New Female Founded, Canadian Health Venture Fund Invests In Disruptive Health Technology Designed To Improve Health Outcomes in Post-Surgical Patients
Vancouver, British Columbia – May 23rd, 2018 – Relentless Pursuit Partners announced their first investment by the Relentless Venture Fund (“RVF”) as Canary Medical Inc (“Canary”), a medical data company dedicated to improving healthcare outcomes by using proprietary, smart medical devices. Relentless’ investment was part of Canary’s first institutional financing, a tranched US$26M round with participation from the Global Health Science Fund and Bioscience Managers.
“Canary is the ideal first investment for our inaugural venture fund,” declared Brenda Irwin, General Partner of RVF and Co-Founder of Relentless Pursuit Partners. “Our mission with the Relentless Venture Fund is to invest in preventative and proactive health technology solutions that optimize health, activity and longevity. Canary’s platform delivers on all three of these mission based goals. Incorporating Canary’s sensor technology, and leveraging their robust data analytics, the benefit to patients’ health is poised to soar above existing orthopedic and wearable technology options.”
Market leaders in the wearable and fitness tracker markets have been forced to continuously innovate as consumers demand more than activity, sleep and heart rate tracking. Products are becoming increasingly feature rich, yet technology still requires user compliance and confidence around data to be used as a tool in partnership with healthcare practitioners.
“As a physician, medtech executive and marathon runner, I see the challenges and opportunities to leverage the increasing volume of data as part of a healthy aging strategy,” summarized Dr. Bill Hunter, CEO of Canary. “The promise of using data from wearable technology and fitness monitors options has yet to deliver. To inform medical decisions, we need accurate and continuous inputs versus episodic, inconsistent snapshots. The funding provided by our first institutional round will enable development of the ‘smart’ artificial knee implant among other options from our orthopedic platform that will facilitate long-term, active lifestyles.”
Dr Hunter shared that his active lifestyle had a role in influencing the direction for Canary.
“Running is integral to both my personal physical and mental wellbeing. I am energized at the thought of Canary’s potential impact on mobility. I am equally delighted to be taking on the responsibility of ensuring our aging population remains mobile – and that we have optimal information for every patient to deliver on that goal.”
Brenda Irwin summarized RVF’s first investment with the following, ‘having the opportunity to work with a high caliber, experienced team led by Bill was the opener. Realizing the depth of values alignment was the closer.”
About Canary Medical Inc.
Canary Medical was conceived and created by a team of surgeons, medical device developers, and IoT experts with the vision that (1) healthcare transformation requires better and cheaper healthcare data, (2) better monitoring and better data will produce better outcomes at lower costs, and (3) that patients own their healthcare data and should be compensated for its use. Canary Medical’s patented implant and data management ecosystem technology provides the vehicle to implement its vision. Canary is led by Bill Hunter, MD, a seasoned entrepreneur with previous experience founding and leading a successful medical device company based on breakthrough technology (Angiotech, which developed the TAXUSÒ Drug-coated coronary stent implanted in millions of patients worldwide). Canary’s team is globally regarded for its medical device design and development expertise. For more information, visit http://canarymedical.com/
The “Canary Health Implantable Reporting Processor” (CHIRP) uses innovative sensor and novel communication technology. The CHIRP is Canary’s Medical Inc’s core technology and is incorporated into medical devices to enable remote patient monitoring. “Smart” medical devices will self-report on everything from patient activity to healing progress end even treatment failure without the need for physician intervention or a dependence upon patient compliance.