Big bet on telecare: $13.7 million round for Healthsense (US)

Remember telecare? Healthsense, a Minnesota-based developer and provider of telecare systems, is raising $13.7 million in funding, according to a Securities and Exchange Commission (SEC) filing dated 17 May. According to MedCityNews‘ interview with their CFO Sue Horvath, the money will be raised in two rounds, the second of which is expected to be at the end of June. The SEC Form D indicates that equity, debt and options are all part of the deal (contradicting Ms. Horvath’s comment that there is no debt involved.) The SEC form also does not disclose the size of the company. Healthsense received a $7 million funding round from VCs Radius Ventures and Ziegler HealthVest in August 2011 [TA 25 Aug 11], the West Health Investment Fund in October 2011 and earlier from the Ziegler Companies. This substantial amount at an uncertain economic time, and in non-mobile (=non-sexy) indicates that there is hope for systems that one can only assume are effective in home care, senior communities and skilled nursing facilities which are Healthsense’s key markets. Firm enabling healthy aging raising $13 million from strategic investors (MedCityNews)