Samsung to Invest in Hospital Patient Monitoring Firm

As part of a strategic technology development plan in the Internet of Things (IoT), Samsung (Seoul, Republic of Korea) will invest USD 10 million in patient monitoring firm EarlySense (Ramat Gan, Israel).

The EarlySense system is designed for use in non-emergency room or even home settings, using sensors embedded into a mattress or chair cushion to monitor heartbeat, respiration rate, and movement. The data is transferred to a monitoring station, either local or remote, with the system setting off alarms in the event that something appears amiss. The system monitors patients who are unwilling or do not need to be connected physically to monitors and sensors in thousands of hospitals, nursing homes, and home settings around the world.

“EarlySense has developed and brought to market a unique, breakthrough technology that will improve the lives of consumers through health parameter sensing and monitoring,” said Gonzalo Martinez de Azagra, head of Samsung Ventures Israel. “Our investment is evidence of our belief in the need to bring sensors to hundreds of millions of consumers and we will do all that is in our hands to contribute to EarlySense’s accelerated growth.”

“IoT is a source of infinite potential that can enrich livelihoods and protect people depending on their needs and situations, further changing society and the economy,” said Yoon Boo-keun, head of Samsung Electronics’ consumer products unit. “Samsung’s IoT products will contribute to solving humanity’s issues by expanding the scope of connection from home and cities, and to the globe.”

“We are happy to have Samsung join our vision of bringing smart sensors to health and wellness at homes, hospitals and long term care,” said Avner Halperin, CEO of EarlySense.
”As a global leader in consumer products, Samsung can increase our reach to homes and will facilitate accelerated growth in that market. We are also honored by the vote of confidence from our existing investors, including Welch Allyn and the ongoing partnership we share together.”

The other half of EarlySense’s USD 20 million investment round was shared with Pitango Venture Capital (Herzliya, Israel), medical device manufacturer Welch Allyn (Skaneateles Falls, NY, USA), which has integrated it in the Connex clinical surveillance system (CSS), JK&B, Proseed, and Noaber.

Related Links:
Samsung 
EarlySense
Pitango Venture Capital