Sleep Apnea Device Maker Raises $11.5M with Private Placement

Electrophysiologists (EPs) who are managing atrial fibrillation (AF) patients who also suffer from sleep apnea have found that catheter ablation is most effective when used in conjunction with a CPAP regimen, yet there is a huge disconnect between the EPs and the sleep experts. That disconnect is what inspired Itamar Medical to develop SleePath, an integrated digital health sleep apnea care pathway monitoring system that allows cardiologists to monitor patients with AF sleep apnea status and compliance with CPAP devices on demand. The Caesarea, Isreal-based company unveiled SleePath last May at Heart Rhythm 2018, the annual meeting of the Heart Rhythm Society. This week the company announced that it has finalized the terms of a private placement worth $11.5 million. Itamar plans to use the proceeds to accelerate its revenue growth through direct expansion of its sales and marketing initiatives. "The product was born out of our [cardiology] customers telling us that the big missing link for them is once they refer a patient to the sleep side, it's radio silence," Gilad Glick, CEO of Itamar Medical, told MD+DI in May. "They have no idea if the patient is undergoing a sleep study, they have no idea if a CPAP was fitted on them, and they have no idea if the patients complied with the therapy." Using data from a CPAP machine from Philips Respironics, SleePath includes a cardio sleep dashboard that allows physicians to track multiple aspects of a patient's s...
Source: MDDI - Category: Medical Devices Authors: Tags: Business Source Type: news