Wellinks has raised $10m to advance its remote patient monitoring (RPM) tool for chronic respiratory disease management.
The first close of the company’s Series B financing round was led by the University of Massachusetts’ Memorial Health (UMMH) and internal investors.
Wellinks’ lead product is the Spire RPM system. Originally developed by Spire Health, the wearable sensor won clearance from the US Food and Drug Administration (FDA) in 2020. The device monitors patient vitals, including breathing patterns and pulse rate, to detect early physiologic changes associated with clinical deterioration to support earlier intervention for chronic respiratory diseases. Wellinks inherited Spire RPM after acquiring Spire Health in September 2024.
Wellinks intends to use the Series B tranche to expand its commercial footprint, extend cardiopulmonary care to broader patient populations, and continue growing its real-world clinical data to enhance its overall care provision. The US-based company also intends to use a portion of the funding to expand Spire RPM into further cardiopulmonary conditions, including congestive heart failure (CHF).
Jennifer Barretta, Wellinks COO and interim CEO, commented: "This investment represents validation of the solution we've built and the outcomes it delivers."
UMMH’s investment builds on an existing partnership with Wellinks. In October 2022, the hospital’s affiliate school, UMass Chan, partnered with Wellinks on a study to assess the feasibility of app-based consumer technology and virtual disease management tools to support people living with chronic obstructive pulmonary disorder (COPD).
Following the study at UMass Chan, in August 2024, UMMH partnered with Wellinks to integrate its virtual pulmonary rehabilitation programme to support people living with COPD. Under a digital health collaboration, Wellinks provided physicians and care teams with additional tools to support protocols including virtual pulmonary rehabilitation, remote monitoring, and specialised nursing care.
Commenting on its investment, Dr Eric Dickson, CEO at UMMH, said: "Our continued collaboration with Wellinks reflects a shared commitment to advancing proactive, data-driven care. Together, we're generating real-world clinical evidence that supports better outcomes for patients and informs the future of cardiopulmonary care."
GlobalData analysis reveals that the global patient monitoring market is growing at a CAGR of 1.9% and is on course to reach a valuation of around $25.4bn in 2035.
