Healthtech Startup Neteera Gains $13 Million in Series B for Contactless Patient Monitoring

Neteera Technologies Ltd., an Israeli-based startup disrupting the patient monitoring market, announced April 25th the successful closing of a ~$13M Series B funding round. 

The round was led by Aescuvest, a prominent healthcare investment firm, and included other new and existing investors, such as Omega Healthcare Investors – a leading US-based Healthcare REIT, focused on skilled nursing facility and assisted living facility operators across the United States and the United Kingdom, Nanz Family Office, Ankor Holding and Esas Private Equity. Neteera and Omega also formed a strategic partnership to offer Neteera’s technology to Omega’s healthcare operating partners.

The money from this latest funding round will help Neteera accelerate sales, production and deployment of its contactless patient monitoring solution and further feature development for its proprietary medical sensing platform. 

Health management, easier with digital technologies

The digital takeover of the healthcare industry has put health management literally into the palms of people’s hands. Whether with smartphone health applications or wearable devices, people are tracking their health in ways they never have before.

40% of U.S. adults said they use health applications, and another 35% use wearables, both up from late-2018 surveys. Health apps use has gone up by 6 percentage points since December 2018. When it comes to the devices themselves, wearables usage has grown by 8 points,  according to a new Morning Consult survey.

The wearables and health mobile apps have become so sought after, that the government now sees fit to provide such specific care for its employees. The Centers for Disease Control and Prevention (CDC) was recently seeking vendors to provide subscription-based licenses for digital health mobile applications that will be available to its staff members. The move is aimed at promoting and ensuring a safe and healthy work environment while improving workers’ health and well-being.

The investors are thrilled to be part of this endeavor

The Neteera technology is designed to enable continuous monitoring of patients’ bio markers without the need for contact or patient involvement, streamlining patient monitoring, improving outcomes, and reducing the burden on clinical staff.

“Aescuvest is committed to funding healthcare developments that have a positive impact on society, and we believe that Neteera’s innovative technology has the potential to revolutionize the way we monitor and care for patients,” said Sebastian Gührs, Partner & Head of Investment at Aescuvest.

Omega Healthcare Investors joined the investment round as well and cemented a strategic partnership with Neteera. As part of the relationship, Neteera will become Omega’s strategic partner for contactless patient monitoring and will offer its remote patient monitoring platform to Omega’s network of long-term care and skilled nursing facilities across the US.

“We are excited to partner with Neteera,” said Matthew Gourmand, Senior Vice President, Corporate Strategy of Omega Healthcare Investors. “We deployed their technology across a test group of facilities and received positive feedback from the operators, highlighting a reduction in hospitalizations and early recognition of changes in resident clinical needs. We believe this technology has the capacity to help caregivers, as they seek to provide high levels of care and comfort for their residents.”

Founded in 2015, Neteera quickly gained recognition for its unique FDA-cleared contactless remote patient monitoring platform. The platform, capable of continuous and seamless monitoring of patients’ bio markers in real-time, is improving patient care and operator efficiencies all over the globe. Together with the FDA clearance and the latest funding round, the company is poised to further disrupt the healthcare industry and bring its technology to more patients in need.

“We are thrilled to partner with Aescuvest and Omega as we continue to develop and scale our game changing solution,” said Neteera CEO, Isaac Litman. “With this funding and with Omega’s strategic partnership, we will be able to expand our reach and accelerate our mission to improve patient outcomes while reducing the burden on clinical staff.”

About Aescuvest

Aescuvest is a healthcare investment company that focuses on funding digital healthcare ventures to make a significant impact. As the operator of a dedicated investment platform, the company offers exclusive access to promising healthcare ventures and facilitates direct investments through SPV structures. By providing entrepreneurial investments in a thriving market, Aescuvest enables investors to participate in lucrative healthcare investment opportunities.

About Omega Healthcare Investors

Omega is a REIT that invests in the long-term healthcare industry, primarily in skilled nursing and assisted living facilities. Its portfolio of assets is operated by a diverse group of healthcare companies, predominantly in a triple-net lease structure. The assets span all regions within the U.S., as well as in the U.K.

About Neteera

Neteera’s FDA-cleared continuous, contactless, passive vital signs and bio-data monitoring solution provides better patient monitoring both for the crisis ridden healthcare system and home health. Our sensing platform eliminates the need for device manipulation, removal of clothing, and caregiver presence. Neteera’s technology is a based on a safe, maintenance-free, sub-THZ micro-radar on chip sensor solution that protects privacy as it is not based on a camera. We improve care and ultimately reduce healthcare costs by enabling optimal comfort for patients.