VitalConnect closed a term loan facility of $17.5 million with Perceptive Advisors, of which $10 million was funded at initial closing. Armentum Partners acted as financial advisor to VitalConnect in conjunction with the financing.

The company also extended its series B round to raise an additional $7.8 million of equity capital taking the total raised to date in the series B round to $22.1 million. This combined funding will propel VitalConnect’s commercialization of the HealthPatchMD and VitalPatch biosensors for patient monitoring in hospitals and at home.

“Virtual patient monitoring with wearable biosensors is evolving into an important method of care delivery for hospitals and doctors,” said Dr. Nersi Nazari, VitalConnect chairman and CEO. “These additional financings confirm that biosensors are the foundation for improving patient care and the speed of medical response that will lead to better outcomes for future patients.”

VitalConnect develops wearable biosensor technology for wireless hospital and remote patient monitoring.

Perceptive Advisors is focused on supporting the progress of the life sciences industry by identifying opportunities and directing financial resources to the most promising technologies.