BioSig Technologies Inc has announced a new partnership agreement with Summit Blue Capital for implementing a leasing and finance program for its PURE EP System.
The Minneapolis-based Summit Blue Capital is a leader in equipment finance and leasing, as it offers tailored leasing and financing solutions for its partners and clients in industries such as healthcare, manufacturing, hospitality, technology solutions, and more.
Most notably, Summit Blue Capital specializes in simplifying the financing experience and finding solutions to advance commercial rollouts in the healthcare industry.
"We believe that partnering with Summit Blue Capital will have considerable benefits to our commercial plans. We intend to take advantage of the Summit team's expertise, flexibility, and financial solutions as a leasing partner," said BioSig CEO Kenneth Londoner in a statement.
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"Summit Blue Capital came highly recommended by one of the largest money center US financial institutions. We believe this relationship will help take friction out of the sales cycle and advance our timeline while allowing BioSig to get paid upfront per installation. The team at Summit Blue Capital is expected to also help us launch a subscription-based revenue model for our software," he added.
Adam Drill, president of Summit Blue Capital, commented: "BioSig has made significant improvements to the EP market, and they have a unique technology offering with their PURE EP. Summit Blue Capital is excited to partner with BioSig and execute on a strategic financing and leasing program that we believe will benefit their customer rollout and help position them as a leader in medical technology. We look forward to helping each other and building a solid foundation for the future."
BioSig's PURE EP system is a US Food and Drug Administration 510(k) cleared non-invasive class II device that aims to drive procedural efficiency and efficacy in cardiac electrophysiology. To date, 75 physicians have completed more than 2,150 patient cases with the PURE EP System.
Clinical data acquired by the PURE EP System in a multi-center study at Texas Cardiac Arrhythmia Institute at St. David's Medical Center, Mayo Clinic Jacksonville, and Massachusetts General Hospital was recently published in the Journal of Cardiovascular Electrophysiology and is available electronically with open access via the Wiley Online Library.
Study results showed 93% consensus across the blinded reviewers with a 75% overall improvement in intracardiac signal quality and confidence in interpreting PURE EP signals over conventional sources.
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