Semler Announces Investment in Monarch Medical Technologies
SANTA CLARA, Calif., Dec. 12, 2022 /PRNewswire/ -- Semler Scientific, Inc. (Nasdaq: SMLR), a company that provides technology solutions to improve the clinical effectiveness and efficiency of healthcare providers, today announced an up to $5.0 million investment in privately-held Monarch Medical Technologies, LLC (Monarch) through the purchase of a senior secured convertible promissory note. Repayment of the note is secured by a first priority interest in all of Monarch's assets.
Monarch is a digital health company whose proprietary EndoTool® Glucose Management System offers a technology-enabled approach to inpatient glycemic management. The software-as-a-service solution is FDA 510(k) cleared, patent protected and installed at more than 100 health systems across the United States.
The investment in Monarch complements Semler Scientific's offering of Insulin Insights™, a glycemic management software application that healthcare providers can use to optimize outpatient insulin dosing for persons with diabetes.
"We are excited to add a second company in the diabetes management space to our network," said Doug Murphy-Chutorian, M.D., chief executive officer of Semler Scientific. "We believe Monarch has a superior software solution to address customers' concerns about nursing shortages and new CMS quality measures for hypoglycemia and hyperglycemia in the inpatient setting."
About Semler Scientific, Inc.:
Semler Scientific, Inc. is a company that provides technology solutions to improve the clinical effectiveness and efficiency of healthcare providers. Semler Scientific's mission is to develop, manufacture and market innovative products and services that assist its customers in evaluating and treating chronic diseases. Semler Scientific's patented and U.S. Food and Drug Administration (FDA) cleared product, QuantaFlo®, is a rapid point-of-care test that measures arterial blood flow in the extremities to aid in the diagnosis of cardiovascular diseases, such as peripheral arterial disease (PAD). QuantaFlo® is used by Semler Scientific's customers to evaluate their patients more comprehensively for risk of mortality and major adverse cardiovascular events (MACE), associated with a positive QuantaFlo® test. Semler Scientific has an agreement with Mellitus Health to exclusively market and distribute Insulin Insights™, an FDA cleared software product that recommends optimal insulin dosing for diabetic patients in the United States, including Puerto Rico, except for selected accounts, and has made an investment in this private software company. Semler Scientific has also invested in privately held Monarch Medical Technologies, whose product, EndoTool®, is used for glycemic management in inpatient settings and in SynapsDX, whose product, Discern™, is a test for early Alzheimer's disease. Semler Scientific continues to develop additional complementary innovative products in-house and seeks out other arrangements for additional products and services that it believes will bring value to its customers and to the company. Semler Scientific believes its current products and services, and any future products or services that it may offer, positions it to provide valuable information to its customer base, which in turn permits them to better guide patient care. Additional information about Semler Scientific can be found at www.semlerscientific.com.
About Monarch Medical Technologies, LLC:
Monarch Medical Technologies is a digital health company committed to helping hospitals and health systems deliver optimal glycemic management for critical care and non-critical care patients alike. The company's FDA-cleared EndoTool® Glucose Management System is designed specifically to displace traditional manual methods of insulin dosing with an intuitive and easy-to-use software application that integrates seamlessly with all major EMR systems. This pioneering clinical decision support platform offers both intravenous and subcutaneous modalities and has been shown to safely and reliably achieve and maintain target glucose goals while reducing incidence of hyperglycemia and hypoglycemia. Specialized features help clinicians address the complexities surrounding diabetic ketoacidosis (DKA), hyperosmolar hyperglycemic nonketotic syndrome (HHS), gestational diabetes, kidney function, residual insulin, and presence of steroids. Additional information about Monarch can be found at www.monarchmedtech.com.
This press release contains "forward-looking" statements. Such statements can be identified by, among other things, the use of forward-looking language such as the words "goal," "may," "will," "intend," "expect," "anticipate," "estimate," "project," "would," "could" or words with similar meaning or the negatives of these terms or by the discussion of strategy or intentions. The forward-looking statements in this release include express or implied statements regarding Semler Scientific's investment in Monarch and Monarch's software and its ability to optimize outpatient insulin dosing, among others. Such forward-looking statements are subject to a number of risks and uncertainties that could cause such forward-looking statements to differ materially from those discussed herein, such as whether or not Semler Scientific will loan additional funds to Monarch, risks associated with investing in private companies, risks associated with Monarch's software and whether or not Semler Scientific will be repaid or receive value for its investment in Monarch, , along with those risk factors affecting Semler Scientific's business that are detailed in Semler Scientific's filings with the Securities and Exchange Commission. These forward-looking statements involve assumptions, estimates, and uncertainties that reflect current internal projections, expectations or beliefs. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. All forward-looking statements contained in this press release are qualified in their entirety by these cautionary statements and the risk factors described above. Furthermore, all such statements are made as of the date of this release and Semler Scientific assumes no obligation to update or revise these statements unless otherwise required by law.
Susan A. Noonan
S.A. Noonan Communications
917 513 5303
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SOURCE Semler Scientific, Inc.