ALEXANDRIA, Va. and SAN JOSE, Calif., Nov. 29, 2017 /PRNewswire-USNewswire/ -- Oxford Finance LLC, a specialty finance firm that provides senior debt to life sciences and healthcare services companies, today announced the closing of a $20 million senior secured term loan with VitalConnect, Inc., a leader in wearable biosensor technology for wireless monitoring in hospital and remote patient populations. The funds are being used to further the commercialization of the VitalConnect solution suite for both hospital and remote patient monitoring markets.
The VitalConnect solution integrates the VitalPatch® biosensor with mobile and cloud-based software and analytics so patients can be monitored around the clock and across care settings. Patients enjoy the comfort the VitalPatch provides while caregivers have access to unprecedented insight into a patient's health.
"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."
VitalConnect's chief executive officer, Nersi Nazari, PhD, added, "VitalConnect is focused on delivering solutions that save lives and improve patient care - providing data and analytics that will improve care decisions when it matters most. The expanded debt facility provided by Oxford Finance in addition to our recent funding raise will allow us to continue to focus on these goals by expanding our commercial footprint and while accelerating our pipeline development."
About Oxford Finance LLC
Oxford Finance is a specialty finance firm providing senior secured loans to public and private life sciences and healthcare services companies worldwide. For over 20 years, Oxford has delivered flexible financing solutions to its clients, enabling these companies to maximize their equity by leveraging their assets. Oxford has originated over $4 billion in loans, with credit facilities ranging from $5 million to $100 million. Oxford is headquartered in Alexandria, Virginia, with additional offices in San Diego, California; Palo Alto, California and the greater Boston and New York City areas. For more information, visit oxfordfinance.com.
About VitalConnect, Inc.
VitalConnect is a leader in wearable biosensor technology for wireless patient monitoring in both hospital and remote patient populations. VitalConnect leverages extensive expertise in biomedical engineering, data analytics, chip design, and mobile and cloud software, to create technology that supports decision-making paradigms that achieve better health and economic outcomes. VitalConnect's products are designed for use in a broad range of inpatient and outpatient settings, such as hospital monitoring, post discharge care, cardiac monitoring and pharmaceutical solutions. For more information: vitalconnect.com.
SOURCE Oxford Finance LLC