HeartBeam

HeartBeam develops a portable cardiac monitoring technology that captures the heart's electrical signals in three dimensions through vector electrocardiography (VECG). The company's core product is a cable-free, credit card-sized device designed to synthesize a 12-lead ECG, enabling physicians to identify cardiac conditions outside of medical facilities. The device collects 3D signals of the heart through five electrodes and converts them into an interpretable 12-lead ECG format for physician review. As of September 2024, HeartBeam's system was under FDA review as the foundational 510(k) submission upon which future submissions would be based. The company's technology platform is protected by 13 US patents and four international patents. HeartBeam combines artificial intelligence capabilities with its VECG technology to improve diagnostic accuracy and detect arrhythmias, with clinical data showing that its AI algorithms delivered equivalent performance to a 12-lead ECG and improved detection of atrial flutter compared to single-lead ECGs. In September 2024, HeartBeam acquired the assets of Livmor, including its FDA-cleared Halo atrial fibrillation detection system, a Samsung-Galaxy-watch-based arrhythmia detection tool.

As of June 2024, the company reported a cash balance of USD 9.2 million and a quarterly net loss of USD 5.0 million for Q2 2024, with research and development expenses of USD 2.8 million compared to USD 1.5 million in Q2 2023.

Key customers and partnerships

In September 2024, HeartBeam established a strategic alliance agreement with Samsung to leverage their combined technologies for cardiac diagnostic capabilities. The partnership builds upon HeartBeam's acquisition of Livmor's assets and includes potential engagement with the Department of Veterans Affairs through the Accelerating VA Innovation and Learning (AVAIL) program. The company also maintained a development agreement with Triple Ring Technologies for the design and development of its telehealth solutions, with a commitment of approximately USD 1.7 million as of September 2024.