Harpeth Capital is pleased to announce that it served as exclusive financial advisor to RhythMedix, LLC in connection with a majority investment from Pharos Capital Group. The senior leadership of RhythMedix has maintained a significant equity stake in the company. With additional financial resources and strategic support, the partnership with Pharos will allow the company to pursue acquisition opportunities, grow its sales team in both existing and new markets, and make further investments in its hardware and software platforms.

Co-founded in 2013 by Brian Pike and Stan Biletsky and headquartered in Mt. Laurel, New Jersey, RhythMedix is a leading integrated platform transforming ambulatory cardiac monitoring by providing cutting-edge cardiac hardware and continuous, cloud-based remote monitoring solutions serving physicians and their patients nationwide. Heart disease is the leading cause of death in the United States, with arrhythmia and other detectable conditions more than doubling the risk of death. Supported by proprietary technology leveraging machine learning, AI, and other related algorithm data analysis, the company's team of experienced, certified technicians verify every heartbeat in near real-time, reducing missed events while providing transparency to full-disclosure data.

"We are extremely grateful to Harpeth Capital for their support and guidance throughout the process," said Brian Pike, President and Co-Founder of RhythMedix. “They introduced us to many great groups and helped the company shine every step of the way - from drafting the CIM to introductory calls to management visits to post-LOI diligence. With the experience and resources of the Pharos team, we could not be more excited about the opportunities to further build upon what we believe to be the best solution available to physicians, practices, health systems, and, most importantly, their patients."

Adam Landa, Managing Director of Harpeth Capital, shared his thoughts on the transaction, "We love working with founders like Brian and Stan, who saw a need and launched RhythMedix with a goal to improve patient outcomes and make ambulatory cardiac monitoring almost effortless. Furthermore, they have built a great team from the bottom up and developed a culture that is palpable." Added Chuck Byrge, CEO of Harpeth Capital, "With Harpeth Ventures participating in the transaction alongside the management team, we look forward to seeing RhythMedix and Pharos capitalize on numerous growth initiatives." 

The Philadelphia office of Ballard Spahr LLP served as legal advisor to the company. For further details about the transaction, please see the announcement here.