Medical device maker Sotera Wireless raised $20 million in equity, securities, and options, according to a filing in the SEC. This brings their total announced funding to almost $50 million. The filing also shows that Sotera hopes to raise another $33 million.
Existing Sotera investors include Safeguard Scientifics, Delphi Ventures, Sanderling Ventures, Qualcomm Ventures, EDBI, Intel Capital, Cerner Capital, and the West Health Investment Fund.
Sotera's main product, called ViSi Mobile, monitors blood pressure, heart rate or pulse rate, electrocardiogram (ECG) or heart rhythm, blood oxygenation level, respiration rate and skin temperature from a wearable sensor system with a wristworn screen. The system is meant to cut down on the number of wires connected to a patient in a hospital bed. The product is also intended to help clinicians keep track of patients in the hospital or while patients are in transit.
The technology received FDA 510(k) clearance for its full system in August 2012, but in October 2013, Sotera Wireless received an additional FDA 510(k) clearance for ViSi Mobile's continuous noninvasive blood pressure (cNIBP) monitoring software, which enables continuous blood pressure monitoring without a cuff or catheter.
In December 2013, Scripps Health announced a pilot program using Sotera Wireless’s ViSi mobile with up to 30 patients at Scripps Green Hospital in La Jolla, California. Although the Scripps Translational Science Institute has used ViSi devices before, this pilot marks the first time Scripps has used the device in a real-world clinical setting. Other hospital systems that have already adopted the ViSi mobile system include Intermountain Healthcare in Utah and Palomar Pomerado.