Implicity, the French leader in remote monitoring of cardiac implantable electronic devices, announces a €4 million fundraising round with the participation of Serena, XAnge, Siparex and CapDecisif Management.
With more than 500,000 patients in France, cardiac implantable electronic devices (CIEDs : pacemakers and defibrillators) are among the most commonly used medical devices. Traditionally, the follow-up process involves two annual in person follow-up with the cardiologist to analyze the massive amount of data generated from the patient.
The home monitoring devices are manufactured and sold by five different companies worldwide (Abbott, Biotronik, Boston Scientific, Medtronic and Microport), which all transmit data to their unique platforms. This system of data retrieval does not simplify the work for cardiologists. Despite a decrease in mortality of up to 38%, making it a mandatory medical standard, the adoption of this technology has reached only 10% of patients in Europe.
This incomprehensible observation inspired Dr. Arnaud Rosier, a French cardiologist and AI researcher, to create Implicity in May 2016, with the goal of offering a universal platform that is compatible with all global devices. He quickly teamed up with David Perlmutter (ex-Airtag) and Louis Pinot.
This smart monitoring tool allows physicians to seamlessly track all of their connected patients for the first time. Every day, the thousands of transmissions received by hospitals cannot be perfectly analyzed by hospital staff under ever-increasing pressure and unstructured reception of data flows from patients who are not physically present. Through AI algorithms that contextualize the patient's medical record with device data, Implicity offers personalized telemedicine that is optimized in terms of medical resources.
Implicity's tool is part of the ETAPES program for the remote monitoring of cardiac implantable electronic devices, which allows medical teams to charge 130 euros per patient monitored per year.
After only one year of its deployment in France, Implicity is already the leading solution with more than 10% of patients followed on the platform (more than 8000 patients), about twenty public and private hospitals and a research partnership with a study led by Pr. Eloi Marijon (Paris’ Georges Pompidou European Hospital) and Dr. Serge Boveda (Clinique Pasteur in Toulouse).
To accelerate its development, Implicity raises €4 million from Serena, XAnge and CapDecisif Management. Implicity had already raised €800k in October 2017 from Business Angels.
This new fundraising will allow Implicity to:
- Respond to the exponential growth of the remote monitoring market for medical devices by strengthening the sales and marketing teams in France and throughout Europe.
- Explore new markets, with the deployment of the first data center in the United States in 2019.
- Accelerate the research and marketing of new "medical device" AI algorithms that improve the prognosis and follow-up of patients undergoing treatment while reducing the health resources required for this purpose.
Dr. Arnaud Rosier, CEO of Implicity, said: "Remote monitoring of cardiac implantable electronic devices is in principle the most successful area of digitalization in the Medtech sector, with clinical evidence of major improvements in patient prognosis, reduced costs to the healthcare system and optimized resources. However, there are many factors that prevent doctors from taking advantage of these telemedicine technologies, and therefore, patients from benefiting from them. This fundraising event, which brings together specialists in the field of data and digital health, supports Implicity's ambition to be the European leader in these technologies. We are delighted to have the support of Serena, XAnge and Cap Décisif Management in this adventure for the benefit of all stakeholders in the health system.”
"The paradigm shift in the use of patient data has a strong impact and Implicity is still in the early stages of development. In addition to providing effective remote monitoring, the technologies developed will filter alerts and predict heart failure. The founding team is already well known on this subject, and has convinced many institutions by the efficiency gain of the value proposition, and the place of the tool in their daily work cycles," explains Kamel Zeroual, Partner at Serena.
Copyright Business Wire 2019