develop an integrated device to help diagnose sleep apnea. He says that in addition to ResMed, some of the big players in the current market are Philips Respironics, Compumedics, and Natus Medical (NASDAQ: [[ticker:BABY]]). All four companies engineer the hardware for devices used to conduct sleep tests, and also develop software to access and store data collected by the machines, Fernandez says.
“The kind of integration we’re going for is so that the users don’t have to switch between different software apps,” he says. “We’ll basically try to add a button so that they can submit the data to EnsoData to be analyzed, we send back the results in the native file format, and they can review the results in the native software.”
Asked whether those integration efforts would occur through partnerships or through a strategic sale to a larger, more established business, Fernandez says it’s a little too early to tell.
An eventual exit would translate into a payday for HealthX Ventures, whose offices are in a downtown Madison building that also houses three other venture funds, and to which EnsoData recently relocated.
HealthX was one of the participants in Redox’s $3.5 million Series A round, announced in October; Redox helps software developers integrate with patient record-keeping systems used at hospitals and clinics. Other Madison-based companies members of HealthX’s team have invested in include Catalyze, Forward Health Group, Healthfinch, and HealthMyne.
