Medical tech firm Intelesens sets sights on growth after US buyout
A Belfast medical technology company specialising in remote heart-rate monitoring has been acquired for an undisclosed sum.
Intelesens, which started out in 2001 as a spin-out from Ulster University, has been snapped up by UltraLinq Healthcare in New York, but will continue to trade under its existing name.
The US company said the technology pioneered by Intelesens, which employs nearly 40 people, would enable it to provide a greater range of monitoring options. Intelesens' devices are sold globally for monitoring patients both remotely, while they are at home, and in hospital.
It makes Aingeal, a device for monitoring respiration rate, ECG, heart rate, motion and skin temperature in patients.
It was founded by the late Professor John Anderson with Eric McAdams and James McLaughlin (right), who remains its chief technology officer.
Jasmine Gardiner, chief operating officer of UltraLinq, said the company was keen to grow in Belfast, where she praised the work of economic development agency Invest NI. "Northern Ireland, specifically Belfast, has an amazing talent pool that we are excited to tap into," she added.
"When you combine that level of engineering quality and skill with the technology support that Intelesens has enjoyed from Ulster University and a supportive development agency like Invest NI, Belfast becomes an obvious choice for continued corporate development."
UltraLinq Healthcare is part of Renew Health Ltd, and the business hopes that Telesens' technology will complement its cloud platform for sharing and evaluating X-rays, ultrasounds and reports.
Telesens chief executive Aidan Lagan said: "The acquisition has presented a great outcome for our shareholders, and our staff are very excited about the ambitious plans."
Its team of 39 staff will stay at the firm's Heron Road site, near Belfast Lough, where manufacturing of electrodes and devices takes place.
Stephen Farber, chief executive of UltraLinq Healthcare, said: "Intelesens has pioneered the development of proprietary, world-class algorithms for the detection of a range of cardiac arrhythmias from wireless sensors on the body.
"This technology, coupled with the team's incredible knowledge of the space, will allow us to make huge strides towards our end goal of providing cost-effective tools to improve the delivery of cardiovascular care globally."