Neteera, an Israeli-based remote patient monitoring company, has raised around $13 million in a Series B funding round led by Aescuvest. Omega Healthcare Investors and Esas Private Equity were among the new and existing investors that also participated. The company, which uses radar technology to monitor patients’ vitals, will use the funds to accelerate the development, sales, and deployment of its platform, while it will also partner with Omega to offer its platform to the US-based company’s long-term care and skilled nursing facilities.
In a recent investment round managed by Aescuvest and involving both new and existing investors, including Nanz Family Office, Omega Healthcare Investors, Esas Private Equity, and Ankor Holding, Neteera, an Israeli business, raised over $13 million in its Series B round. The company also announced its partnership with Omega, a company that offers technology-enabled revenue cycle management and clinical communication services. Omega will now offer Neteera’s platform to its long-term care and skilled nursing facilities in the United States.
Neteera’s primary focus is to offer a contactless patient monitoring device that can track vitals such as heart and respiration rates, respiratory depth, heart rate variability, inhale/exhale ratio, and more, using radar technology. The device senses microscopic skin motion, even through the patient’s clothing, to gather information on the patient’s vital signs. The company will use the raised funds to accelerate the development, sales, and deployment of its patient monitoring solution and further enhance its medical sensing platform.
Sebastian Gührs, the partner and head of investment at Aescuvest, said in a statement that they believe Neteera’s innovative technology has the potential to revolutionize the way healthcare providers monitor and care for patients.
Neteera received FDA 510(k) clearance in September for its cardiac monitoring device, indicating that the device is safe and effective to be used in the United States. The ability to monitor patients’ health remotely has become increasingly popular, and experts say it’s essential to choose easy-to-use devices that don’t require extra technology for patients. Businesses are partnering to enter the remote patient monitoring market, as seen in the announcement of a partnership between Philips and Masimo that enables vital sign data from the W1 to watch to be relayed to Philips’ patient monitoring environment. GE Healthcare and AMC Health also partnered to offer remote patient monitoring technology to patients after they’ve been discharged from the hospital.
Remote patient monitoring (RPM) is the use of technology to monitor patients’ health remotely, allowing healthcare providers to track their patient’s health status outside of a traditional healthcare setting, such as a hospital or clinic. RPM has become increasingly popular in recent years, particularly during the COVID-19 pandemic, as healthcare providers sought to limit patient exposure to the virus. RPM can be used to monitor patients with chronic conditions such as diabetes, heart disease, and COPD and can alert healthcare providers if a patient’s condition worsens, allowing for early intervention and preventing hospitalizations.
Neteera’s contactless patient monitoring device is a unique offering in the RPM space, as it allows for the remote monitoring of patients without requiring them to wear any additional sensors or devices. The use of radar technology also enables the device to gather vital sign data even through the patient’s clothing, making it an attractive option for patients who prefer not to be physically monitored.
Omega’s partnership with Neteera is also notable, as it highlights the importance of RPM in long-term care and skilled nursing facilities. These facilities often care for patients with chronic conditions and disabilities, making remote monitoring an essential tool for ensuring their health and safety. By offering Neteera’s platform to its facilities, Omega is providing healthcare providers with a way to remotely monitor their patient’s health and intervene if necessary, potentially preventing hospitalizations and improving patient outcomes.
