ARC Devices Obtains $5 Million in Funding, Fueling Accelerated Launch of Breakthrough Products
Tuesday, May 21, 2019 9:00 AM
WEST PALM BEACH, FL / ACCESSWIRE / May 21, 2019 / ARC Devices Ltd, the parent company of Vital Inc., a data analytics company and emerging developer of connected medical devices, using bio-sensor technology to detect human vital signs in an easy-to-use and reliable method has received a $5 million investment from Avnet, a global technology solutions company. The funds will enable the market launch of Vital's new range of products.
The technology is revolutionizing the efficiency and quality of healthcare with wireless-connected, non-invasive vital sign measurement sensor technology, including HIPAA compliant cloud storage and transmission to EMR/EHRs. ARC Devices provides a comprehensive telehealth remote monitoring platform-allowing healthcare professionals to access and analyze patients' vital sign data anywhere in the world.
"Our goal at Vital is to detect and transmit key health data to all stakeholders involved in monitoring health from consumers/patients to healthcare professionals to healthcare organizations and payors/insurers - easily, reliably and at a fraction of the cost of existing methods," stated Vital Inc. CEO Mark Terrill. "Avnet has played a crucial role in our product development to date, and their investment will help us continue to move quickly into a multibillion-dollar market, currently served by cumbersome, mostly unconnected, and unnecessarily expensive solutions."
The first Vital Inc. product, set to launch mid-year, is a connected multi vital sign handheld device measuring six vital signs, including blood pressure, heart rate, heart rate variability, oxygen saturation, respiratory rate and temperature. The additional products on the roadmap are a non-invasive glucose monitor, as well as finger clips, separating individual tests for glucose and ECG monitoring.
"We are extremely thrilled to bring patient data, which can be instantly analyzed, readable on a phone app and transmitted via a HIPPA compliant cloud, to any dashboard," Vital Inc. CEO Mark Terrill stated. "In addition, these connected devices are designed as an easy-to-use and less expensive solution to this issue."
"The connectivity, insights and experiences enabled by IoT have the potential to help us solve many of the complex problems that plague our society, and nowhere is the opportunity more pronounced than in healthcare," said Bill Amelio, Avnet CEO. "Avnet's ecosystem is designed to help companies like Vital overcome the incredible complexity of developing smart, connected products at scale. We are delighted to provide them with financial support to speed their time to market and get their devices into the hands of patients who need them."
Neil O'Leary, Chairman of Arc Devices and a major investor in Vital Inc. confirmed, "Avnet is an excellent strategic partner for us. They have an unparalleled range of services for a developer and producer of products such as ours, along with a supportive can-do attitude. With Avnet's financial investment and support, we can move closer to fulfilling our strategic vision for our company and, ultimately, the patients the devices touch."
About ARC Devices/Vital USA
ARC Devices and Vital USA's mission is to improve healthcare delivery, communication and patient care by simplifying the processes of measuring and monitoring vital signs through our total patient solution. By harnessing advanced sensor technology, the company provides easy-to-use mobile access to accurate vital sign data for clinicians, providers and consumers alike.
To learn more visit https://vvvital.com.
Corporate address is 525 S. Flagler Dr, Suite 301, West Palm Beach, FL 33401.
Email: [email protected], Phone: 561-282-6074
To learn more about Avnet visit http://www.avnet.com
SOURCE: ARC Devices Ltd