OSF Ventures, the corporate investment arm of OSF HealthCare, was part of an investor syndicate helping Woodridge, Illinois-based medtech company, Endotronix, Inc., close a $32 million series C round of financing.
Nearly 6 million Americans live with heart failure. It is the leading cause of hospitalization for people over 65 with annual treatment costs exceeding $31 billion. Founded in Peoria, Endotronix, developed a sensor that’s implanted into an artery and monitors blood pressure. That information is transmitted to a patient’s doctor in real-time to better manage advanced heart failure.
“The technology will result in early patient intervention,” said Stan Lynall, Director of Venture Investments for OSF. “It also offers promise to significantly reduce costs to the healthcare system while dramatically improving patient care.”
The Series C financing will fund Endotronix’s clinical program including commercialization of its cloud-based outpatient management systems and the safety and feasibility study for its implantable wireless sensor.
Endotronix is the sixth investment made by OSF Ventures this year. The previous five include Pieces Technologies, Inc. in Dallas, TX; Health Catalyst in Salt Lake City, UT; Pulse Therapeutics, Inc. in St. Louis, MO; AVIA in Chicago, IL; and BrightWater Medical in Mountain View, CA.
About OSF Ventures
OSF Ventures is the corporate investment arm of OSF Healthcare System that partners financially and operationally in companies that improve patient outcomes and reduce the financial burden to health care systems. OSF Ventures also invests strategically through product incubation and acceleration.
About Endotronix, Inc.
Endotronix, Inc. is a digital health medtech company developing an integrated platform to provide comprehensive, reimbursable health management tools for patients suffering from advanced heart failure. The company’s comprehensive solution includes a cloud‐based disease management data system and outpatient hemodynamic management with a breakthrough implantable wireless pulmonary artery sensor for early detection of worsening heart failure.