HD Medical Secures Strategic Investment from Maxim Ventures
February 04, 2016 08:44 AM Eastern Standard Time
SUNNYVALE, Calif.--(BUSINESS WIRE)--Sunnyvale-based HD Medical Inc. and Maxim Integrated Products, Inc. of San Jose today announced that Maxim has made an $800,000 strategic investment in HD Medical, in the form of a convertible promissory note intended to convert into HD Medical's next preferred equity round of financing. The majority of Maxim's investment will be dedicated to HD Medical's new product development of its visual stethoscope technology utilizing a low power Maxim chipset for the advancement of digital health.
HD MEDICAL SECURES STRATEGIC INVESTMENT FROM MAXIM VENTURES in the form of a $800,000 convertible promissory note
HD Medical develops the ViScope® visual stethoscope product family. These unique visual stethoscopes provide "dynamic auscultation™", the ability to see what one hears for a more accurate diagnosis. ViScope's integrated visual display shows heart waveforms in real-time, making it a perfect device for patient screening, teaching, home health, telemedicine and other digital health applications.
In this medical application, Maxim is leveraging its sensor and ultra-low-power integrated circuit technologies. Through Maxim Ventures, the company applies its product portfolio and system knowledge to build companies that extend up the data-flow value chain into equipment, systems, software, and services.
"We are excited by the growth and vision we've seen from HD Medical's team," said Mr. Shailendra Mahajan, Managing Director of Maxim Ventures. "We believe that the product roadmap directly corresponds with the healthcare professional's needs and also opens up opportunities in tele-medicine and home healthcare markets. Our goal is to ensure both our companies significantly contribute to the advancement of digital health," said Mr. Chris Neil, SVP of Maxim and Head of Maxim Ventures.
"With Maxim's impressive investor confidence, HD Medical is well poised for future growth and investment," stated Mr. Arvind Thiagarajan, Founder & CEO of HD Medical, Inc. "This agreement will accelerate as well as enhance our new product development and position us to ramp our revenues."
About Maxim Ventures
Maxim Ventures, the venture arm of Maxim Integrated Products, Inc. ("Maxim"), invests in new businesses that are "beyond the chip." We leverage Maxim's enabling sensor and integrated circuit technologies and use that know-how as the basis to build companies that extend up the data-flow value chain into equipment, systems, software and services. Visit us at http://www.maximventures.com.
About HD Medical, Inc.
HD Medical, Inc. is a medical device innovator based in California, USA with Offices in Sydney, Australia and Research Labs in Chennai, India. Since 2005 the company has designed and developed medical products for use in screening and early detection of cardiac conditions. The company markets its innovations to medical professionals, large medical institutions and channel partners through operations in the USA and Asia Pacific. HD Medical's patented technologies and products offer a paradigm shift in clinical diagnostics. Coming from a tradition of helping to promote personal and community health, through exceptional healthcare diagnostic products and solutions, HD Medical, Inc. is committed to delivering "Higher Dimensions in Digital Health".
Learn more at www.hdmedicalgroup.com.
Note to editors: ViScope is a registered trademark and Dynamic Auscultation is a trademark of HD Medical, Inc. All other company, organization, product or alliance names mentioned herein remain the property of their respective owners.
HD Medical, Inc.
Kristi Furrer, 303-525-0924
Maxim Integrated Products, Inc.
Ferda Millan, 408-601-5429