This is slightly cooler than regular ol' hospital AC.
Advanced Cooling Therapy - the Chicago-based HealthTech startup that has developed an innovative method for warming and cooling patients - announced today that it has raised $1.5 million in Series A funding.
The company developed and manufactures the ECD (Esophageal Cooling Device), a single-use tube that's inserted into the esophagus in order to modulate and control a patient's body temperature. ACT is also behind the tech platform that manages and monitors this device.
This revolutionary approach to governing body temperature reduces risk and lowers hospital costs while also improving patient outcomes. For example, one use of the ECD is that it can be deployed to effectively implement mild therapeutic hypothermia in order to treat fever.
Founded in 2009, this life-saving technology can be used in the operating room, recovery room, emergency room, and intensive care unit. Founder and CEO Dr. Erik B. Kulstad is a former chemical engineer who invented the company's technology; he's stated that he has a network of colleagues in the emergency medicine field who are eager to purchase the ECD once it's officially cleared by the FDA.
This latest round was led by Skokie-based Heartland Angels, Gopher Angels, and TWV Investment Partnership. Previously, the company raised an undisclosed sum from State and Federal Grants and friends and family.
Though the device is awaiting FDA clearance, it is currently available in Europe.
