$20 million loan for wireless monitoring company
Oxford Finance LLC announced the closing of a $20 million senior secured term loan with VitalConnect Inc. The company, which makes wearable biosensor technology for wireless monitoring, will use the money to expand its VitalConnect solution suite for hospital and remote patient monitoring markets.
VitalConnect uses can wear the VitalPatch® biosensor, which allows caregivers to receive information about vital signs, including skin temperature, respiratory rate and heart rate.
"VitalConnect's technology enables healthcare providers to improve both the quality and efficiency of patient care," said Christopher A. Herr, senior managing director at Oxford Finance. "Oxford is excited to support VitalConnect in its mission to improve patient outcomes and reduce healthcare costs by providing the healthcare community with a clinical-grade wearable biosensor that enables high-quality and continuous, patient monitoring typically found in acute-care units."