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Biodata Devices opens a round of one million to advance in telemedicine

Biodata Devices, a company specialized in the manufacture of technological medical devices, has just opened its first financing round, with the aim of raising the necessary funds to expand its business. The company, founded in Valladolid, hopes to open markets in Europe and Latin America, as well as develop new devices for telemedicine.

Suzanne Mitchell

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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.  

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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.

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(Featured image by Jair Lazaro via Unsplash)

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First published in PlantaDoce, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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Suzanne Mitchell juggles the busy life of a full-time mom and entrepreneur while also being a writer-at-large for several business publications. Her work mostly covers the financial sector, including traditional and alternative investing. She shares reports and analyses on the real estate, fintech and cryptocurrency markets. She also likes to write about the health and biotech industry, in particular its intersection with clean water and cannabis. It is one of her goals to always share things of interest to women who want to make their mark in the world.