Semler Scientific forms new subsidiary, CardioVanta

Semler Scientific (SMLR) announced that it has formed CardioVanta, a wholly-owned subsidiary that will comprise its future healthcare business activities focused on early detection of heart failure and cardiac arrythmia monitoring. CardioVanta will be structured as a high-margin, software-as-a-service business model. It will seek capital from outside investors to validate its long-term value and fund its relatively modest initial capital needs. The markets for early detection of heart failure and cardiac arrythmia monitoring are estimated in the multibillion-dollar range and are projected to grow substantially due to rising cardiovascular disease, technology advancements such as artificial intelligence, the aging population, and increasing adoption of wearable and remote monitoring solutions. According to the Centers for Disease Control and Prevention, heart failure affects more than six million Americans and costs the U.S. healthcare system more than $30B annually. While CardioVanta will focus on cardiac technology and care systems, Semler Scientific will continue marketing its QuantoFlo device and software for early detection of peripheral artery disease.