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Semler Scientific, Inc. (NASDAQ:SMLR), a $747 million market cap healthcare company with impressive gross profit margins of 91%, announced Tuesday the formation of a new wholly owned subsidiary, CardioVanta, Inc., which will focus on early detection of heart failure and cardiac arrhythmia monitoring. The company stated that CardioVanta will lead its future healthcare business activities in these areas.
According to a press release statement, CardioVanta will seek capital from outside investors to validate its long-term value and to fund its initial capital needs, which the company described as relatively modest. The announcement comes as Semler’s stock, currently trading at $42.31, has seen a remarkable 47% gain over the past week, though InvestingPro analysis suggests the stock is currently overvalued. Semler Scientific did not disclose specific financial terms or additional operational details regarding the new subsidiary.
The filing noted that CardioVanta’s business activities will be centered on advancements in cardiac health monitoring and early detection technologies. Semler Scientific indicated that seeking external investment is intended to support the subsidiary’s development and growth.
The company also included standard forward-looking statements and cautioned that actual results may differ due to various risks and uncertainties, including regulatory approvals and the ability to raise capital.
Semler Scientific’s common stock is listed on The Nasdaq Stock Market LLC under the symbol SMLR. The information in this article is based on a statement released in a U.S. Securities and Exchange Commission filing.
In other recent news, Semler Scientific reported a challenging first quarter for 2025, with a net loss of $64.7 million and a 44% decrease in revenue to $8.8 million. Despite these financial setbacks, the company raised approximately $114.8 million through stock sales, as disclosed in an SEC filing. Semler Scientific continues to focus on its Bitcoin treasury strategy, having acquired 455 Bitcoin for $50.0 million, which brings its total holdings to 4,264 Bitcoin. Additionally, the company has formed a new subsidiary, CardioVanta, to focus on early detection of heart failure and cardiac arrhythmia monitoring. This move aligns with their ongoing efforts in the healthcare technology sector. Moreover, the company appointed Natalie Brunell to its Board of Directors, strengthening its Bitcoin strategy with her expertise. These developments reflect Semler Scientific’s dual focus on expanding its healthcare offerings and leveraging Bitcoin as a primary treasury reserve asset.
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