Aevice Health Raises S$2.8M to Expand Remote Respiratory Monitoring into Japan

Singapore, 15 June 2021 —  Aevice Health, a Singapore-based MedTech company developing novel wearables for remote respiratory monitoring, today announced it has entered a strategic collaboration with Toho Holdings (TSE:8129) and raised a S$2.8M Pre-Series A funding round with participation from Toho Holdings Co Ltd, Pureland Group Venture, Silicon Solutions Partners, AIP Ventures, and SEEDS Capital, the investment arm of government agency Enterprise Singapore. The new capital will position Aevice Health to further develop its proprietary technology and expand its remote respiratory monitoring solution into Japan to augment the country’s telehealth landscape.

Aevice Health will work with its strategic investor, Toho Holdings Co., Ltd., wholesaler of medicine, medical tools, and equipment with over 700 pharmacies across Japan, to develop and commercialize its remote patient monitoring solution, AeviceMD. The collaboration will provide patients with chronic respiratory diseases in the nation with a tool to stay connected to their healthcare provider, anytime anywhere.

“The pandemic has accelerated the growth and adoption of telehealth, transforming the way patients interact with their healthcare providers. The AeviceMD is a cutting-edge solution that provides patients with a continuum of comprehensive and personalized care remotely. We are thrilled to be partnering Toho Holdings and to have the backing of our investors to position Aevice Health at the forefront of the telehealth industry in Japan,” said Adrian Ang, Chief Executive Officer of Aevice Health.

Chronic respiratory diseases remain the top few leading causes of death in Japan. In 2019, lower respiratory tract infection, lung cancer, and COPD (chronic obstructive pulmonary disease) rank fourth, fifth, and ninth in top causes of total number of deaths in the year[1]. Many of these patients, particularly the elderly with higher comorbidities, require regular check-ups and constantly monitoring. With the disparity in the number of physicians between urban and rural parts of Japan widening[2], many patients living in rural parts of Japan may face difficulties accessing regular care for their chronic conditions.

The company’s flagship device, AeviceMD, is a wearable smart stethoscope that complements telehealth services to facilitate self-management of chronic diseases. Powered by artificial intelligence, it listens to the patient’s chest sounds remotely, continuously and in real time, and detects cardiopulmonary abnormalities (such as wheezing) that are typical of chronic respiratory diseases so that patients can receive fast and targeted care on time from the comfort of their homes. With its robust system packed into a miniaturized sensor, the device sits comfortably on the patient’s chest for hours of continuous monitoring. Overtime, the AeviceMD can help healthcare providers to understand how treatments uniquely impact patient symptoms, enabling them to personalize treatment to optimize patient outcomes.

“We are excited to partner with Aevice Health to support their breakthrough technology to bring positive impact to the future of telemedicine,” said David Liebreich, Chairman of KK eHealthcare, Toho Holding’s Digital Health Subsidiary.

“Pureland Group Venture has long recognized the opportunities and impact present in the digitalization of healthcare. Aevice Health’s innovative solution, which happens to be at the nexus of healthcare and digital technology, has the potential to become a leader in this new frontier. We look forward to being part of their journey as they bring their transformational remote patient monitor into regional markets,” said Mark Wang, Partner, Pureland Group Venture.

“Aevice Health is a homegrown company providing a novel and relevant solution in today’s post-pandemic climate. It has the potential to help health systems deliver quality care to their patients from the comfort of their homes, and we are excited to support them in their journey in improving patient outcomes”, said Tan Kaixin, General Manager, SEEDS Capital.

This investment comes just months after Aevice Health’s partnership with THB Global, leading tech-enabled home care, healthcare, and chronic disease management company with offices in Singapore, Dubai (UAE), and Karachi (Pakistan), to advance remote monitoring of chronic respiratory diseases in the MENASA region (Middle East, North Africa, and South Asia).

 “This new funding is a validation of our solution and a reflection of the confidence in the management team to continue delivering value to our stakeholders. With the support of our investors and partners, we will continue to accelerate our global footprint, advance our remote patient monitoring pipeline, and develop new ways of enhancing workflows of hospitals, pharmaceutical companies, insurers, and health systems to re-envision the future of respiratory care,” Ang added.

[1] Institute for Health Metrics and Evaluation, Japan

[2] Aging of hospital physicians in rural Japan: A longitudinal study based on national census data

About Aevice Health

Aevice Health Pte Ltd is a Singapore-based MedTech spin-off from Nanyang Technological University at the forefront of addressing chronic respiratory disease, one of the generation’s biggest healthcare challenges.

The company’s non-invasive wearable devices enable the early detection of cardiopulmonary abnormalities remotely and in real-time, so that patients can receive fast and targeted care from the ease of their homes. Clinicians can also gain insights into their patients’ health and track their responses to treatment plans easily from the Aevice analytical platform.

In Aevice Health, our mission is to drive medical innovations that transform healthcare, improve outcomes and empower lives.

More information about the company can be found at www.aevice.com.

For media enquiries, please contact:

Janelle Low
Aevice Health Pte Ltd
Email: janellelow@aevice.com