SINGAPORE and SYDNEY and NEW YORK, April 28, 2022 /PRNewswire/ - HealthBeats®, a Singapore-based healthtech start-up with end-to-end remote vitals monitoring solution, today announced the close of a US$3m Seed round led by healthcare investor Heritas Capital together with SEEDS Capital, the investment arm of government agency Enterprise Singapore.
According to a large-scale Commonwealth Scientific and Industrial Research Organisation (CSIRO) telehealth study funded by the Australian government, remote monitoring of chronic diseases has the potential to save up to A$3 billion a year through reduction of avoidable admission by 53.2% and reduction in rate of length of stay by 75.7%. Australian healthcare providers have also demonstrated positive clinical outcomes from the deployment of HealthBeats Remote Vitals Monitoring solution with some of them reporting reductions in avoidable hospital admissions by up to 50%. The HealthBeats platform has also defied common belief that elderly chronic patients are less technological savvy with the largest pool of patients being aged 61 and above, with those aged 81 and above achieving the highest adherence even after 6 months.
HealthBeats® has deployed its Remote Vitals Monitoring solution to 30 hospitals and clinics across Australia, working with various Primary Health Networks (PHNs) and Local Health Districts (LHDs) supporting various use cases such as chronic disease management, post-hospitalisation, emergency response for Covid-19 and clinical trials.
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