Minneapolis / St. Paul Business Journal by Ed Stych, Web Producer
Healthsense Inc., a Twin Cities company that markets health-monitoring systems for seniors, said Wednesday it has received $7 million in financing from Merck Global Health Innovation Fund and others.
Mendota Heights-based Healthsense said in a news release that Fallon Community Health Plan was another one of the investors in the Series-D financing.
"The addition of respected investors and industry leaders like Merck GHIF and Fallon Community Health Plan supports our belief that our technology and approach can both improve quality and reduce cost," Healthsesnse CEO Brian Bischoff said in a statement. "Both companies represent strong strategic alliances for us at this important point in our growth."
Healthsense said earlier this year it was seeking $13 million in capital for its eNeighbor system of senors, which can detect if a person's behavior is changing.
The company raised $6.75 million in 2010 and also has received federal funding in the past. Last year, Verizon Communications Inc. (NYSE: VZ) said it would begin marketing the eNeighbor system to senior housing developments.