Medtech Alimetry secures $18M to enhance wearable devices for gut diseases

• Alimetry announced that it has completed an $18 million Series A funding round to support the development of a wearable device. This device aims to assist in the diagnosis of functional gastrointestinal disorders.
• This financing will be used for further product development and commercialization, as well as promoting its use in hospitals in the United States, the United Kingdom, and New Zealand.

What happened

New Zealand medical technology company Alimetry secures $18 million in funding to advance the development of wearable devices for gastrointestinal diseases. This non-invasive device captures intestinal electrical activity through a flexible electrode array attached to the patient’s abdomen. It uses cloud-based analytics and artificial intelligence to turn the data into clinical biomarkers. This helps doctors make more accurate diagnoses. The company’s wearable devices have been tested in more than 30 hospitals in the U.S., the UK, and New Zealand. They have also received four approvals from the U.S. Food and Drug Administration as diagnostic aids. Alimetry plans to use the new funds to grow its business. They hope to help more patients in the next few years.

In addition, Alimetry’s Series A2 funding round included investors like AGA Ventures, Icehouse Ventures, and Olympus Innovation Ventures. This shows that the market recognizes the company’s technological potential. As artificial intelligence and wearable technology advance in the medical field, Alimetry’s devices will likely bring significant changes to the diagnosis and treatment of gastrointestinal diseases.

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Why it is important

Alimetry has launched the wearable device Gastric Alimetry to aid in the diagnosis of gastrointestinal diseases. Its wearable device， Gastric Alimetry has received approval from the U.S. Food and Drug Administration (FDA). This development is very important for patients with gastrointestinal diseases. Traditional diagnosis often depends on invasive tests, like endoscopy. These examinations not only cause inconvenience to patients but may also carry certain risks. The launch of Gastric Alimetry offers a gentler, patient-friendly diagnostic method, promising to improve the patient experience and enhance diagnostic efficiency.

Alimetry’s success also reflects the rapid growth of the global wearable medical device market. With ongoing technological progress and growing market demand, this market’s rapid growth brings new chances for the healthcare industry. However, it also creates new challenges in areas like regulations, data security, and privacy protection.