Retia Medical, an innovator in advanced hemodynamic monitoring, today announced that it has secured $15 million in Series B funding.
The financing round was led by Fresenius Medical Care Ventures with participation from a second strategic investor, Red Cedar Ventures, and existing investor, the Pritzker-Vlock Family Office. Retia Medical will use the funding to expand its commercial team and accelerate the development of its next-generation algorithms for guiding care for high-risk patients.
“We are delighted to work with our new partners from Fresenius Medical Care, the second strategic investor, and Red Cedar Ventures to make advanced hemodynamic data accessible to as many clinicians as possible in order to help improve outcomes for high-risk surgical and critically ill patients,” said Marc Zemel, S.M., M.B.A., Co-Founder and Chief Executive Officer of Retia Medical.
Commenting on the investment, Al Wiegman, Head of Fresenius Medical Care Ventures, said, “This financing is an important step forward in advancing the commercialization of Retia’s Argos Cardiac Output Monitor, which provides consistently accurate data to help ensure patient safety and avoid serious complications from high-risk surgeries and ICU stays. We are impressed with the strength of the Retia team, their technology, and their commitment to innovation. We are proud to lead this financing and look forward to supporting Retia through its next phase of growth.”
Retia Medical’s Argos Cardiac Output Monitor enables individualized, data-driven care to improve outcomes and lower costs for high-risk surgical and critically ill patients. This hemodynamic monitor features the powerful Multi-Beat Analysis (MBATM) algorithm for consistently accurate cardiac output measurements. Unlike other monitors that only analyze a single beat at a time, Argos’ proprietary MBA algorithm analyzes multiple heartbeats to model the patient’s physiology and therefore provide high-quality hemodynamic data in real-time. The system detects important changes in a patient’s status and enables immediate clinical intervention, when required. Designed to streamline care, the next-generation Argos Monitor can be set up in less than one minute and leverages a patient’s existing arterial line for immediate use without requiring costly additional disposables or connections.