Morgan Stanley Expansion Capital has led the $43m Series B funding round for Octagos Health, a provider of AI-driven cardiac device monitoring solutions.
The Series B funding round was led by funds managed by Morgan Stanley Expansion Capital, with continued participation from Mucker Capital and other strategic investors. It will help Octagos use AI to evolve cardiac care and provide patient monitoring services.
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“By combining AI, patient services, and bidirectional EHR integration, the Octagos Health platform enables cardiologists to efficiently monitor patients, improve patient care, and enhance clinic economics. The funding will help us accelerate our growth across the US and expand into other critical areas of cardiac care including ambulatory monitors, consumer wearables, and sleep. Our goal is to build a comprehensive AI-based clinical decision support engine for healthcare. We are thrilled to have Morgan Stanley Expansion Capital as our lead investor and the continued support of Mucker Capital. In a short period, we have grown from first servicing my cardiology clinic to becoming one of the largest Cardiac Remote Monitoring companies that provides software and services” said Dr. Shanti Bansal, cardiologist, CEO of Octagos Health and Houston Heart Rhythm.
“This investment will enable us to accelerate enhancements to our platform in addition to scaling our commercial team and operations. We are currently the only company to help cardiac clinics migrate their historical data from legacy software providers and fully integrate with any EHR system, while enabling customized reporting and patient and clinic operating analytics,” commented Eric Olsen, COO of Octagos Health.
“We are excited to partner with Octagos Health and support their vision of transforming cardiac care,” added Melissa Daniels, Managing Director of Morgan Stanley Expansion Capital. “Octagos Health has demonstrated exceptional growth and innovation in a critical area of healthcare. We believe their platform and vertically integrated software and services significantly improve patient care and streamline cardiac monitoring processes for healthcare providers.”
“Octagos Health is poised for scale – industry leading gross margins, very sticky product that doctors and clinical staff love, and a market ready for disruption with artificial intelligence. This is the new wave for diagnostic care,” noted Will Hsu, Co-Founder and Partner at Mucker Capital. “This funding will help Octagos Health continue to add additional data sources from various diagnostic and consumer devices and further differentiate their offering.”
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