Retia Medical Raises $7 Million to Develop Accurate, Less-Invasive Cardiovascular Monitor
EAST LANSING, Mich., Aug. 16, 2012 /PRNewswire-iReach/ -- Retia Medical, a medical device company pioneering the field of cardiovascular signal processing for patient monitoring, announced it had raised $7 Million in Series A funding. The Pritzker/Vlock family office led the investment in Retia, which was co-founded by Rama Mukkamala, Associate Professor of Electrical and Computer Engineering at Michigan State University (MSU), and Marc Zemel, Chief Executive Officer, experienced entrepreneur and formerly of Becton Dickinson.
Retia has created a new, less-invasive system to monitor cardiac output (CO) and other key measures of the cardiovascular system accurately when patients go into shock. This system is based on a core platform technology that was developed at MSU.
"The literature is rife with case studies showing how current less-invasive technologies fail during hemodynamic instability," said Mukkamala, an internationally recognized expert in the field of cardiovascular signal processing. "We performed competitive testing during similar conditions and showed dramatic improvements in accuracy with Retia's monitor that can lead to better clinical decision making."
Currently, at least 15 million surgical patients and 3 million intensive care patients worldwide could benefit from accurate, less-invasive CO monitoring.
"Our vision is to enable physicians to achieve better patient outcomes via improved monitoring," said Zemel. "Retia's CO monitor can help clinicians detect when patients go into shock, make faster diagnoses, and optimize fluid and vasoactive drug administration."
"With this technology platform, we have the potential to develop advanced monitoring of heart failure and hypertension patients in the hospital or at home," continued Zemel.
Using the proceeds from this Pritzker/Vlock