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Intelomed Raises $4M with Series A-1 Round

Mon, 09/09/2013 - 9:00am
The Associated Press

Intelomed, Inc., a developer of noninvasive medical devices and technology for monitoring cardiovascular stability, today announced it has secured $4 million in funding from new and existing shareholders through the sale of its Series A-1 Common Preferred stock.  The funding will be used to launch sales efforts and pursue additional clinical validations for newly implemented product features.

"At Intelomed, we believe we have a great opportunity to introduce meaningful improvement to the quality of care in a variety of areas within healthcare.  Over the past two years, we have made great progress and look forward to not only continuing that momentum but accelerating it," said Frank Amoruso, President and CEO of Intelomed.

"We are very fortunate to have a strong network of investors that believe in our vision and approach.  While our investor network includes investors local to Pittsburgh, the majority of our funding was received from the New York and California area." Intelomed's flagship product, CVInsight@, will be introduced to the Hemodialysis industry and the Long-term Care and Nursing Home industry over the next several months.  "Initially, we will focus on two markets where we feel there are clear unmet needs that we can address.  When the time is right, we will expand into other markets, determined by need and likely adoption rate." About Intelomed Intelomed is a privately held medical technology company, established in 2005 and headquartered in Pittsburgh, Pennsylvania. They are focused on developing innovative software and noninvasive devices for monitoring cardiovascular stability in real-time, as well providing a database of information that will enable improved patient care.

Intelomed's ability to provide intelligent operational medicine via their technology will directly and positively impact the initial areas of dialysis, long-term care, nursing homes and cardiology.

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