Chennai-based LifeSigns raises funds in Pre-Series A round
IMT News Desk
The funding will help to expand operations and provide better patient care through continuous patient monitoring systemLifeSigns iMS (a brand by LS Devices), a Chennai-based health-tech startup that is developing a digital wireless patient monitoring solution platform for ambulatory, inpatient, and home care settings, has raised an undisclosed amount in a pre-Series A funding round.The round witnessed participation from investors, including Dr SP Ganesan, a well-known pathologist from Chennai with 40+ years of experience. The funds raised will be used to accelerate the iMS platform and for India-wide expansion.LifeSigns provides technological solutions for patient monitoring in hospitals, at home and in ambulances. LifeSigns brings high-quality, clinical-grade patient vital data continuously to healthcare professionals anywhere anytime at a reasonable cost. “We have been assisting hospitals to become smarter, more technologically advanced, with leaner infrastructure and at lower costs. As we continue to develop technologies that help in improving clinical outcomes, lesser code blues/oranges, better patient safety, and drive positive change in the healthcare segment. We remain committed to innovation and excellence. The new fund entering the system will allow us to work more on technology and Human Resources to enhance the user experience, bring more efficiency in clinical data delivery, lower infrastructure spend, bring down the cost of healthcare benefitting the patient and providers,” says Hari Subramaniam, Founder & Director, LS Devices. “We are bringing “home to home” patient care that enables monitoring of patients from home to hospital to back home dynamic wireless technology's robust alert mechanism, continuous real-time monitoring and ambulatory monitoring which will enable early detection, timely treatment and early discharge," added Subramaniam.LifeSigns has collaborated with private and public government hospitals across India, currently in 48+ hospitals, managing close to 5100+ beds deployed on 28000+ patients including the largest private hospital chain and largest public hospital to help them to deliver better cost-efficient patient care with the most modern technology."The global medical and wellness industry is a $1.5 trillion market growing steadily at 5-10 per cent annually, with the Indian market contributing to it at an exponentially increasing rate. Our investment in LS Devices reflects our confidence that Remote Patient Monitoring Technology is now accessible to all, and improving patient care is our top priority. LifeSigns' rapid growth rate over the last 12 months in recognition and expansion from in-hospital care to home care and ambulance monitoring is the first step towards improving patient safety and outcomes. With the government enacting new policies and laying out a road map for health tech firms, we are assured that this association will bear fruit for the masses," added Dr Ganesan.
