PaceMate gains a key investor in its heart monitoring technology

Michael Walter | July 25, 2023 | Cardiovascular Business | Economics

money business cash flow dollar. Kingsway Financial Services, a Chicago-based holding company with subsidiaries in several industries, has acquired New Jersey-based Digital Diagnostics Imaging (DDI) for $11 million. The transaction was funded with $5.4 million in cash and $5.6 million in debt financing.

PaceMate, the Florida-based healthcare technology company focused on remote cardiac monitoring, has received a new “strategic growth investment” from Lead Edge Capital, a well-known tech investor that has previously worked with such groups as Spotify, Duo Security and Toast.

PaceMate is primarily known as the company behind the PaceMateLive vendor-neutral data management platform, which remotely monitors data from implanted cardiac devices, heart failure devices, wearable devices, ambulatory event monitors and consumer ECG devices. The platform can be integrated into all electronic health records and uses advanced artificial intelligence algorithms to identify urgent patient reports and other heart rhythm issues.

“Lead Edge Capital's investment propels our strategic vision and growth trajectory, allowing us to rapidly scale our presence, expand our product portfolio, and deliver flexible solutions to more healthcare institutions,” Tripp Higgins, CEO and co-founder of PaceMate, said in a prepared statement. “As the pioneer in cardiac remote monitoring, we are elevating cardiac digital healthcare with data-rich and interoperable environments, integrating essential patient data in real-time to enhance efficiency and patient outcomes.”

“PaceMate delivers a powerful set of solutions focused on improving patient care and outcomes within the cardiac disease segment,” added Brian Neider, a partner with Lead Edge Capital. “Over the past several years, the company has worked tirelessly to deliver superior technology, service, and a level of care which has been unparalleled within the market. We are thrilled to partner with Tripp and the team on PaceMate’s next phase of growth.”

Financial terms of the investment have not been made available at this time.

Click here for more coverage of PaceMate’s cardiac remote monitoring technology.

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Michael Walter, Managing Editor

Michael has more than 18 years of experience as a professional writer and editor. He has written at length about cardiology, radiology, artificial intelligence and other key healthcare topics.

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