Bardy Diagnostics Secures $35.5M Series B Funding to Advance P-Wave-Centric Ambulatory Cardiac Monitoring Technology

VCBeat (WeChat Official Account: vcbeat) learned from foreign media that on April 16, U.S. local time, medical technology company Bardy Diagnostics completed a $35.5 million Series B financing round. The funds from this round will be used to support the expansion of the company’s healthcare business and advance the research and development of cardiac monitoring devices.

It is reported that this round of financing was jointly participated in by investment firms including River Cities Capital Funds and HealthQuest Capital. In addition, Bardy Diagnostics has expanded the size of its board of directors, with Rik Vandevenne, Managing Director at River Cities Capital Funds, and Gareng Kong, Managing Director at HealthQuest Capital, joining the Bardy Diagnostics board.

Bardy Diagnostics, Inc. is an innovator in the fields of digital health and remote patient monitoring, dedicated to providing the industry with the most accurate diagnostic cardiac patches and other monitors that are patient-friendly. The company’s cardiac patch is a non-invasive ambulatory cardiac monitoring device that uses P-wave detection as its standard. Designed for seamless integration into daily life, it enhances user adherence, improves patient experience, and expands market share.

Carnation Ambulatory Monitor (hereinafter referred to as CAM) is a lightweight, bandage-sized cardiac patch monitor designed to capture low-frequency electrical signals that form P-waves. By monitoring changes in these electrical signals, it enables the timely detection of health issues and generates data reports to help patients receive targeted treatment promptly.

The CAM patch is equipped with electrodes that can be connected to an ECG analysis device. Once the CAM is connected to the analysis device, monitoring data can be uploaded to the company’s information system. Healthcare professionals, such as medical teams, can directly access relevant patient case information from the company’s information system, thereby improving diagnostic efficiency and expanding the scope of services provided by the medical team.

Gust H. Bardy, Founder and CEO of Bardy Diagnostics, stated, “We are grateful to our new investors for their financial support. We will further advance the development of our cardiac patch technology and expand our business reach. We are committed to uncovering subtle details in electrocardiographic signals that have long been overlooked by the medical industry, thereby providing patients with more scientifically grounded care and meeting market demands.”

River Cities Capital Funds is an investment firm focused on investing in high-potential healthcare information technology companies, currently managing over $750 million in assets.

HealthQuest Capital is a growth equity investment firm focused on investing in healthcare startups, including medical devices, biopharmaceuticals, healthcare services, and health IT.

(Compiled by Liu Yujing)