VitalTech Affiliates Secures Series A Funding to Advance Digital Health Platform

On September 12, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that health technology company VitalTech Affiliates had completed its Series A financing round. The investors in this round were Concord Health Partners and Stanley Ventures.

Upon completion of this round of financing, VitalTech Affiliates will further develop its digital health platform, VitalTech™.

VitalTech is an innovative health technology company focused on developing digital solutions for remote patient monitoring. Its solution leverages advanced biometric wearable devices to collect patients’ health data in real time, enabling healthcare professionals to deliver treatment based on the data. The company has developed medical-grade biosensors integrated with wireless mobile devices. VitalTech’s mission is to transform lives through unprecedented innovation by providing data-driven insights to patients and caregivers, thereby facilitating better management of patient health conditions.

VitalTech’s digital health platform, VitalCare™, integrates features such as vital signs monitoring, medication reminders, and communication tools, streamlining workflows through remote patient monitoring and telemedicine to deliver enhanced care for patients.

James Hamilton, CEO of VitalTech, stated, “Integrability and ease of use are prerequisites for the success of digital health technologies. Guided by this philosophy, we developed the VitalTech™ platform to make health data smarter without burdening existing workflows. This financing will accelerate our go-to-market initiatives and expand our product roadmap.”

James Olsen, Founder and Managing Partner of Concord Health Partners, stated, “Concord’s investment in VitalTech reflects our strategic focus on enhancing healthcare value by reducing costs and improving the quality of medical services.”

Suzanne Foster, President of Stanley Healthcare, stated, “The healthcare division of Stanley Black & Decker is investing in companies that provide innovative solutions, thereby delivering safer and more effective care to patients.”

Concord Health Partners is an investment firm sponsored by the American Hospital Association that primarily invests in healthcare companies, with the aim of reducing costs and improving the quality of medical services. The team at Concord Advisors comprises key opinion leaders, executives, operators, entrepreneurs, clinicians, and consultants from hospital systems and Accountable Care Organizations (ACOs) across the United States.

Stanley Ventures is the venture capital arm of Stanley Black & Decker. The company primarily makes strategic investments in technology startups.

Stanley Black & Decker, founded in 1843 and headquartered in Connecticut, USA, is an industrial organization. The company employs 61,000 people across more than 60 countries. Stanley Black & Decker is also the world’s second-largest commercial electronic security company, with leading engineering operations and oil and gas infrastructure businesses. Its iconic brands include Black & Decker, Bostitch, CRAFTSMAN, DEWALT, FACOM, Irwin, Lenox, Porter Cable, and Stanley.

(Compiled by Hu Yifan)