Endotronix Acquisition, Valuation, Funding & Investors

Endotronix was acquired by Edwards Lifesciences for $675M in July 2024.

Endotronix acquisition price

$675M

Acquired by Edwards Lifesciences · Jul 2024

Cumulative funding Endotronix raised

$109M

across 4 funding rounds

Key investors in Endotronix

  • SV Health Investors
  • Lumira Ventures
  • Aperture Venture Partners
  • OSF Ventures
  • Bioventures Investors
  • EQT
  • Seroba Life Sciences
  • Edwards Lifesciences

Endotronix Overview

About Endotronix

Endotronix is a Lisle, Illinois-headquartered developer of implantable wireless sensors for heart failure management. The company produces the Cordella pulmonary artery pressure sensor paired with a cloud-based patient management platform that tracks hemodynamic data to enable early intervention. Clinicians access real-time vital signs through the system, which supports remote monitoring and reduces hospital readmissions. Founded in 2007, Endotronix partners with healthcare providers to deploy its technology in outpatient settings across the United States.


Founded

2007

HQ

United StatesChicago, IL

Status

Acquired

Customer focus

B2B

Revenue model

Subscription

Valuation

$675M (acquired Jul 2024)

Endotronix Acquisition

Endotronix was acquired by Edwards Lifesciences for $675M on 24 July 2024.

Before the acquisition Endotronix had raised $109M across 4 funding rounds.

Endotronix, an Illinois-based leader in heart failure management solutions, develops the Cordella implantable pulmonary artery pressure sensor system, which tracks PA pressure, blood pressure, pulse, weight, and symptoms to enable early, targeted therapeutic interventions; it received FDA approval in June 2024, with a CMS national coverage determination expected in early 2025. Edwards Lifesciences, a global leader in patient-focused innovations for structural heart disease based in Irvine, California, exercised its option to acquire Endotronix, building on a 2016 investment, as part of a dual acquisition with JenaValve Technology announced on July 24, 2024. The aggregate upfront purchase price for both deals is approximately $1.2 billion in cash, potentially increasing by up to $445 million upon milestone achievements, subject to antitrust and foreign investment approvals; the Endotronix deal received US regulatory approval on August 19, 2024. The acquisition expands Edwards' structural heart portfolio into heart failure, a new therapeutic area addressing unmet needs for patients with HF, many of whom are also served by Edwards' structural heart technologies with limited options. Edwards' CEO Bernard Zovighian stated these moves provide innovation and clinical evidence for life-saving technologies worldwide. This follows Edwards' $4.2 billion sale of its critical care portfolio to BD in June 2024, signaling a strategic focus on structural heart innovation; Edwards anticipates minimal revenue from the acquisitions in 2025 but views them as long-term growth opportunities. Endotronix, backed by EQT Life Sciences as lead investor in its Series D from LSP Health Economics Fund 2, benefits from Edwards' resources, distribution, and synergies in cardiac care.

Endotronix acquisition details
AcquirerDateTypePrice
24 Jul 2024Strategic M&A$675M

Endotronix Funding History

Endotronix has raised a total of $109M across 4 funding rounds.

Endotronix's first fundraising round was a $2M seed round in April 2014. The most recent completed round was a $70M Series D in September 2018.

Endotronix funding rounds

Endotronix funding rounds
DateStageInvestorsRaisedDeal Summary
Sep 2018Series DEQT (lead); OSF Ventures; Aperture Venture Partners; SV Health Investors; Lumira Ventures; Skydeck; Bioventures Investors; Seroba Life Sciences; Wanxiang America Healthcare Investments Group$70MEndotronix is a medical device company developing the Cordella cardiovascular monitoring technology. A subsequent Series D - II round of $25M occurred on October 1, 2019, with the same core investors plus Skydeck. The company continued raising capital post-2018, including a $3.5M Loan - II in April 2020, with total funding reaching $160.68M over 21 rounds from 19 investors. Endotronix was ultimately acquired on July 24, 2024, marking its latest major event.
Jul 2016Series COSF Ventures; Aperture Venture Partners; SV Health Investors; Lumira Ventures; Bioventures Investors; Edwards Lifesciences$37MEndotronix, based in Lisle, Illinois, develops the Cordella cardiovascular monitoring system, which includes a wireless cardiac monitor and an implantable miniature pressure sensor in the pulmonary artery to measure pressure and transmit data wirelessly to healthcare providers for heart failure management. In 2016, the company raised $37.1 million from 52 unnamed investors in an equity crowdfunding round starting in July, following a $12 million term loan and $32 million Series C in the same month. Later, Endotronix closed a $45 million Series D round led by LSP, with participation from Aperture Venture Partners, BioVentures Investors, Lumira Ventures, OSF Ventures, Seroba Life Sciences, SV Health Investors, Wanxiang Healthcare Investments, and an unnamed strategic investor. The Series D funding supports CE Mark approval in the EU, FDA pre-market approval, U.S. and EU launch of Cordella, and the Proactive-HF randomized controlled clinical study to demonstrate safety and effectiveness in proactive heart failure management.
Jun 2015Seed-$500K-
Apr 2014Seed-$2M-

Who has invested in Endotronix?

