HeartHero closed its oversubscribed Series A funding round to further develop a device to save thousands of lives. Through Elliot, the company’s “industry disruptive” automated external defibrillator (AED), HeartHero is aiming to give everyday people the power to save the life of someone who’s experiencing a sudden cardiac arrest.
Unlike a heart attack, which occurs when the flow of blood to the heart is blocked, sudden cardiac arrests involve an unexpected electrical malfunction in the heart, resulting in arrhythmias that cause the heart to stop beating. Although cardiac arrests are the leading cause of death in the United States, they can be reversible in most people if treated within a few minutes; the chance of survival decreases seven to ten percent for every minute that a victim is experiencing this life-threatening condition.
After suffering a cardiac arrest, an AED can be used to restore the heart to its normal rhythm, saving the victim’s life. The device accomplishes this by analysing the victim’s heart rhythm and delivering an electrical shock to the heart, when necessary. However, AEDs are not usually available in homes. These machines are often found in public buildings such as offices, schools, supermarkets, shopping malls, and airports, and they usually require a prescription to be used at home. However, sudden cardiac arrests often occur at people’s homes.
When launched into the market, Elliot will serve as a portable, relatively inexpensive version of these lifesaving devices.
“HeartHero’s oversubscription is a sign of the shared passion of our company and investors,” Gary Montague, the founder and CEO of HeartHero, said in a statement. “Elliot is the first-of-its-kind life-saving device, which will revolutionise AEDs and how the world approaches Sudden Cardiac Arrest (SCA). Our goal has always been to bring an affordable device to market, with a mission of life before profits.”
As ordinary people are present at the scene of the sudden cardiac arrest, they are in a better position to act and directly save someone’s life than a doctor, as demonstrated in HeartHero’s “I’m Not a Doctor” video.
“This video concept came to me one morning as I contemplated how do we empower the masses to address Sudden Cardiac Arrest,” Gary proclaimed on the company’s homepage. “It seems so simple to act, yet so many people are left helpless and without an AED when SCA strikes! You Can Save A Life.”
Elliot won the Most Innovative Medical Device award at the American College of Emergency Physicians in 2018 and the American College of Cardiology in 2019, speaking immense financial interest in the project.
The funding ensures that the device will be submitted for FDA Class III approval and CE mark, allowing Elliot to be used throughout the United States and the European Economic Area, respectively.
Elliot is a natural progression from the HealthTech company’s free mobile iOS app. The app teaches users the proper way to practice cardiopulmonary resuscitation (CPR), alters them when someone nearby is in need and also offers an AED locator to help users find the closest AED when a sudden cardiac arrest strikes a loved one. The CPR resources include instructional videos, reading materials, quizzes, and an interactive CPR challenge where users can test their chest compression accuracy.
HeartHero, whose team has extensive experience as healthcare practitioners and medical device engineers, is working in collaboration with Garrett Technologies, an advanced electrical engineering and embedded software development company with over 30 years of defibrillation experience. Garrett Technologies has already designed and engineered two FDA-approved AEDs and is excited to play an essential role in bringing Elliot to market.
“Garrett Technologies Inc. is honoured to be able to contribute our knowledge of AED’s and medical device development to save lives,” said Michael Garrett, CEO of Garrett Technologies. “When cardiac arrest strikes, it’s critical to have access to an AED that is immediately available, ready to deploy, and easy-to-use. Elliot device will deliver a smaller, simpler to use, on-the-spot AED when it’s most needed to help save a life.”
Elliot is expected to reach the international market by 2020.