Multiparameter

Remote Monitoring Platform, which is made up of a single - use wearable bio sensor. The tool is able to measure electrocardiography, heart rate, respiration rate, skin temperature, and body posture data for up to five days.

Others in the space include Huma, which landed $130 million in Series C funding in May, TytoCare, which recently closed $50 million, 100plus, which is backed by $25 million in seed funding, and Biofourmis, which closed $100 million in Series C funding.

Question 1

Critically analyse potential threats to the BioSticker wearable in relation to cyber-attacks and propose how BioSticker could be protected against such attacks.

Question 2

Explore and analyse various ways in which BioSticker will disrupt the healthcare market.

Question 3

Suppose that the healthcare records are managed using blockchain-based records management systems, examine practical ways in which the wearables, BioSticker and BioButton would solve record management problems for patients as well as that of the medical records management professionals.

Question 4

Suppose the same technology of wearables is conceptualised and adapted to work for a motor vehicle, a car. Taking into consideration how it works in human beings; analyse various ways in which a car owner would benefit from this technology.