Sibel Health, a Chicago-based medical technology company, announced today the successful closure of a $30 million Series C financing round alongside receiving its seventh FDA 510(k) clearance for its ANNE® One monitoring platform. The funding round was led by existing investors, with the Steele Foundation for Hope and Dräger demonstrating continued confidence in the company's growth trajectory.
The financing comes at a strategic time as Sibel Health expands its commercial footprint in the medical monitoring sector. The Steele Foundation for Hope, which previously led Sibel's Series B round, contributed an additional $20 million to this latest funding. Dräger, an international leader in medical and safety technology that led Sibel's Series A round, invested an additional $10 million.
"Given the very challenging financing environment, we are ecstatic to see our existing investors fund our entire round given their confidence in our product roadmap and growth trajectory," said Steve Xu MD, cofounder and CEO of Sibel Health.
Advanced Monitoring Technology with Interoperability Focus
The ANNE® One platform utilizes advanced clinical-grade wearable sensors to provide wireless monitoring of all vital signs for patients 12 years and older. The company's newest FDA 510(k) clearance enables critical functionality including alarms, alerts, and a comprehensive central station monitoring capability.
A significant aspect of this regulatory achievement is the platform's compliance with the IEEE SDC 11073 standard, making it one of the first medical devices to receive FDA clearance under this interoperability framework. The standard supports open and secure communication between medical devices, replacing traditional proprietary networks.
"We are especially proud of the fact that our sensors are FDA-cleared under the IEEE SDC 11073 standard," noted Jong Yoon Lee, CTO and cofounder of Sibel Health. "Interoperability is the future and our hospital partners are increasingly demanding it."
This focus on interoperability represents a significant advancement in medical device connectivity, potentially enabling more comprehensive patient monitoring and earlier detection of deterioration.
"Without interoperability of medical devices, particularly vital signs monitors like ours, we cannot capture the broader care context and realize the full potential of AI to detect patient deterioration earlier," added Dr. Xu.
Strategic Partnerships and Clinical Implementation
Sibel Health's technology has gained traction with major healthcare institutions and funding organizations. In early 2024, the company received a $17.5 million grant from the Gates Foundation. Later that year, Sibel Health, in partnership with Dräger Denmark, was selected by the Capital Region of Denmark to provide continuous wireless monitoring across multiple Copenhagen area hospitals.
In a notable development for the U.S. market, Northwestern Medicine has acquired ANNE® One systems to evaluate potential improvements to nursing workflow and patient sleep quality using wireless sensors. This implementation is particularly significant as Sibel Health originated as a spinout from Northwestern University.
Toni Schrofner, Chief Officer Medical Division at Dräger and Sibel board member, emphasized the strategic importance of the partnership: "We are pleased to further strengthen the cooperation between Dräger and Sibel through this investment. The possibility to integrate wireless, wearable sensors into the digital acute care ecosystem via the new connectivity standard ISO/IEEE 11073 SDC is an important milestone towards the future of patient monitoring along the entire patient care journey."
Market Positioning and Future Outlook
The new funding and regulatory clearance position Sibel Health to accelerate commercial deployment of its monitoring platform in both hospital and home settings. The company's technology addresses growing demands for wireless, less intrusive patient monitoring solutions that can improve both clinical outcomes and patient experience.
With its dual headquarters in Chicago and an international office in Seoul, South Korea, Sibel Health is expanding its global footprint in the medical monitoring market. Beyond acute care monitoring, the company also offers digital health technologies for pharmaceutical and clinical research applications.
The investment comes at a time when healthcare systems worldwide are seeking solutions that can enhance patient monitoring while optimizing clinical workflows and improving interoperability between medical devices and healthcare information systems.
