Belfast medical technology company Intelesens acquired by major US healthcare firm
A BELFAST life sciences company which was originally founded as a spin out from Ulster University, has been sold for an undisclosed sum to a New York-based healthcare giant.
Intelesens, which specialises in intelligent, wearable, non-invasive, wireless vital signs monitoring devices for both the hospital and home patient monitoring markets, has been acquired by UltraLinq Healthcare.
It is believed the acquisition will assist the US firm in progressing its strategy of providing a cost-effective digital health platform focused on the improvement of cardiovascular healthcare globally.
The Intelesens cloud-based ultrasound and image management platform provides physicians and technologists with the most effective workflow for evaluating, sharing and archiving imaging exams, such as X-rays and ultrasounds, and reports.
Stephen Farber, chief executive of UltraLinq Healthcare, said: “Intelesens has pioneered the development of proprietary world class algorithms for the detection of a range of cardiac arrhythmias from wireless sensors on the body.
"This technology, coupled with the team's incredible knowledge of the space, will allow us to make huge strides towards our end goal of providing cost-effective tools to improve the delivery of cardiovascular care globally."
He added: “Together, with our existing cloud-based image and data management platform, we are going to be able to solve an abundance of care delivery problems that have never truly been targeted with this kind of technology.”
Intelesens currently sells its products – including one which assists in streamlining the medical referral pathway resulting in clinical and economic benefits and another which facilitates the monitoring of respiration rate, ECG, heart rate, motion and skin temperature in hospital patients – to healthcare providers in the UK, Europe, Asia and North America.
Aidan Langan, chief executive of Intelesens (it will continue to operate under the existing company name) said: “We believe this deal represents a tremendous opportunity for the company and its future development, as well as for the medtech sector in Northern Ireland. We're excited about the ambitious plans the new owners have.”
Intelesens employs 39 staff at its Heron Road site, where manufactures a range of electrodes and devices.
The business, founded in 2001, has benefitted from support from both Invest NI and Ulster University (where it maintains a close academic–industrial collaboration through its world-renowned nanotechnology and integrated bioengineering centre).