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