# Forest Devices

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/forest-devices

- Industry: Medical Devices & Equipment
- Headquarters: Pittsburgh, US
- Website: www.forestdevices.com
- Total disclosed funding: $2.3M
- Latest round: Seed (Jan 11, 2018)
- Investors on record: 1

## About

Forest Devices, Inc. is a medical technology company focused on developing innovative diagnostic tools to enhance stroke detection and improve decision-making in acute care environments.Founded in 2015 in Pittsburgh, US, Forest Devices, Inc. specializes in creating advanced stroke detection devices. The company's founders include Carmelo Montalvo and Steve Morrow, with Matthew Kesinger serving as CEO. Their most recent funding round occurred on January 11, 2018, when they raised USD 2.3 mn in a Seed round led by GOOSE Capital, totaling their capital raised to USD 2.3 mn.Forest Devices specializes in developing innovative tools designed to enhance the detection of strokes and streamline decision-making in acute care settings. Their flagship product, the SignalNED Model RE, is a diagnostic device that leverages advanced algorithms for rapid and precise stroke assessment, having successfully obtained 510(k) clearance from the FDA. This device is intended for use by healthcare professionals across various points in the care pathway, enabling them to make informed decisions that can significantly improve patient outcomes. The company targets a diverse range of healthcare providers, including hospitals, emergency medical services, and outpatient clinics, primarily within the United States and select markets in Europe. Forest Devices is committed to easing the burden on healthcare systems and supporting the recovery of stroke patients through its user-friendly technology.Forest Devices generates revenue through direct sales of its medical devices to healthcare institutions, focusing on partnerships with hospitals and emergency response organizations. The revenue model revolves around transactional sales of its flagship products, such as the SignalNED Model RE. Specific pricing structures for its products have not been disclosed, but it is common for medical technology firms to engage in varying transactional frameworks, including volume-based pricing agreements or service contracts. By positioning itself as a vital partner in the stroke detection landscape, Forest Devices aims to establish ongoing relationships with its clients, ensuring continued support and integration of its devices into their care processes.In January 2018, Forest Devices received USD 2.3 mn from its latest funding round led by GOOSE Capital. The company plans to utilize these funds to further develop its product line, including upcoming enhancements to the SignalNED Model RE, with the objective of launching additional features aimed at improving stroke detection accuracy. The company is also targeting expansion into select European markets by 2023, aiming to increase its footprint in regions with high stroke incidence. This growth strategy aligns with their commitment to advancing patient care through innovative medical technology.

## Funding rounds

- Seed, Jan 11, 2018, $2.3M — GOOSE Capital

## Investors

- GOOSE Capital (https://capitalatlas.ai/funds/goose-capital) — Seed