US-based Avive Secures $56.5Mn Funding to Enhance Access to Portable Defibrillators

This move comes in response to the critical need to improve survival rates for individuals experiencing cardiac emergencies.

US-based Avive Solutions, a portable defibrillator manufacturer, has secured $56.5 million in growth equity financing. This move comes in response to the critical need to improve survival rates for individuals experiencing cardiac emergencies.

To expedite response times for sudden cardiac arrest (SCA) incidents, Avive Solutions has strategically deployed a network of connected defibrillators across various cities in the United States. 

The funding infusion is expected to accelerate the company's efforts in deploying connected defibrillators across various sectors, including corporations, government agencies, fitness chains, universities, and school districts.

The funding round was spearheaded by Questa Capital, Laerdal Million Lives Fund, and Catalyst Health Ventures. 

Notably, RC Capital and Eckuity Capital joined the investment fray, marking their first foray into supporting Avive Solutions.

In a statement, Avive Solutions highlighted the significance of the investment in furthering its mission to enhance access to life-saving defibrillator technology. 

Addressing a Critical Gap in Cardiac Emergency Response

According to a study by the National Institutes of Health, only a meager 4% of sudden cardiac arrest incidents involve the use of automated external defibrillators (AEDs), resulting in a nationwide survival rate of merely 10%. 

Despite the proven efficacy of AED intervention within the initial minutes of a cardiac event, accessibility remains a key challenge.

Avive Solutions aims to bridge this gap by providing connected AEDs equipped with robust internet connectivity features such as cellular, WiFi, GPS, and Bluetooth. These technological enhancements power Avive's suite of software solutions, facilitating remote device monitoring and management.

Sharing insights, Ryan Drant, managing partner at Questa Capital commended the visionary leadership of Avive's executive team, led by Sameer Jafri, Rory Beyer, and Moseley Andrews, for pioneering seamless wireless connectivity integration in AEDs.

"Avive is poised to disrupt a critical but innovation-starved market—automated external defibrillators. The visionary team led by Sameer Jafri, Rory Beyer, and Moseley Andrews has fundamentally transformed AEDs by integrating seamless, wireless connectivity. This connectivity allows for remote device monitoring and management and, crucially, can enable much faster response times to emergent cardiac arrest events," added Drant.

Expanding the '4 Minute City' Initiative

In addition to its technological advancements, Avive Solutions has rolled out its "4-minute city" initiative in select urban centers across the United States. Avive maps out SCAs within city boundaries through this initiative and strategically positions AEDs for easy accessibility by bystanders and emergency service providers.

Carrollton, Texas, recently became the fourth city to join the initiative, with more cities slated to participate in 2024. 

The initiative aims to foster collaboration between communities and emergency response systems, leveraging Avive's software solutions to integrate AED networks into 911 and public safety ecosystems.

With increased financial backing and strategic partnerships, Avive is poised to expand its reach and make significant strides toward improving survival rates for individuals experiencing sudden cardiac arrest incidents.