10 investors have backed Endotronix across its funding rounds, including SV Health Investors, Lumira Ventures, Aperture Venture Partners, OSF Ventures, Bioventures Investors and EQT.

Lead investors include EQT.


Endotronix Investors

Investors in Endotronix by funding rounds participated
InvestorHQRoundsRoleFirst check
OSF VenturesUnited StatesPeoria, IL2ParticipantJul 2016
Aperture Venture PartnersUnited StatesNew York City, NY2ParticipantJul 2016
SV Health InvestorsUnited StatesBoston, MA2ParticipantJul 2016
Lumira VenturesCanadaToronto2ParticipantJul 2016
Bioventures InvestorsUnited StatesBoston, MA2ParticipantJul 2016
EQTSwedenStockholm1LeadSep 2018
SkydeckUnited StatesSan Francisco, CA1ParticipantSep 2018
Seroba Life SciencesIrelandDublin1ParticipantSep 2018

This data is available for Pro users. Sign up to see all 10 Endotronix investors.

Start Free Trial

Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.

Start Free Trial

Endotronix Competitors

Endotronix competitors include listed companies like Veradigm and MedicalSystem Technology, and private ones like AcuityMD, Dental Monitoring, HealthVerity and Arine.

Public and private companies comparable to Endotronix
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
AcuityMDUnited StatesBoston, MAPrivate--$955M-
Dental MonitoringFranceParisPrivate$91M-$1B-
HealthVerityUnited StatesPhiladelphia, PAPrivate--$721M-
VeradigmUnited StatesUnited StatesPublicly listed$588M$54M$523M0.9x
ArineUnited StatesSan Francisco, CAPrivate--$520M-
MedicalSystem TechnologyChinaChinaPublicly listed$45M$12M$889M15.6x

Endotronix Public Comps

Endotronix is no longer listed, but its public comps include Cytek Biosciences, UltraGreen.ai, Sunmax Biotechnology, MiMedx Group, Barco, SS Innovations, Star Sports Medicine, Lumibird, Japan Lifeline and Mesa Laboratories.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Cytek Biosciences$201M($24M)2.2x2.1x(18.4x)(78.1x)
UltraGreen.ai$138M$78M3.4x2.9x6.1x4.7x
Sunmax Biotechnology$64M$35M10.2x-18.6x-
MiMedx Group$419M$78M1.4x1.8x7.2x21.0x
Barco$1.1B$141M0.7x0.6x5.2x5.3x
SS Innovations$42M($7M)15.5x12.0x(92.4x)(71.9x)
Star Sports Medicine$60M$24M9.0x-22.0x-
Lumibird$263M$48M2.8x2.7x15.5x12.7x

This data is available for Pro users. Sign up to see all Endotronix competitors and their valuation data.

Start Free Trial

Common questions about Endotronix

When was Endotronix founded?Endotronix was founded in 2007.
Where is Endotronix headquartered?Endotronix is headquartered in Chicago, IL, United States.
Is Endotronix publicly listed?No, Endotronix was acquired by Edwards Lifesciences in July 2024.
Who acquired Endotronix?Endotronix was acquired by Edwards Lifesciences in July 2024.
How much was Endotronix acquired for?Endotronix was acquired for $675M in July 2024.
How much funding has Endotronix raised?Endotronix has raised $109M across 4 funding rounds.
What was Endotronix's last funding round?Endotronix's last funding round was a $70M Series D in September 2018, led by EQT.
Who are Endotronix's investors?Endotronix's investors include OSF Ventures, Aperture Venture Partners, SV Health Investors, Lumira Ventures, Bioventures Investors, EQT, Skydeck, Seroba Life Sciences, Edwards Lifesciences and Wanxiang America Healthcare Investments Group.
Which companies are comparable to Endotronix?Companies comparable to Endotronix include AcuityMD, Dental Monitoring, HealthVerity, Veradigm, Arine and MedicalSystem Technology.

See companies similar to Endotronix

Start Your
Free Trial Today

Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.

Start Trial