Monday, December 5, 2011

Qualcomm Launches Medical Devices Subsidiary, $100M Fund

San Diego-based Qualcomm announced this morning that it has created a new, wholly owned subsidiary called Qualcomm Life, which will focus on wireless solutions for the medical devices market. The new subsidiary will also backed by a new, venture capital investment fund worth $100M, called the Qualcomm Life Fund, which will invest in medical device manufacturers. Qualcomm said its new Qualcomm Life subsidiary will operate its former Qualcomm Wireless Health business, and will offer a platform to connect wireless medical devices via the cloud. The service will help medical device manufacturers connect their devices wirelessly via mobile phones, cell connections, and other technology. The new, $100M investment fund will go towards accelerating wireless health services and technology, and will be part of Qualcomm's existing allocation for its Qualcomm Ventures arm. Qualcomm said investments in the are currently include Sotera Wireless, Telcare, AliveCor, Cambridge Temperature Concepts and WorkSmart Labs.

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