Proving the Business Case for the Internet of Things

Healthsense raises $10 million in funding for expansion into managed care

Iain Morris
August 27, 2014
 
Remote patient monitoring player Healthsense says it has raised $10 million in a round of financing led by Boston-based Mansa Capital, indicating it will use the funding to support its expansion into managed care and other high-demand healthcare sectors.

The company also received financial support from Merck Global Healthcare Innovation Fund (White House Station, NJ, USA) and Radius Ventures (New York City, NY, USA), both of which have previously invested in Healthsense.

“Mansa Capital [Boston, MA, USA] possesses exceptionally strong relationships that Healthsense can leverage to expand our reach into the managed care and home health markets, where we see major growth opportunities,” said AR Weiler, the president and chief executive of Healthsense (Mendota Heights, MN, USA). “This is an ideal complement to our thriving senior living business.”

“Mansa Capital’s involvement will extend the exceptional benefits we have realized from previous investments with Merck GHI, Radius and BC Ziegler and Company, influential investors whose market knowledge and resources have helped us achieve our continued growth and success,” he added.

Healthsense says it is increasingly focusing on helping managed care organizations to improve care and has been involved in several pilot programs in this area in the last year.

Healthsense claims that early program results suggest its eNeighbor-branded remote monitoring platform is helping to improve care outcomes for patients with chronic health conditions by allowing healthcare providers to intervene when necessary and reduce the rate of hospital readmissions in various care environments.

“We seek to engage with companies that demonstrate both strong growth potential and the ability to advance the healthcare industry’s triple aim of improving care, reducing costs and enhancing the patient experience,” said Ruben King-Shaw, the managing partner and chief investment officer of Mansa Capital, who is set to join the Healthsense board of directors as part of the recent funding arrangements.

“Healthsense embodies all that we look for when considering an addition to our healthcare portfolio, particularly given the ever-increasing industry focus on managed care,” he added.
 
 
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