InfoBionic Receives $9 Million Venture Loan From Horizon Technology Finance

By James White Sunday, March 14, 2021

Closeup of an EKG monitor.

In an effort to advance patient care and the ability of physicians to respond to the needs of their clients quickly, Horizon Technology Finance Corporation, a leading venture lending platform for businesses across the life-science, technology, healthcare, and sustainability industries, has provided startup biotech company InfoBionic with a $9 million venture loan facility.

"We appreciate Horizon's confidence in what we are building at InfoBionic and how our MoMe® Kardia platform provides physicians with faster and more effective diagnoses of cardiac arrhythmias," said Stuart Long, CEO of the startup healthcare business. “Horizon's investment will help us to continue innovating and enhancing the productivity of our platform, which will further aid physicians and enable us to grow our business."

Since the founding of the biotech startup company in 2011, investors have poured over $93 million into the digital health business. Investors backing the startup business include Safeguard Scientifics, Blue Cross and Blue Shield of Kansas, Excel Venture Management, and others.

Live Cardiac Monitoring Solutions

InfoBionic was founded by entrepreneurs Jeremy Ruskin, Nancy Briefs, and Ravi Kuppuraj. Their goal for the digital health startup company was to improve diagnoses for patients by providing practitioners with superior ambulatory information while simultaneously cutting out the middleman in monitoring services.

"InfoBionic has created an ergonomic, easy-to-use wearable cardiac monitor that continually streams data to ensure a physician can rapidly and properly treat potentially serious cardiac arrhythmias," said Gerald A. Michaud, President of Horizon.

The MoMe® Kardia device is designed by the startup company to be simple and easy for patients to use. The small but powerful monitor from the startup business sends real-time data back to physicians, allowing practitioners to easily see how well patients are complying with their monitoring sessions. Furthermore, the software solution from the digital health company allows practitioners to immediately receive data and reports on any cardiac events experienced by the patients during the monitoring period, thus speeding up the process of formulating a diagnosis. The healthcare startup company claims that their product is “the only full disclosure transmitter on the market.”

"Our wearable remote cardiac monitor removes the complexity typically associated with the monitoring process and enables a direct physician and patient relationship,” Long said.

Bringing Cloud Computing Technology to the Healthcare Business

The digital health startup company uses a software-as-a-service (SaaS) model, offering its cloud-based data monitoring platform as a subscription for each device used by physicians. InfoBionic is attempting to disrupt the traditional business of patient monitoring by implementing cloud computing technology in its healthcare solution (to the benefit of both practitioners and patients). Market research projects the global healthcare cloud computing market to value $92.24 billion by 2027.

About the Author

Headshot for author James White

James White is a Michigan State University graduate with a B.S. in Environmental Biology. He is interested in reporting emerging trends in technology, especially with regard to alternative energy and environmental conservation.

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