HealthBeats, a Singapore-based healthtech startup with end-to-end remote vitals monitoring solution, today announced the close of a $3-million Seed round led by healthcare investor Heritas Capital together with SEEDS Capital, the investment arm of government agency Enterprise Singapore.
HealthBeats is a global Remote Vitals Monitoring platform designed to bring healthcare home. It provides patients with medical devices from multiple brands to be self-administered regularly at home and have their results transmitted real-time to their healthcare providers for proactive care management.
Its user-friendly platform supports a wide range of diseases using regulatory approved devices from multiple brands, and covering various vitals such as temperature, blood oxygen saturation, blood pressure, blood glucose, body weight and more.
HealthBeats has deployed its Remote Vitals Monitoring solution to 30 hospitals and clinics across Australia, working with various Primary Health Networks (PHNs) and Local Health Districts (LHDs) supporting various use cases such as chronic disease management, post-hospitalisation, emergency response for Covid-19 and clinical trials.
The company pals to expand remote vitals monitoring in Australia and Singapore with the fresh funding.
According to a large-scale Commonwealth Scientific and Industrial Research Organisation (CSIRO) telehealth study funded by the Australian government, remote monitoring of chronic diseases has the potential to save up to A$3 billion a year through reduction of avoidable admission by 53.2% and reduction in rate of length of stay by 75.7%.
Australian healthcare providers have also demonstrated positive clinical outcomes from the deployment of HealthBeats Remote Vitals Monitoring solution with some of them reporting reductions in avoidable hospital admissions by up to 50%.
The HealthBeats platform has also defied common belief that elderly chronic patients are less technological savvy with the largest pool of patients being aged 61 and above, with those aged 81 and above achieving the highest adherence even after 6 months.
“This Seed funding round will help boost our current strong growth momentum as we continue to deliver stellar value to our stakeholders through the acceleration of our product development and business development efforts,” said Aileen Lai, CEO and Founder of HealthBeats.