EarlySense today said it has sold its contact-free continuous monitoring technology to Hillrom.
Through the deal, EarlySense will receive licensing for all intellectual property and technology sold to Hillrom and $30 million in cash with potential payments based on certain commercial milestone achievements. EarlySense will also receive a portion of Hillrom’s equity investment in the company.
“We set out to save lives and improve care by implementing AI-based contact-free patient monitoring in healthcare facilities across the globe,” EarlySense CEO Matt Johnson said in a news release. “We made great progress by becoming the standard of care in Hillrom’s flagship Centrella Smart+ hospital bed. Our technology has already monitored more than one million patients and helped clinicians save tens of thousands of lives, and we expect to accelerate this significant impact as a result of this technology sale to Hillrom.”
EarlySense’s technology allows for the continuous monitoring of heart and respiratory rates without touching a patient. It alerts clinicians to potential patient deterioration events earlier than traditional monitoring methods.
“EarlySense’s contact-free continuous monitoring technology provides caregivers with a full picture of patient health, allowing for intervention at the earliest signs of patient deterioration,” Hillrom president and CEO John Groetelaars said. “We look forward to bringing this critical technology to additional customers around the world as we deliver on our vision of Advancing Connected Care.”
“The COVID-19 pandemic has created historic opportunities for smart health technologies outside the hospital, and this transaction will allow us to continue serving our global customer base and apply our clinically proven technology to this high-growth sector. Our more than one hundred million patient-monitored hours uniquely position us to deliver intelligent, predictive, and patented solutions that elevate remote patient care without increasing the risk of harmful infection,” Johnson said.