BELFAST MEDICAL TECHNOLOGY COMPANY ACQUIRED BY MAJOR US HEALTHCARE FIRM
03 August 2017
Belfast-based Intelesens Ltd. has been acquired by UltraLinq Healthcare, the Connected Health Platform of Renew Health Limited.
The acquisition of Intelesens, which specialises in intelligent, wearable, non-invasive, wireless vital signs monitoring devices for both the hospital and home patient monitoring markets, will assist UltraLinq in progressing its strategy of providing a cost-effective digital health platform focused on the improvement of cardiovascular healthcare globally.
The cloud-based ultrasound and image management platform provides physicians, technologists and admins with the most effective workflow for evaluating, sharing and archiving imaging exams, such as X-Rays and Ultrasounds, and reports.
Stephen Farber, CEO of New York-based 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.
“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 – Zensor, which assists in streamlining the medical referral pathway resulting in clinical and economic benefits, and Aingeal, which facilitates the monitoring of respiration rate, ECG, heart rate, motion and skin temperature in hospital patients – to healthcare providers in the UK, EMEA, ASEAN and North America.
Aidan Langan, CEO of Intelesens which was originally founded as a spin out of the Ulster University in 2001 and will continue to operate under the existing company name, said:
“The Board of Intelesens believes that the deal with Ultralinq represents a tremendous opportunity for the company and its future development, as well as for the MedTech sector in Northern Ireland more generally.
“The acquisition has presented a great outcome for our shareholders and our staff are very excited about the ambitious plans.”
Intelesens currently employs a team of 39 who will remain at its Heron Road site where the company manufactures a range of electrodes and devices. In 2011, the company won the prestigious Silicon Valley ‘Most Promising Technology Award’ for its technology.
Jasmine Gardiner, COO of UltraLinq, which is keen to continue significant corporate growth in the Belfast area, said:
“Northern Ireland, specifically Belfast, has an amazing talent pool that we are excited to tap into.
“When you combine that level of engineering quality and skill, with the technology support that Intelesens has enjoyed from Ulster University and a supportive development agency like Invest NI, Belfast becomes an obvious choice for continued corporate development.”
Deirdre Francis, CFO of Intelesens said:
“We are very grateful to Invest NI and the Ulster University for their continued support throughout the development of the Intelesens business.
“In particular the strong relationship with our Client Executives and their faith in the products we have developed, have had a meaningful and direct impact on our success.”
Intelesens maintains a strong and close academic–industrial collaboration with the Ulster University Nanotechnology and Integrated Bioengineering Centre (“NIBEC”), an internationally recognized world-class research facility.
For more information or to request an interview, please contact: Alyson English, Lighthouse Communications on 0774 0513 547 or Alyson@lighthouseni.com