MELBOURNE, Australia and SEVERNA PARK, Md., Aug. 31, 2012 /PRNewswire/ -- Medical technology company iSonea Ltd (ASX: ISN; OTCQX: ISOAD) has raised $1.05 million via a private placement of shares to Investment Holdings Pty Ltd, an entity owned and controlled by prominent Australian businessman Bruce Mathieson.
The share placement means Mathieson is now a cornerstone investor of the company, with a 15 percent ownership position. The placement covers the company's entire 15 percent issuance capacity and will be followed by an entitlement issue to all shareholders.
Announcing the placement, iSonea Chief Executive Officer Michael Thomas said the investment recognizes the pioneering nature of iSonea's asthma and acoustic respiratory monitoring (ARM™) technologies, as the company sets itself to lead in the global explosion of mobile health disease management.
Thomas continued: "iSonea is committed to developing innovative, non-invasive devices and mobile health applications to improve the management of chronic and costly respiratory disorders such as asthma and COPD. After the successful launch of our AsthmaSense™ mobile smartphone app this summer, the company is now focused on integrating our existing proprietary ARM sensors and analytical software with the AsthmaSense mobile smartphone app to develop an app based wheeze monitor known as AirSonea™."
AirSonea will run on smartphone (iPhone and Android) platforms, enabling anyone, anywhere, at any time to conveniently monitor asthma events and take appropriate action to control the condition.
Mathieson has held a passionate interest in the IT revolution and the impact of mobile technology on the future of healthcare. He