SAN FRANCISCO, May 1, 2017 /PRNewswire/ — ReThink Medical, a leading data-driven heart failure medical device and digital health company, announced today a Series A investment of $3 million led by medical device equity firm Emergent Medical Partners (EMP). EMP will lead the round with additional funds coming from investors Norwich Ventures and Launch Capital. This is in addition to the two National Institutes of Health (NIH) grants that were awarded to ReThink Medical and a strategic partnership with the Japanese medical device company, Terumo Corporation. The financing will be used to fund ReThink Medical’s clinical trials and for further investment in its proprietary technology platform. Bob Brownell, managing director at EMP, will join ReThink Medical’s board of directors.
ReThink Medical uses predictive physiologic data to prevent hospitalizations for heart failure patients. By monitoring and analyzing data from patients in an ambulatory setting, ReThink’s proprietary algorithms can predict worsening conditions and alert physicians to take data-driven proactive measures for their patients. This prescriptive action can change the trajectory of heart failure patients and thereby eliminate a potential hospitalization.
“Emergent is extremely experienced in terms of bringing innovative ideas to fruition within the medical arena and we are excited to be aligned with them and our other investors to fundamentally enrich patient care using technology,” said Reza Naima, CEO of ReThink Medical. “We are thankful to have a partner on board that provides us not only capital but also vast strategic experience in our market.”
Norwich Venture’s Founder and Managing Director Aaron Sandoski added “It’s clear that ReThink Medical’s proactive approach and technology will help drive down costs, improve quality of life, and create better outcomes for patients and health care providers in a field craving innovative solutions.”
About ReThink Medical
Founded in 2010 in San Francisco, ReThink Medical’s solution changes the reactive nature of health care specific to heart failure by drastically reducing costs and significantly improving the quality of life for the patients affected by this disease. ReThink’s focus is to disrupt the standard of care that costs the US over $30 billion and affects more than 5 million people in the US annually.
About Emergent Medical Partners
Emergent Medical Partners is a life sciences investment firm that focuses on medical device and healthcare companies. They have over 50 years of experience creating and investing in medical devices and healthcare companies. Their focus is on early stage companies and their investments span all areas of medicine, including: cardiovascular and general surgery, orthopedic surgery, cardiology, radiology, oncology, obesity, gynecology, oncology, and sleep disorders.
About Norwich Ventures
Norwich Ventures is a specialized venture capital firm focused on early-stage medtech. They invest in entrepreneurs developing game-changing technologies that solve large unmet medical needs. Norwich provides initial capital in seed and early-stage rounds and approach each investment with a long-term perspective and continue to support and invest in the company throughout its phases of growth.
SOURCE ReThink Medical