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 biosensor. 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.