Peerbridge Healthâ„¢ secures $11 Million of Additional Funding Hot on the Heels of Winning Medical Design Excellence Award

Peerbridge Healthâ„¢ secures $11 Million of Additional Funding Hot on the Heels of Winning Medical Design Excellence Award

NEW YORK, NEW YORK, UNITED STATES - 11/14/2019 — Despite cumbersome wires and bulky boxes, the Holter monitor is still the leading cardiac diagnostic tool for many doctors to manage and treat heart disease, but is it possible that the Holter has finally met its match? The Peerbridge Cor™ (Cor™) has been awarded the 2019 Silver MDEA Award for improving the quality of healthcare delivery and accessibility for diagnosing and quantifying arrhythmia burden for cardiac patients. 

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The Cor’s ability to record multiple channels within a 4-inch footprint on the chest is an industry first, improving diagnostic yield where traditional single-channel ECGs have been known to miss arrhythmia or, even worse, misinterpret one irregular rhythm for another. The Peerbridge Cor™ enables doctors to triangulate the heart’s activity, isolating multiple ECG channels, and deliver the multiple views of the heart needed to give doctors confidence in the data they’re using to make a diagnosis.

According to the American Cardiology Association (ACA), up to 6 million people in the U.S. have AFib,  an arrhythmia [irregular heartbeat] that can lead to blood clots, stroke, heart failure and other heart-related complications. Many patients don’t experience symptoms and are unaware they may have a dangerous irregular heartbeat. 

Older adults face higher risk: about 9% of people 65 and older have AFib, whereas about 2% of adults under 65 are affected. With an unprecedented number of Americans reaching retirement age, the challenge the medical community faces is how to effectively identify and treat AFib patients before their condition leads to more costly and debilitating health complications.

 

Excellence in Medical Design

Peerbridge Health is honored to accept the 2019 Medical Design Excellence Award in the category of Digital Health,” said Adrian Gilmore, Peerbridge CEO. “We are grateful that the benefits of our products are being recognized on such a notable stage and look forward to improving the lives of patients worldwide. The highest compliment we can receive is from the MDEA community and physicians that trust us with their patients’ health. We’re committed to continuing to maintain this high level of quality at all stages of Peerbirdge’s growth.

“Medically managing our patients and averting hospitalization is the reason for using wearable monitors and Peerbridge helps us achieve this positive outcome with definitively clear reports.” – Dr. Emrani, LA Heart

“We have seen a 50% improvement in establishing a diagnosis compared to alternative patch ECGs. This has the potential to save the health care system hundreds of thousands of dollars in unnecessary admissions related to strokes.” – Dr. Kolski, Orange County Cardiology

 

Peerbridge Cor™ - The System Advancing Ambulatory ECG

Designed and developed in collaboration with industry-leading physicians, the Peerbridge Cor™ is the first and only Ambulatory ECG Monitor (AEM) with the ability to classify 26 different arrhythmia indications, more than any other wireless patch ECG system.

This functionality helps ensure beats are not generalized or misinterpreted from one another, not dissimilar to Holter monitors, although without the interference of wires.

The Cor™ design, together with its powerful algorithms, addresses the needs of physicians with multiple channels of exceptionally clean ECG signal, critical for making a confident diagnosis. This, coupled with transmitting patient-activated-events, helps expedite the diagnosis of dangerous arrhythmia that affects a growing number of patients.

In addition to its superior clinical design, the Cor™ can be reimbursed under the most common ECG tests. The Peerbridge Cor™ is approved for multiple insurance codes, reducing the operational and economic burden on medical institutions managing multiple devices. 

Dr. Emrani of LA Cardiology says, “Because the Peerbridge Cor™ report clearly documents 20+ arrhythmias and delivers multiple channels of crystal-clear ECG data without encumbering the patient, [we can] cut our diagnostic evaluation time in half. I prescribe about two thousand ECG tests annually, and this report is far superior to anything I have seen to date.”

Demonstrating efficient use of capital, Peerbridge has built the Cor™ system from inception through regulatory approval and commercialization for under $35 million, most recently closing $11mm from New York’s largest hospital system, Northwell Health, Ascent Biomedical Ventures, and the company’s founder, Dr. Angelo Acquista. 

The Company continues to secure strong financial backing to support accelerating sales demand for its novel AEM system. Olipan Investments and Hong Kong based Kinled Holding Ltd. among others have joined in on this financing as the Company plans to expand reimbursement qualifications, further solidifying a strategically dominant position within the AEM market.

 

About MDEA

The Medical Design Excellence Awards (MDEA) is the premier awards program for the med tech industry. Since its inception in 1998, the mission of the MDEAs has been to recognize significant achievements in medical product design and engineering that improve the quality of healthcare delivery and accessibility.

 

About Peerbridge Health 

Peerbridge Health™ is a digital health company with a focus on advancing the diagnosis and treatment of heart disease. Peerbridge is committed to ensuring that the greatest care is extended to those who rely on our products and ECG reporting services.

The company holds several pioneering patents incorporating multiple on-body sensors that communicate vital sign information via a single transmitter.

 


Media Contacts:

Company Name: Peerbridge Health
Full Name: David F. Hartmann
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Website: https://www.peerbridgehealth.com/