Watermark Medical, a provider of sleep-disordered breathing products market, has completed a $15m equity investment from CA Technologies. The equity investment in Watermark Medical represents CA Technologies’ entry into the emerging Software-as-a-Service (SaaS)-based healthcare cloud market.
As part of the investment, CA Technologies will hold a minority stake in Watermark Medical and two seats on Watermark’s board of directors.
Watermark Medical’s current technology enables medical practitioners to easily manage, aggregate and access critical diagnostic and historical patient information.
Watermark Medical claimed that its Apnea Risk Evaluation System (ARES) is the first FDA-cleared, CMS approved, in-home, wire-free, ambulatory sleep test device that provides medical practitioners with a tool to diagnose patients who may be suffering from Obstructive Sleep Apnea (OSA). The comprehensive diagnostic system is already transforming the diagnostic treatment and care of OSA with its end-to-end, diagnostic-to-therapy platform service.
Sean Heyniger, CEO of Watermark Medical, said: “CA Technologies is an expert in managing data in virtual and cloud environments, and this investment will further the development of our advanced, web-based technology platform.
“As Watermark’s technology expands and is increasingly incorporated into the day-to-day functions of the medical community, benefits will include: a decrease in costs to the physician and patients; ability for patients to gain access to potentially lifesaving diagnostic tests; shifting the cost burden from expensive hospital and specialist-based testing to the PCP; and increasing accuracy in tracking the long term health and wellness of patients.”
Jacob Lamm, executive vice president of strategy and corporate development at CA Technologies, said: “We’re excited about working with Watermark Medical to develop innovative solutions for cloud-connected healthcare. The investment provides a significant opportunity for CA Technologies to participate in the future of the management of medical data.
“With Watermark, we will be working with a company that can take our technology and immediately apply it toward helping improve the quality of care physicians can provide for their patients.”