The Spanish company Biodata Devices, specialized in the development and manufacture of technological medical devices, has opened a financing round of $1.19 million (€1 million) to initiate its commercial expansion in Spain, in other countries of Europe and in Latin America, according to David Astruga, director of technology and co-founder of the company.
This is the first round that the company has opened after having financed itself with its own resources, having turned to family and friends, and having achieved some funds from Enisa. The company, which was founded in 2014 in Valladolid, is dedicated to the design, development, manufacture, and marketing of low-cost professional medical devices. Its products, lifehub pro, and lifehub home are specially designed to be integrated into any telemedicine and remote patient monitoring scenario.
After five years from its foundation, Biodata Services has obtained the patent in Spain of its designs, as well as the homologation as medical products Class IIa with CE marking for all Europe. Astruga stated that currently the company already manufactures products that are present in the market. Also, in the last nine months, forty commercial agreements have been established and the first devices have been sold, winning tenders in Spain and even with sales in Portugal.
If you want to find more details about the biotech sector in Spain and how companies like Biodata Services are trying to develop their products by opening financing rounds, download for free our companion app. The Born2Invest mobile app brings you the most important business news in the world so you can stay on top of the market.
Biodata Services already commercializes its products in Spain and Portugal
In addition to using the economic resources to expand its commercial network, Biodata Services trusts in “strengthening the company by incorporating new talents, fully assuming all the manufacturing processes and continuing to develop new devices and innovative medical technologies,” said the company.
The first of the products that the company has, Lifehub home, is a multiparametric monitor of vital signs indicated to be used in domestic environments, in scenarios like the follow-up of complex pluripathological chronicles or of hospitalization at home. The other, Lifehub pro, is the version indicated for professional environments.
Both medical devices provide continuous or on-demand monitoring of vital signs, in a modular configuration and simultaneously, depending on the patient’s pathology. The devices are always integrated into the health care organization’s hospital information system (recognized by HIS). The equipment includes fully integrated temperature, breathing, heart rate, pacemaker, blood pressure, and blood oxygen saturation monitoring.
The business model of Biodata Services is B2B (business to business). “The direct sale of our monitors provides us with a high net margin, since we are the manufacturers of the product ourselves,” said the company’s director, who added that this high margin “allows us to give the client the option of pay-per-use if the project is of a certain importance.”
In addition to David Astruga, the company has four other partners. Daniel Peláez is responsible for management; Marian Garuz is in charge of developing the software interface of the medical devices; Jesús Arias supervises the production processes, while Javier Achirica is the data analyst.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in PlantaDoce, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
PagaPhone Seeks to Facilitate Remittance Collection and Boost Financial Inclusion in Mexico
PagaPhone, which already has pre-authorization from the National Banking and Securities Commission to operate as an electronic payment fund institution,...
Rovi Shoots Up 72% its Profit in the First Half of 2021
The Spanish pharmaceutical company Rovi achieved a net profit of $60.3 million (€51 million) from January to June, compared to...
Four Million Round for the Italian Real Estate Crowdfunding Portal Walliance
The Italian real estate equity crowdfunding portal Walliance has closed a $4.73 million (€4 million) round. This is the third...
What Artificial Intelligence Means for Us Today?
Advantage of AI counts the smarter artificial intelligence which promises to replace human jobs, freeing people for other pursuits by...
Credit Suisse: Major Bank Admits Gold and Gold Mining Stocks are Undervalued
Precious metal investments like gold are often overlooked in exchange for more ‘exciting’ opportunities. As a result, they are frequently...
Crowdfunding7 days ago
Trusters’s Real Estate Crowdfunding Fund Raised €7.3 Million in Six Months
Crypto7 days ago
Elon Musk Said Tesla Will Accept Bitcoin Again
Featured7 days ago
How Rating Discrepancies Undermine ESG
Biotech7 days ago
UrbanFisio Launches Virtual Assistant to Surpass €1 Million by 2021