Pharos Capital Acquires Majority Stake in RhythMedix

Pharos Capital Group has acquired a majority stake in RhythMedix, a leading manufacturer and provider of remote cardiac monitoring systems and related services, without disclosing the terms of the transaction.

RhythMedix’s management team is investing alongside Pharos and will continue in their current roles. Dan Delaney, former CEO of TechLab, a former Pharos portfolio company, will represent Pharos on the RhythMedix board of directors.

Based in Mt. Laurel, NJ, RhythMedix was founded in 2013 to improve the remote cardiac monitoring experience for both patients and clinicians. The Company’s proprietary RhythmStar® is the first wearable cardiac ECG monitor with built-in 4G cellular connection, providing faster, more comfortable, and overall better arrhythmia detection without the need for additional devices.

With Pharos’s investment, RhythMedix will achieve higher growth by capturing additional market share, increasing R&D efforts, and expanding into adjacent remote patient monitoring modalities,” said Brian Pike, CEO of RhythMedix.