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Irish Internet Medical Device Solutions Provider FIRE1 Secures $120 Million in Strategic Financing

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Irish Internet Medical Device Solutions Provider FIRE1 Secures $120 Million in Strategic Financing
FIRE1, headquartered in Dublin, Ireland, is a provider of interconnected medical device solutions. Focusing on the research and development of medical devices for heart failure monitoring, the company is committed to improving the treatment outcomes for patients with chronic diseases. Its mission is to help millions of heart failure patients return to normal life. The FIRE1 system developed by the company is the first device to monitor the dynamic changes of the inferior vena cava. About the size of a pen cap, it has completed the first clinical trial implantation.

 

Recently, FIRE1 has obtained a strategic investment of $120 million. Elevage Medical Technologies and Polaris Partners jointly led the investment, with Sands Capital Ventures, Matrix Partners, Andera Partners, Gilde Healthcare Partners, Gimv, the Ireland Strategic Investment Fund, Lightstone Ventures, Medtronic, New Enterprise Associates (NEA), Novo Holding A/S, and Seventure Partners participating in the follow-on investment.

 

Conor Hanley, CEO and President of FIRE1, said, "From the very beginning, our team has been driven by two core goals: to create a better way to manage heart failure through more direct monitoring of fluid volume, and to improve patients' lives with actionable data."

 

In addition to the financing, FIRE1 also announced that it has received the "Breakthrough Device Designation" issued by the U.S. Food and Drug Administration (FDA) and has been included in the FDA's "Total Product Life Cycle Consultation Program" (TAP).

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