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Telecom Digital Ventures to invest $5M in Vigil Wireless Sensor Technologies

Telecom Digital Ventures is going to invest up to $5 million in New Zealand biometric technology company, Vigil Wireless Sensor Technologies.

According to a report in Computerworld, Vigil is currently a player in the healthcare monitoring space and will team up with Telecom to introduce more health solutions and to target “other market opportunities.”

“New health delivery models using digital technologies are needed to address worsening macro health-trends and help reduce health-care costs,” Ray Avery, the company’s chief scientific officer said. “For example, Vigil offers an intelligent medical alarm using a bracelet and base station that will raise an alarm automatically if an adverse event such as a fall or change in heart rate is detected. Smart technologies such as this will enable more effective methods of medical monitoring. The potential benefits to New Zealand are enormous.”

According to a recently published research report, the global healthcare biometrics market is set to reach $5.9 billion by 2019, growing at a CAGR of 25.9%. Growing security concerns with healthcare facilities and medical insurance have so far driven the growth of this market.

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