The funding will enable the company to scale and commercialise its cloud-linked device, which allows medical professionals to remotely monitor key patient indicators such as heart rate, respiratory rate, and oxygen saturation.
RDS, a French medical technology firm, has raised €14m in a Series A funding round from public and private backers to help develop its device for remote monitoring of patients’ key physiological indicators.
The round was led by the SPI fund, which is managed by public investment bank Bpifrance on behalf of the French state. French venture capital firm Critical Path Ventures was a first-time investor in RDS in this round. Previous investors, including French healthcare professionals insurer MACSF and regional investment capital company Capital Grand Est, also contributed.
This Series A round follows on from the provision of another €14m in capital and non-dilutive financing from the government, the Grand-Est regional authority and the European Union since the company was founded in 2020. The government contribution has included support via its France 2030 investment plan, which seeks to help build up key national economic sectors through technological innovation.
RDS’ MultiSense solution comprises a wearable patch with a cloud-based platform and support services. This allows medical professionals to continuous accurate remote monitoring of six key physiological indicators of a patient, including heart rate, respiratory rate and oxygen saturation.
The technology has already been used by 15 hospitals across France, Belgium and Germany, though not yet on a commercial basis.
The patch’s backers believe the ability to use the technology at home, as well as in hospitals, makes it a potentially attractive investment, as health services around the world seek to alleviate pressure on hospital capacity by reducing patients’ hospital stay duration.
RDS said the global market for vital signs monitoring is forecast to reach an estimated $15bn (€13bn) this year and is set to grow by an average 15% a year until 2030, citing data from Mordor Intelligence.
Jacques Marescaux, a professor of surgery and RDS scientific board member, said studies have shown the benefits of keeping hospital stays short not just for the hospitals but also for patients, even after major surgery.
“The MultiSense patch offers an ideal solution: faster patient discharge and a more effective monitoring of vital signs than in hospital, with considerable medical and economic benefits expected. This is a major challenge for the sustainability of our healthcare system,” he said.
Reusable design
Strasbourg-based RDS plans to use the latest funding to accelerate the development of MultiSense in France, Germany and other European markets by expanding its sales team and scaling up production and refurbishing capacities. The equipment has been designed to be cleaned, refurbished and reused to help reduce its carbon footprint.
Magali Joëssel, director of the SPI fund at Bpifrance, said the funding gives RDS the means to become a leading player in post-operative remote monitoring.
“By scaling the manufacturing of its solution, RDS fully embodies the principle of the SPI fund: funding the industrialization of innovative technologies that will bring growth and jobs to France,” she said. RDS plans to launch further clinical trials in Europe to help promote the move to income generation, and the company is also targeting a US launch in 2028.
