The Qatar Investment Authority (QIA) announced today that it has invested $250 million in Kardium, a healthcare company that is creating a new treatment for atrial fibrillation (an irregular heartbeat).
New investors, including Janus Henderson Investors, MM Capital, Piper Heartland Healthcare Capital, Eventide Asset Management, and Eckuity Capital, led the investment round. Existing investors also participated, including funds advised by companies such as T. Rowe Price Associates, T. Rowe Price Investment Management, and Durable Capital Partners LP.
The round also included a special investment from a major investor who is well-known in the healthcare sector.
Kevin Chaplin, CEO of Kardium, said that getting this important funding from investors around the world will help the company start selling the Globe system on a larger scale. It will also help improve how they make the system and build a strong sales team.
The new funding will help Kardium speed up the process of getting official approvals for the Globe system. It will also enable the company to increase production and build teams to support clinical work and sales, preparing for the launch planned for later this year.
Clinical data from the PULSAR study on the Globe system showed promising results. After one year, 78% of patients kept a regular heartbeat.
The study also found no safety issues associated with the device during the initial treatment.
Kardium is a leading private medical company that is experiencing rapid growth due to its advanced Globe System, which aids in treating atrial fibrillation (an irregular heartbeat).
Founded in 2007 and based in Canada, the company has been recognized as one of the best workplaces in British Columbia.
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