LifeSigns, Secures Undisclosed Amount in Pre-Series A Funding
- ByStartupStory | March 14, 2023
LS Devices Pvt. Ltd., a health-tech startup based in Chennai, has secured an undisclosed amount of funding in a pre-Series A round for its LifeSigns iMS brand. The company is focused on developing a wireless patient monitoring solution platform for ambulatory, inpatient, and home care settings.
LifeSigns iMS, a health-tech startup from Chennai, has raised funds from investors, including Dr. SP Ganesan, an experienced Pathologist from Chennai. The company intends to use the undisclosed sum to expedite the iMS platform’s development and expand its reach across India. LifeSigns specializes in offering technological solutions for patient monitoring in hospitals, ambulances, and at home. The company provides continuous clinical-grade patient vital data to healthcare professionals, anytime and anywhere, at an affordable price.
LifeSigns has entered into a partnership with Amala Hospital, a prominent chain of multi-disciplinary hospitals based in Kerala, to introduce an innovative smart ward equipped with LifeSigns’ wearable wireless technology. The health-tech startup has also collaborated with over 48 private and public government hospitals across India, managing more than 5100 beds and caring for over 28000 patients. Its clientele includes the largest private hospital chain and the largest public hospital in the country, allowing them to deliver high-quality and cost-efficient patient care using the latest technology.
LS Devices Pvt Ltd.’s recent funding reflects a growing trend of increasing investment in the medical and wellness industry, which is valued at $1.5 trillion and is growing at an annual rate of 5-10%. The Indian market is making a significant contribution to this growth, and LS Devices Pvt Ltd.’s innovative remote patient monitoring technology is well-positioned to capitalize on this trend.
Dr. SP Ganesan, a prominent Chennai-based Pathologist with over 40 years of experience, emphasized that patient care is a top priority, and with technology becoming more accessible, there is an opportunity to improve healthcare outcomes. The rapid growth of LifeSigns in the past year is a testament to this, and their expansion into home care and ambulance monitoring is a significant step in this direction. Additionally, the recent policy changes and roadmap for healthtech firms laid out by the government provide assurance that partnerships such as this will benefit the masses.
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