CARY – PeriGen, which utilizes artificial intelligence (AI) to improve safety in childbirth, has been acquired by Halma plc.
Based in the UK, Halma is a FTSE 100 global group of life-saving technology companies that provide innovative solutions to many of the key problems facing the world today – such as avoidable adverse events in childbirth. Halma’s guiding purpose is to grow a safer, cleaner, healthier future for everyone, every day. To do this, the company identifies and invests in companies in three areas: healthcare, industrial safety technology, and environmental monitoring.
PeriGen’s unique technology helps protect mothers and their unborn babies by using AI tools to continuously monitor laboring patients to identify and highlight troubling trends over the course of labor. These trends can be overlooked and can lead to grave problems if not addressed in time. PeriGen assists healthcare professionals to assess complex data more easily and communicate more effectively, while allowing them to spend more time on direct patient care. An independent, peer-reviewed study concluded that PeriGen software can be used to screen laboring patients in real time when an expert is not continuously evaluating the fetal heart rate. PeriGen’s tools are increasingly being used in a Centralized Remote Fetal Monitoring (CRFM) configuration where a single care team watches over mothers laboring in multiple facilities. In a separate, independent and peer-reviewed study this CRFM configuration support reduced adverse outcomes.
Since 2016, PeriGen has worked closely with majority shareholders Ambina Partners and investors Galen Partners to make operational improvements, execute strategic acquisitions, and implement a focused strategic plan. The resulting platform of perinatal technology has been shown to help healthcare workers mitigate the primary causes of adverse events in childbirth. In joining Halma, PeriGen gains an even stronger platform for long-term growth. The acquisition provides access to a supportive network and additional resources so that PeriGen can continue to expand its perinatal safety technology throughout the U.S. and beyond.
“The last few years have been transformational for PeriGen and demonstrates the potent combination of aligning the interests of a management team, investors and, most importantly, customers and their patients,” said Matthew Sappern, PeriGen CEO. “Years of financial stability and product discipline have led us to a point where we can make impact at scale in North America and soon beyond as part of Halma plc. We are excited for what the future holds for our company.”
PeriGen’s software runs at hundreds of facilities in North America, including academic medical centers, community hospitals and rural care centers. It integrates with all major electronic medical records and can augment a hospital’s existing fetal monitoring equipment to cost-effectively enhance the safety environment. PeriGen was advised in this transaction by investment bank Canaccord Genuity.