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Smartphone heart monitor gets venture capital funding

An investor syndicate has provided $3 million in funding to Oklahoma City's AliveCor Inc., which has developed a device that will turn any smartphone into a clinical-quality heart monitor.
by Don Mecoy Published: August 28, 2011
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Albert praised the quality of the investment syndicate, which includes the Oklahoma Life Sciences Fund, Qualcomm Venture, and Burrill & Co., “a biotech and health care investment leader.”

“Qualcomm is the preeminent provider of chipsets for advanced wireless services and has been a pioneer in driving the adoption of Wireless Healthcare,” Albert said.

“The Oklahoma Life Sciences Fund brings local expertise and a long-standing personal relationship with my ventures,” he said.

Working since 2005

AliveCor's Australian co-founders, Bruce Satchwell and Kim Barnett, have been working on wireless electrocardiogram technology since 2005, before the launch of the iPhone. The Greater Oklahoma City Chamber originally helped bring the business to Oklahoma City in 2008.

“We're thrilled to be a small part of this exciting news,” said Roy Williams, the chamber's president and CEO.

“The Greater Oklahoma City Chamber remains committed to supporting entrepreneurs like Dr. Albert and building our bioscience industry in our region.”

Tom Walker, president and CEO of Oklahoma City-based i2E Inc., said the investment could mark a turning point for the local company.

“With the backing of these investors, I'm hopeful the AliveCor ECG will soon be making a difference for heart patients around the world,” Walker said.

by Don Mecoy
Business Editor
Business Editor Don Mecoy has covered business news for more than a decade after earlier working on The Oklahoman's city, state and metro news desks, including a stint as city editor. He has won state and regional journalism awards for business,...
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Online

To see a demonstration of the AliveCor device, go to alivecor.com/video.htm.

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