Current Health has closed an $11.5 million funding round led by MMC Ventures, with participation from Legal & General, Par Equity and Scottish Investment Bank, the investment arm of Scottish Enterprise.
The capital will be used to scale Current Health’s platform, with the goal of preventing illness for one million patients around the world by 2021.
Founded in Scotland in 2015, Current Health uses wearable and wireless vital signs to analyse data to detect illness proactively and alert medical staff to high-risk patients so they can deliver healthcare earlier.
According to Current Health, the platform has enabled users to shorten their hospital stays, reduce hospital readmission rates, helped staff improve patient satisfaction, and deliver better patient outcomes.
Bruce Macfarlane, managing partner at MMC Ventures, said: “Current Health’s revolutionary solution offers unprecedented insight into patients’ health. Reliable, continuous patient monitoring enables earlier intervention in the event of patient deterioration, better patient experiences and fewer unnecessary hospital readmissions. Current Health has the right fundamentals to execute on a vast opportunity and become a global category leader in this important market.”
Christopher McCann, chief executive of Current Health, added: “We’ve spent the last three years quietly and carefully building and testing our platform directly with healthcare providers. We plan to scale our solution to better treat millions of lives over the next five years. By helping healthcare providers treat patients preventively and at the earliest point, we can play a key role in enabling sustainable, high-quality and universal healthcare delivery.”