Respiri, an e-health Software-as-a-Service company supporting respiratory healthcare management and remote patient monitoring, raised $6.5 million in a private placement, including a $5 million investment from cornerstone investor Benjamin Richards, director of Principal Wealth Group.
Principal Wealth Group committed up to $20 million to fund future acquisitions.
Funds raised will be used for the final payments of the Access acquisition and working capital to expedite remote patient monitoring business growth in the US.
Respiri also obtained a binding $20 million commitment facility from Principal Wealth, subject to shareholder approval.