Bardy Diagnostics has announced that it has raised additional growth capital from its existing equity investors, including SV Health Investors (“SVHI”), Health Enterprise Partners, and Ascension Ventures. The growth capital will be used to expand BardyDx’s sales force and monitoring services, advance research and development programs, and accelerate development of artificial intelligence diagnostic capabilities.
“We are excited and fortunate to be backed by a strong syndicate of investors that believe in and continue to support our vision to deliver industry-leading and disruptive cardiac monitoring technologies,” said Gust H Bardy, Founder and CEO of BardyDx. “The capital will enable us to properly scale to match the rapidly growing demand for the CAM patch and develop a portfolio of P-wave focused product solutions to address the varying and evolving cardiac monitoring needs of healthcare professionals and their patients.”
Mark Handfelt, BardyDx’s chief operating officer, continued, “Growing awareness among healthcare professionals about the importance of the P-wave visualisation technologies pioneered by the CAM patch has resulted in strong sales growth. To match increasing monitoring volumes, a portion of the funding will be deployed to expand our monitoring services center and to aid in development of automated arrhythmia detection technologies, a key component of the ongoing R&D efforts at BardyDx to redefine and elevate the standard of care in cardiac monitoring.”
“We have strong confidence in the ability of Bardy Diagnostics to transform the cardiac monitoring industry by delivering market-changing diagnostic technologies that drastically improve clinical management and outcomes for patients,” said Paul LaViolette, managing partner at SVHI. “We are very pleased with BardyDx’s clinical and commercial success and look forward to helping the company become the global standard of care in the diagnosis of arrhythmias.”