Michael Barbella, Managing Editor03.18.22
Investors have funneled $22 million into Chronus Health's coffers to facilitate the company's product development.
Tarsadia Investments led the Series A financing round; other support came from Monta Vista Capital, SOSV, Savantus Ventures, and an undisclosed strategic investor. Chronus Health will use the money to scale its research, engineering, and data science teams, as well as accelerate its product and technology development.
“Our platform is poised to disrupt the clinical lab testing market, which primarily relies on expensive and bulky blood analyzers in central labs,” explained Anand Parikh, CEO and co-founder of Chronus Health. “Our low cost and compact system, which leverages microfluidic and semiconductor technologies, enables real-time diagnostics in multiple clinical settings and is designed to improve time-to-care and outcomes for patients globally.”
While several on-site blood analyzers are already available in the market, most clinics are reluctant to buy them due to their size, operational complexity, and cost. Chronus Health’s portable in-vitro diagnostics (IVD) platform facilitates real-time blood diagnostics at the point-of-care, providing lab results in minutes with the aim of dramatically improving patient outcomes. The system is designed to handle approximately 85 percent of the blood tests performed annually.
“Chronus has approached an incredibly difficult technical challenge from first principles, which has resulted in a scalable system optimized for the future of healthcare delivery. While many have focused on re-engineering legacy technologies into new form factors, we believe Chronus’ novel approach will unlock the true market potential for real-time diagnostics,” said Rishi Reddy, managing director of Tarsadia Investments and Chronus Health board member.
Chronus Health, a Fogarty Innovation company, develops in-vitro point-of-care devices leveraging microfluidics and semiconductor technologies.
Tarsadia Investments led the Series A financing round; other support came from Monta Vista Capital, SOSV, Savantus Ventures, and an undisclosed strategic investor. Chronus Health will use the money to scale its research, engineering, and data science teams, as well as accelerate its product and technology development.
“Our platform is poised to disrupt the clinical lab testing market, which primarily relies on expensive and bulky blood analyzers in central labs,” explained Anand Parikh, CEO and co-founder of Chronus Health. “Our low cost and compact system, which leverages microfluidic and semiconductor technologies, enables real-time diagnostics in multiple clinical settings and is designed to improve time-to-care and outcomes for patients globally.”
While several on-site blood analyzers are already available in the market, most clinics are reluctant to buy them due to their size, operational complexity, and cost. Chronus Health’s portable in-vitro diagnostics (IVD) platform facilitates real-time blood diagnostics at the point-of-care, providing lab results in minutes with the aim of dramatically improving patient outcomes. The system is designed to handle approximately 85 percent of the blood tests performed annually.
“Chronus has approached an incredibly difficult technical challenge from first principles, which has resulted in a scalable system optimized for the future of healthcare delivery. While many have focused on re-engineering legacy technologies into new form factors, we believe Chronus’ novel approach will unlock the true market potential for real-time diagnostics,” said Rishi Reddy, managing director of Tarsadia Investments and Chronus Health board member.
Chronus Health, a Fogarty Innovation company, develops in-vitro point-of-care devices leveraging microfluidics and semiconductor technologies.