Personal MedSystems GmbH wins French investor Seventure Partners, concludes series A financing round with total volume of 2.5 million EUR
Personal MedSystems GmbH, with locations in Berlin and Frankfurt am Main, develops products and services for mobile healthcare. The Company is receiving growth financing in the amount of 2.5 million EUR from the French investor Seventure Partners. The capital will be used for the further development and market introduction of the company’s products.
Myocardial infarction patients with recurring angina pectoris or cardiac arrhythmia often face the question of whether or not they need to call for medical assistance. In the case of a heart attack, rapid action is necessary. However, symptoms are often indistinct or non-present. Rapid action on one hand and unclear symptoms on the other often present patients with a dilemma. As a result, patients usually contact professional help too late. Only 11% of all infarction patients receive an intervention within the first “golden” hour. Patients with coronary heart disease need a reliable trigger to act.
CardioSecur® from Personal MedSystems GmbH, founded in 2008 by Felix Brand and Dr. Markus Riemenschneider, is the first mobile 12-lead electrocardiograph (ECG) for smartphones and tablets (e.g. iPhone®, iPad®). The 150-gram, minimalistically designed high-tech ECG cable connects directly to the end device, provides an immediate and personalized evaluation and provides patients a direct recommendation to act according to the applicable guidelines of professional cardiological associations.
CardioSecur® is very easy to use: a control measurement takes only 1 minute. Instead of the usual 10 electrodes, CardioSecur® requires only four electrodes that are quickly arranged and produce excellent signal quality. A unique algorithm even allows patients to permute i.e. interchange electrodes, for instance in stress situations and corrects any misplacement automatically. The CardioSecur® App evaluates the ECG data self-sufficiently. There is no need for any interpretation by medical call centers or the like.
“The Series A financing will allow us to introduce our approved products on the national and European markets,” says Felix Brand. “We are pleased to make CardioSecur available to cardiovascular patients and physicians. We see great potential in the combination of smartphones and tablets with high-quality med-tech applications. The unexpectedly high demand for our products confirms this.”
Dr. Robert Schier of Seventure Partners says, “Seventure Partners invests as a key principle only in high technology companies that have strong growth potential and solid business models. The CardioSecur® products not only meet both of these prerequisites, but also represent a product category that will set new standards for the future of our health care system. With our investment in Personal MedSystems GmbH, Seventure is not only participating in this exciting trend, but has also the opportunity to actively participate in this development.”
Kay Balster, Investment Manager at HTGF, says, “We are very happy to have attracted Seventure Partners for our Series A round. The investment will enable Personal MedSystems to bring its promising technology to market and realize its growth potential..”
About Personal MedSystems GmbH
Personal MedSystems develops and markets products and services for mobile health care that are unique in their level of innovation, ease of use, and minimalistic design.
Personal MedSystems specializes in high-quality 12-lead ECG technology with reduced electrode systems. The goal is to develop professional ECG systems that are personalized and applied by private individuals. This requires extraordinary user friendliness. Personal MedSystems is a privately owned company.
About Seventure Partners
Established in 1997, Seventure Partners is a key player in European venture capital with almost € 500 million under management. As an active partner of French and European technology firms with strong growth potential, we finance the development of innovative companies in two areas: Information & Communication Technology and Life Sciences. Seventure has built an impressive investment track record over more than 10 years. The team has completed over 50 exits, 15 of which were IPOs. In Life Sciences, our four preferred sectors are Biotech & Pharmaceuticals, Medtech & connected health, Industrial Biotech & Cleantech, and Microbiota, Nutrition & Lifestyle. Seventure also considers investments in diagnostics, biomarkers, drug delivery systems, environment, bio-energy, and services.
Robert Schier, Advisor to German and Austrian Investments
Ruelle des Jardins 4
1166 Perroy, Switzerland
Phone: +41 78 6756672
About High-Tech Gründerfonds
High-Tech Gruenderfonds invests in young, high potential high-tech start-ups. The seed financing provided is designed to enable start-ups to take an idea through prototyping and to market launch. Typically, High-Tech Gruenderfonds invests EUR 500,000 in the seed stage, with the potential for up to a total of EUR 2 million per portfolio company in follow-on financing. Investors in this public/private partnership include the Federal Ministry of Economics and Technology, the KfW Banking Group, as well as strategic corporate investors including ALTANA, BASF, B. Braun, Robert Bosch, CEWE Color, Daimler, Deutsche Post DHL, Deutsche Telekom, Evonik, Lanxess, media + more venture Beteiligungs GmbH & Co. KG, METRO, Qiagen, RWE Innogy, SAP, Tengelmann and Carl Zeiss. High-Tech Gruenderfonds has about EUR 573.5 million under management in two funds (EUR 272 million HTGF I, EUR 301.5 million HTGF II).
High-Tech Gründerfonds Management GmbH
Phone: +49 (0)228 823001-00
Fax: +49 (0)228 823000-50