InfoBionic Secures $50 Million in Financing to Support Continued Growth of the MoMe® Kardia System for Cardiac Arrhythmia Detection
Published: Sep 11, 2018
“We are pleased by the completion of the company’s latest financing round which was based upon the strong market traction of our proprietary MoMe® Kardia system,” said Stuart Long, InfoBionic Chief Executive Officer.
“Since this time last year, the MoMe® Kardia system month-to-month subscription growth rates have exceeded 35%”, Long added. “Favorable marketplace developments, combined with our recently announced US distribution agreement for our system, should result in continued customer traction and strong growth.”
The Company recently announced a commercial distribution partnership that is expected to further enhance the penetration of the MoMe® Kardia monitoring platform in the marketplace. The MoMe® Kardia remote cardiac monitoring platform, which was granted 501(k) clearance from the U.S. Food and Drug Administration in 2015, competes in an addressable U.S. market estimated at $1.4 billion.
InfoBionic is a digital health company focused on creating superior patient monitoring solutions for chronic disease management with an initial market focus on cardiac arrhythmias. InfoBionic’s lead product, MoMe® Kardia, is the only remote cardiac arrhythmia detection and monitoring system that replicates in-hospital telemetry data, right in the office, by giving physicians 24/7 on-demand access to full disclosure Holter, Event, and MCT data via a HIPAA-compliant portal app. For more information, visit www.infobionic.com.
Carla Nieser, 610-240-0400, x118