BL Healthcare scooped up $3 million of a planned $5 million investment round, according to Mass High Tech. The company secured the money through the placement of preferred stock and warrants but the funders remain undisclosed. BL Healthcare developed a platform called TVx, which receives a patient's health information from various Bluetooth-enabled wireless devices in the home and displays the data on the person's television screen. Of course, the data also goes through a secure server to an online portal where doctors, nurses and other care givers can check-in on their patients.
"Mostly [the money] is for commercialization of these products," Michael Mathur, CEO of BL Healthcare, told Mass High Tech. "We want to be the volume supplier of these solutions."
Mathur founded the company in 2005 and received FDA approval for its core product in 2006. Mathur counts Intel, Andover's Philips Medical Systems and Honeywell HomMed among BL's competitors.
For more, read this article over at Mass High Tech