Stasis Labs, a cloud-powered health monitoring company, today announced that it has raised $5M in a seed financing led by RTP-HC, the healthcare-focused investment arm of RTP Ventures, with participation from Wonder Ventures, Techstars Ventures, and others. Milena Adamian, MD, who previously founded LSAN & Azimuth Ventures, heads RTP-HC and will be joining the company's Board of Directors.
In June, Stasis graduated from the Techstars Healthcare Accelerator, in Partnership with Cedars-Sinai. Stasis was recently endorsed by the International Finance Corporation, part of the World Bank Group, to improve and expand the reach of medical technology worldwide.
Most hospital patients around the world are only seen by a nurse once every six hours. Due to the high cost and complexity of existing monitoring devices, these vulnerable patients are left alone without even a vitals monitor to watch over them. Tragically, up to 75% of injuries and deaths in hospitals happen to these vulnerable patients who lack basic medical supervision.
Stasis has built a cloud-connected vitals monitoring system that enables access to a fundamental medical tool around the world. 'Continuous monitoring of vitals is essential for any hospital that strives to improve their clinical outcomes. Stasis Monitors are able to do this without burdening the limited human resources of hospitals and with increased efficiency,' said Dr. Alben Sigamani, MD, Group Head of Clinical Research for the Narayana Health hospital chain.
Four years ago, Stasis CEO Dinesh Seemakurty was in India when his grandfather was admitted to the hospital. His grandfather prematurely passed away when doctors missed a deterioration in his vital signs due to a lack of adequate monitoring. 'As a trained EMT, I knew the technology existed, and yet, hospitals weren't buying it,' said Seemakurty.
Stasis COO Michael Maylahn's lifetime of exposure to medicine inspired a three-month medical research trip in rural Costa Rica. Constant reminders of his host family's poor access to quality healthcare drive his passion for global healthcare innovation.
Seemakurty and Maylahn met at the University of Southern California, where they completed biomedical engineering degrees. They teamed up with top engineers in their graduating class, Clayton Brand and Derek Nielsen, to introduce a new generation of patient monitoring.
The Stasis System is currently live in multiple hospitals in Bangalore, India. 'Stasis will be using the funds to continue expanding throughout Indian hospitals and prepare to enter the US and other markets worldwide,' said Maylahn. The patient monitoring market is rapidly growing as non-ICU monitoring is increasingly prioritized, bringing it to a projected $26.2B market size by 2022. 'Stasis has great potential, with clear and distinct value proposition for the world's biggest healthcare system, the US, and for the fastest growing healthcare economies, such as India and Southeast Asia,' said Adamian, who led the financing.