Medtronic chips in to MC10’s latest $10M round

By: Brian Dolan | Dec 17, 2012        

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MC10 CEO David Icke

MC10's CEO David Icke

The flexible, bendable digital health sensor company MC10 announced this week that two new strategic investors led a $10 million third round of funding in the company. MC10 named Medtronic as the first company but did not reveal the other — only noting that it is a “consumer health company” that is a “clear leader” in its field. MC10 has previously announced a deal with consumer health company Reebok to launch its first product into the market in 2013: the Sports Impact Indicator, a mesh skull cap that athletes can wear under their helmet to detect the likelihood of a concussion.

As part of the investment deal, Medtronic’s Dr. Stephen Oesterle, the SVP of Medicine and Technology at that company, will join MC10 as a board observer.

Oesterle stated in a written statement that “several of [Medtronic's] our business units have been collaborating with MC10 for many years, and this investment should catalyze an expanded relationship between our two companies.”

According to the company, MC10 devices will be used both inside and outside the body. Their technology sensors include those that monitor head impact, heart rate, brain activity, muscle function, body temperature and hydration. MC10 also hints that it is developing “an entirely new class of intelligent medical devices with embedded sensors for enhanced sensing and therapeutic capabilities.”

The Wall Street Journal interviewed MC10 CEO David Icke this week about the company’s future plans, the WSJ’s Yuliya Chernova reports:

“Now MC10 has a prototype of a sticker-like patch that can be worn by consumers, that determines a person’s skin type, and can refer the person on theirs smartphones to the product optimal for their skin characteristics. This type of product could be on the market in 12 to 18 months, said Icke. A sticker like that can also measure someone’s exposure to ultraviolet light and alert the uses to the need to reapply their sunblock, for example. For the maker of lotions and sunblocks, the product enables ‘that digital connection to the consumer that’s a much better, deeper connection,’ said Icke.”