Watermark Medical Inc, a privately held medical products and services company currently servicing the sleep-disordered breathing market, completed a $15 million equity investment from CA Technologies.
According to a company statement, Watermark Medical already has seen success with its premiere product offering, the Watermark ARES device, a home testing device. The new equity investment in Watermark Medical represents CA Technologies’ entry into the emerging Software-as-a-Service (SaaS)-based health care cloud market.
"This investment provides a significant opportunity for CA Technologies to participate in the future of the management of medical data,” said Jacob Lamm, executive VP of strategy and corporate development at CA Technologies. “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."
According to Sean Heyniger, CEO of Watermark Medical, "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."
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