Heartscape Technologies Announces Close of Series B Funding.

Scottish Equity Partners Leads $17 Million Investment in Heartscape to Fund U.S. Commercial Launch of PRIME ECG and Clinical Registry of Heart Attack Patients

COLUMBIA, Md. -- Leading UK venture capital firm Scottish Equity Partners (SEP) has led a $17 million investment in healthcare

The Heartscape device, PRIME ECG[R], which is designed primarily for use in hospital emergency departments, has already obtained FDA (Food and Drug Administration) approval in the United States. The device provides doctors with more detailed images and information on a patient's heart than traditional electrocardiograms (ECGs), helping save lives through early diagnosis.

Heartscape Technologies Chief Executive Officer Arthur Hiller said: "For heart attack victims rapid diagnosis can mean the difference between life and death and impacts a patient's long-term prognosis. A significant opportunity exists for PRIME ECG to benefit patients by improving the speed of diagnosis and hospital efficiency in managing high-risk cardiovascular patients."

Heartscape, which has its research and development and manufacturing base in Northern Ireland and its commercial team in the USA in Boston and Columbia, Maryland, will use the new funds for the commercial launch of PRIME ECG in the United States and for further clinical development.

SEP led second-round funding as part of an international investment syndicate which includes Investor Growth Capital of Sweden and existing investors Radius Ventures from New York and Delta Partners from Ireland.

Brian Kerr, Investment Director in SEP's Healthcare and Life Sciences team, said: "PRIME ECG represents the first major advance in non-invasive cardiovascular diagnostic devices for years. Clinical results have demonstrated its effectiveness as a front-line diagnostic tool and we believe it has the potential to become the standard of care in this field. It is precisely this sort of breakthrough and disruptive technology that builds value for investors and increases the standard of healthcare. We are pleased to add Heartscape to our portfolio of healthcare pioneers."

Brian Kerr and co-investor Dr Joachim Werr of Investor Growth Capital in Europe will join the board of Heartscape.