A Fife start-up is to scale its patient monitoring technology following a £2 million investment.
Dunfermline-based Waire Health has received the seven-figure sum from St Andrews-based Eos Advisory and Scottish Enterprise.
The funding will see the company grow its management team, production, and product development capabilities.
It will also allow Waire Health to accelerate its expansion in global markets, including America.
Waire Health’s ‘vital signs monitor’
The firm describes its remote patient monitoring device, C-Detect, as a “wearable vital signs monitor for everyone”.
It continuously searches for patterns in the vitals that indicate conditions, such as Sepsis, could be developing.
The device also offers clinicians suggestions on how they might best treat the condition.
It is designed at the firm’s base in Dunfermline.
The company sells platform agnostic sensors primarily to healthcare technology platform providers, who in turn sell into hospitals and other healthcare organisations.
Waire Health founder and chief executive Dave Hurhangee said: “The whole area of care at home got pushed over the edge during Covid.
“What many companies didn’t fully appreciate was the paramount importance of usability.
“If devices have to rely on mobile connections or Bluetooth, they become difficult to use.
“We bring design and detail from years of experience of working with the technology, and our devices fall back to cellular if wi-fi falls off.
“We think we have the best-in-class offering in the industry. That’s being evidenced by the success we’re having in the market.”
Mr Hurhangee began developing wearable technology for radiation monitoring on nuclear submarines based at Rosyth in the 1980s.
He added: “If you can operate a monitoring device from a submarine, that gives you a strong foundation to build for applications across multiple sectors and environments.
“We’re now branching out into sectors outside healthcare, so that will be part of our next phase of growth.”
Waire Health is alrunning a pilot study in partnership with the Irish Government and Indian conglomerate The Tata Group.
‘Huge opportunity’ for Waire Health
Cyclist Mark Beaumont is one of the partners at Eos Advisory.
He said: “As healthcare systems in the UK and around the world move to remote monitoring and real time patient data, we see a huge opportunity for Waire Health to scale its C-Detect device.
“Eos is focused on finding, backing, and scaling the best science and technology in Scotland that improves quality of life. Waire is a brilliant example of that.”
Director of entrepreneurship and investment at Scottish Enterprise Kerry Sharp said: “The health tech sector is vital to the future success of Scotland’s economy.
“Waire Health is a fantastic example of a company that is showing true innovation in the field. We are proud to invest and be part of their continued growth.”
Conversation