Sotera Wireless announced that it had raised $12.2 million in its fourth round of funding. Singapore-based global fund EDBI led the round, which included participation from new investor Cerner Capital and existing investors Sanderling Ventures, Qualcomm Ventures, Intel Capital and the West Health Investment Fund. The latest round of funding brings total investment in Sotera to nearly $50 million by our count.
Sotera also inked a commercial deal with Cerner.
“I met the Sotera Wireless leadership team about a year ago and I was amazed by the truly revolutionary capabilities that they have built into their product, ViSi Mobile,” said Paul Gorup, chief innovation officer and co-founder of Cerner. “We at Cerner believe in the power of innovation and decided to collaborate with Sotera Wireless to jointly make an impact on how vital signs for general care patients in hospitals are captured and documented.”
The ViSi Mobile offering is not FDA-cleared, but the company submitted it for 510(k) clearance in August. Sotera’s ViSi Mobile System aims to help care providers detect early signs of deterioration through constant monitoring of a patient’s vital signs. It’s a wireless vital signs monitor intended for use inside a healthcare facility, but the company could find use cases for the technology outside of traditional care settings, too.
The new money will help the company bring the product to a commercial launch if and when the FDA clears it.
EDBI plans to help Sotera bring its offering to the Asia-Pacific market. EDBI CEO Chu Swee-Yeok stated in the press release: “Health systems worldwide are facing the challenge of an increasingly high-risk and frail patient population. We believe Sotera offers a disruptive platform that will provide clinicians with the visibility they need for pre-emptive and preventative care.”
Earlier this year it came out that Sotera was working with San Diego-based Palomar Pomerado Health to integrate its vital signs monitoring devices with Palomar’s Medical Information Anytime Anywhere (MIAA) platform, which aims to provide clinicians with access to patient medical records and vital sign information in real time or near-real time.
Sotera scooped up more than $10 million in funding in April 2010, and another $7 million in July 2010. In November 2009 the company changed its name from Triage Wireless as part of an agreement with Inverness Medical, which marketed products under a similar brand name as Triage Wireless.
More on the latest Sotera round of funding and Cerner deal in the press release below: Keep reading>>