17 March 2017
GE Healthcare adopts Monica
Nottingham spinout Monica Healthcare, which has developed monitoring technology for expectant mothers and their babies, has been acquired by GE Healthcare.
Author: Thierry Heles, editor
US-based pharmaceutical company GE Healthcare has acquired Monica Healthcare, a medical device spinout of Nottingham University, for an undisclosed sum.
Monica Healthcare, launched in 2004, has created wearable, wireless foetal health monitoring devices that enable improved care before and during birth. Its Novii Wireless Patch System, for example, monitors maternal and foetal heart rate as well as uterine activity.
The technology is based on joint research conducted by the School of Electrical and Electronic Engineering and the School of Human Development at Nottingham.
Monica Healthcare will form a part of GE Healthcare’s Maternal-Infant Care business.
The launch of Novii was supported in March 2016 with a £900,000 ($1.1m) investment provided by undisclosed backers.
Previously, Monica Healthcare received £2m in 2015 from Nottingham University, Catapult Ventures, New Hill Growth Fund, East Midlands Business Angels, Wren Capital, Origin Capital, Catamaran Ventures, and London Business Angels.
Monica also obtained £250,000 from the Nottingham Technology Grant Fund, administered by Nottingham City Council, at the same time.
Remaining backers include PUK Ventures and the Lachesis Fund.
Tammy Noll, general manager of GE Healthcare’s Maternal-Infant Care division, said: “At GE Healthcare, we are committed to improving the health care experience across care areas, including childbirth.
“Through this acquisition, we will combine the incredible expertise and mobile-digital innovation from the Monica team with GE Healthcare’s longstanding industry leadership and customer focus – all with the goal of bettering maternal and infant care for patients worldwide.”
Carl Barratt, chief executive of Monica Healthcare, said: “Joining GE Healthcare provides a fantastic opportunity to bring together Monica’s digital offerings with GE Healthcare’s global infrastructure to provide even stronger capabilities and solutions to customers around the world.”
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