San Francisco (California, US), Cambridge (Massachusetts, US) –Spire Health, the leading provider of respiratory remote patient monitoring(RPM), today announced the closing of a $38 million equity financing, led by Gilde Healthcare Partners along with a leading global medtech strategic partner. Geoff Pardo, General Partner at Gilde Healthcare, will join Spire’s Board of Directors. Spire Health was advised by JMP Securities LLC in the transaction.
The new capital will enable Spire to expand commercialization of its unique respiratory remote patient monitoring (RPM) platform. This will create greater access for patients and pulmonologists to Spire’s easy-to-use solution to help reduce hospitalizations. The financing also provides Spire with additional capital to continue generating clinical and economic evidence and further invest in R&D.
Spire’s approach helps patients and their providers better manage chronic respiratory diseases by providing remote monitoring devices and services that fit seamlessly into everyday life. For the 16 million people in the US suffering from Chronic Obstructive Pulmonary Disease (COPD), exacerbations are challenging to predict and frequently lead to emergency department visits and hospitalizations. In addition to being the third leading cause of death globally, COPD often results in poor quality of life and high healthcare costs. Spire’s combination of sensors that attach directly to clothing, AI-based predictive algorithms, and clinical monitoring service all act to help predict exacerbations and potentially enable early clinical intervention for improved patient outcomes.
Chris Raanes, CEO of Spire Health, said, “we are thrilled to close this round with Gilde and our existing investors. This financing will allow us to enhance our commercial capabilities to deploy Spire RPM to pulmonologists and patients across the country, as well as enabling us to continue to invest in the product and evidence set to show the real-world effectiveness of our solution.”
Geoff Pardo, General Partner at Gilde Healthcare, said, “COPD remains an area of high unmet need where patients often struggle to manage their disease and providers feel disconnected from their patients. Spire’s patient-centric approach fits seamlessly into the existing lives of both patients and providers to make adoption truly frictionless. We’re excited to join them in their mission to improve care for this large, underserved population.”
About Spire Health
Spire Health is the leading digital healthcare company for continuous respiratory monitoring and actionable feedback. The Spire Health Tag enables remote patient monitoring with unparalleled adherence and clinical-grade accuracy. Spire Health’s remote patient monitoring approach has the potential to identify and predict health events, enable early interventions, and prevent hospital admissions. Spire is backed by leading medical health investors and has received a grant from the USDepartment of Health and Human Services. For more information visit: spirehealth.com.
About Gilde Healthcare
Gilde Healthcare is a specialized healthcare investor managing over $1.5 billion across two fund strategies: venture & growth capital and private equity. Gilde Healthcare's venture & growth capital fund invests in fast growing companies active in digital health, medtech and therapeutics. The venture & growth companies are based in Europe and North America. For more information, visit the company's website at www.gildehealthcare.com.