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Furst Draft: Mayo invests in Silicon Valley device maker

April 15, 2017 GMT

Here’s big news about a Mayo investment in a Silicon Valley company that makes devices that plug into smartphones to produce EKGs, so a doctor can monitor a patient’s heart function from afar.

From Business Insider:

Alivecor, a Mountain View tech company making health devices, doesn’t compete with fitness bands like Apple Watch or Fitbit — it’s making real medical devices that doctors can use to keep up with their patients.

Alivecor announced $30 million in Series D funding on Thursday from Mayo Clinic and Omron Healthcare. It had previously received $13.5 million in venture funding from investors including Kholsa Ventures and Qualcomm.

“For Mayo to invest is a big deal,” Alivecor CEO Vic Gundrota told Business Insider. “There are a lot of Silicon Valley health companies, but not many with Mayo as an investor.” Gundrota declined to comment on the company’s current valuation.