EarlySense Completes $39 Million Financing Round to Accelerate Global Expansion of Contact-Free Sensing and Analytics Solution
Hill-Rom and Wells Fargo Lead New Financing Round that Positions EarlySense to Capitalize on Multibillion Dollar Market Opportunity
EarlySense, the market leader in contact-free continuous monitoring solutions across the care continuum, announced that it has completed a $39 million financing round, with the majority of the funding coming from Hill-Rom, a global provider of medical technologies and the world’s leading hospital bed manufacturer, and Wells Fargo Strategic Capital, the venture capital and growth equity investment arm of Wells Fargo & Company.
Other new investors include BlueRed Capital, Israel Innovation Fund, Argos Capital and Hotung Capital. Existing investors, including Pitango Venture Capital and JK&B Venture Capital, participated as well.
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“Millions of beds worldwide require our continuous sensing and predictive analytics. As we continue our exciting journey to make our solution the standard of care, we are looking for the best strategic and financial partners to bring our solution to every bed,” said Avner Halperin, CEO of EarlySense. “We are honored to have Hill-Rom and Wells Fargo as our partners – each a unique leader and a globally revered brand in its field. Their commitment to enhancing patient care and safety empowers us to help healthcare professionals treat hundreds of thousands of patients. In 2018 alone, our technology helped providers save over $100 million, and played the pivotal role in preventing 3,000 deaths, 5,000 patient falls and 4,000 cardiac arrests… and this is only the beginning.”
Hill-Rom’s investment comes on the heels of the hospital bed manufacturer’s launch of the Centrella® Smart+ Bed, the world’s first hospital bed with integrated continuous contact-free heart rate and respiratory rate sensing and analytics technology.
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“Hill-Rom is committed to enhancing patient safety through cutting-edge technologies. Our Centrella bed is transforming inpatient care with integrated advanced sensing and analytics, offering a complete patient safety platform to assist clinicians in providing the highest level of care,” said John Groetelaars, president and CEO of Hill-Rom. “Our decision to change the standard of care by integrating EarlySense into our Centrella platform, and now our move to deepen our exclusive relationship with EarlySense through a significant equity investment, are key steps in that direction.”
EarlySense’s FDA-cleared and CE-approved solutions are used by healthcare facilities around the world. EarlySense technology leverages Big Data and advanced machine learning algorithms to generate highly accurate health information, empowering clinicians to achieve early detection of adverse events and improved patient outcomes. The combination of accurate identification and prediction enables proactive intervention by health teams and enhanced patient safety. The company’s contact-free, under-the-mattress sensing platform improves the patient experience, and provides 24/7 (100 times per minute) monitoring for patients who were previously monitored manually only every few hours.
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“As a global financial leader, Wells Fargo helps enable companies to become market leaders in their respective areas of focus. Wells Fargo Strategic Capital seeks to invest in companies that deliver a positive impact on patients and those who treat them,” said John Ryan, Managing Director of Wells Fargo Strategic Capital. “We look forward to working with EarlySense’s management and valuable partners such as Hill-Rom to improve how care is provided globally.”
“These are exciting times for EarlySense. The company has transitioned to a SaaS-like business model, and has since more than tripled its installed base in hospitals and nursing homes within the last year alone. The partnership with Hill-Rom is a natural fit to fuel the company’s vision of ‘an EarlySense sensor in every bed,'” said Ittai Harel, Managing Partner of Pitango Venture Capital and Chairman of EarlySense’s Board of Directors. “With the growth financing completed, we expect accelerating sales growth in the U.S. and globally, the adding of new AI-based analytics, and further expanding the company’s patient and health monitoring solutions offering, from hospitals to nursing homes and to the home.”
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I have noticed that over the course of developing a relationship with real estate proprietors, you’ll be able to get them to understand that, in each and every real estate purchase, a payment is paid. In the end, FSBO sellers tend not to “save” the commission rate. Rather, they fight to win the commission simply by doing a strong agent’s occupation. In doing this, they devote their money in addition to time to carry out, as best they can, the duties of an realtor. Those tasks include getting known the home via marketing, showing the home to willing buyers, developing a sense of buyer urgency in order to trigger an offer, booking home inspections, taking on qualification check ups with the financial institution, supervising maintenance, and facilitating the closing of the deal.
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I have realized that over the course of building a relationship with real estate homeowners, you’ll be able to get them to understand that, in most real estate contract, a fee is paid. Finally, FSBO sellers tend not to “save” the commission rate. Rather, they struggle to win the commission by means of doing a great agent’s occupation. In completing this task, they shell out their money in addition to time to complete, as best they are able to, the duties of an real estate agent. Those duties include uncovering the home by marketing, presenting the home to buyers, making a sense of buyer desperation in order to trigger an offer, making arrangement for home inspections, taking on qualification check ups with the financial institution, supervising maintenance, and assisting the closing of the deal.
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One thing I have actually noticed is that often there are plenty of myths regarding the banking institutions intentions when talking about property foreclosure. One myth in particular is the fact that the bank wants your house. The lender wants your hard earned cash, not the house. They want the money they lent you along with interest. Staying away from the bank will draw the foreclosed final result. Thanks for your publication.
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In these days of austerity plus relative stress about incurring debt, many individuals balk against the idea of making use of a credit card to make purchase of merchandise or perhaps pay for any occasion, preferring, instead just to rely on this tried plus trusted means of making repayment – raw cash. However, if you’ve got the cash there to make the purchase in whole, then, paradoxically, this is the best time just to be able to use the credit card for several causes.
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I’ve observed that in the world these days, video games include the latest craze with kids of all ages. Periodically it may be impossible to drag the kids away from the activities. If you want the best of both worlds, there are numerous educational gaming activities for kids. Great post.
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A different issue is that video gaming has become one of the all-time main forms of entertainment for people of any age. Kids enjoy video games, and also adults do, too. The actual XBox 360 is just about the favorite games systems for people who love to have a lot of video games available to them, and also who like to relax and play live with other folks all over the world. Thank you for sharing your thinking.
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I really believe that a property foreclosures can have a significant effect on the applicant’s life. Home foreclosures can have a Seven to decade negative effect on a applicant’s credit report. A new borrower having applied for home financing or any l**** for instance, knows that the actual worse credit rating is, the more tricky it is to secure a decent financial loan. In addition, it might affect a new borrower’s capacity to find a quality place to let or rent, if that will become the alternative houses solution. Interesting blog post.
Thanks for your content. One other thing is when you are marketing your property by yourself, one of the challenges you need to be conscious of upfront is how to deal with property inspection records. As a FSBO supplier, the key concerning successfully moving your property plus saving money about real estate agent income is understanding. The more you are aware of, the simpler your home sales effort will be. One area in which this is particularly essential is inspection reports.
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