This Chicago startup is raising big money to keep a pulse on your blood pressure.
Endotronix, a Woodridge-based maker of cloud-enabled tools that help patients with advanced heart failure, announced on Monday it has raised $12 million in debt financing from Silicon Valley Bank.
The company raised a $32 million Series C round last July. That round was raised to fund a safety and feasibility study for its implantable, cloud-connected sensor for heart patients, and to help Endotronix commercialize its cloud-based software solution that lets healthcare providers monitor patients’ conditions after they leave the hospital.
“This financing builds on our recent Series C round and we are thrilled to be working with the SVB team,” said CEO Harry Rowland in a statement. “We look forward to advancing our clinical program with proactive heart failure management that simplifies at-home care and improves patient outcomes.”
Endotronix aims to improve patient care and reduce the cost of treating patients with heart failure by giving doctors a heads up about changes in blood pressure as soon as they arise. In a release issued at the time of its Series C, the company cited a 2011 study that found a significant reduction in hospitalizations from heart failure after adopting such real-time monitoring technologies. Heart failure is the leading cause of hospitalization for Americans over 65.
Read the full story at Built In Chicago.