Israel Healthcare & Medical Device Industry

Patient supervision system developer EarlySense Raises $13 Million June 3, 2010

EarlySense, developer of patient supervision system for hospital and post acute care, has closed a $13 million third financing round led by Pitango Venture Capital.

Current shareholders Etgar Challenge Fund, Proseed VC Fund, Docor International Management, Noaber, and Bridge Investment Fund also participated. To date, EarlySense has raised about $24 million in three rounds.

The company’s lead product, the EverOn, is a contact-free patient supervision system installed underneath a hospital bed mattress. The system measures patient vital signs and movements and alerts medical personnel of the changes in a patient’s condition.

EverOn detects heart and respiration rates, as well as motion levels. In addition, the system provides an overall view of a patient`s condition in order to help the staff better select treatment and make more timely decisions. EverOn is currently installed at several medical centers in the USA and Europe.

“Over the past 12 months clinicians and hospital administrators who have used the EverOn system have told us that they see a significant improvement in outcomes, both clinical and financial,” said Avner Halperin, CEO of EarlySense. “Based on this strong feedback we are enthusiastic about utilizing the new funds to launch the product and enable hospitals throughout the USA and Europe to benefit from the many positive deliverables of the EverOn system.”

EarlySense was founded in 2004 by Halperin, Danny Lange, Ph.D., the company Chief Scientific Advisor, and Yossi Gross, a leading Israeli medical device innovator and entrepreneur. EarlySense is based in Ramat Gan, Israel with a research and development facility in Israel; and marketing offices in Boston, Massachusetts.

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