Specialty finance firm Oxford Finance closed a $20 million senior secured term loan for AliveCor, a privately held company focused on using artificial intelligence to improve cardiac care.
The funds will provide additional working capital to support continued growth as well as research and development efforts.
“Heart disease is the leading cause of death in humans. AliveCor has developed low cost, hand-held and wrist-worn ECG technology capable of detecting, with clinical grade accuracy anytime and anywhere, the presence of atrial fibrillation in just 30 seconds,” said Christopher A. Herr, senior managing director at Oxford. “Oxford is excited to partner with AliveCor to help support their continued growth, innovation, and expansion into the rapid detection of other potentially fatal conditions affecting cardiac health.”
AliveCor’s KardiaMobile product, which instantly detects atrial fibrillation and normal sinus rhythm is the most clinically validated mobile ECG in the world.
