Bardy Diagnostics

About Bardy Diagnostics

Bardy Diagnostics, established in 2013, focuses on ambulatory cardiac monitoring technologies. The company was founded by Dr. Gust H. Bardy, a seasoned electrophysiologist, whose personal experience with his late wife's undiagnosed heart rhythm disorder fueled his mission to advance cardiac care. Dr. Bardy, a researcher and clinician in the field for over three decades with numerous publications and patents, identified a critical flaw in existing technologies: the inability to clearly capture the P-wave, a key electrocardiogram (ECG) signal essential for accurate arrhythmia diagnosis. This led him to develop a solution to overcome the diagnostic limitations he had encountered professionally and personally.

The company's core product is the Carnation Ambulatory Monitor (CAM), a wearable, non-invasive cardiac patch monitor. Engineered to be lightweight and comfortable for extended wear (up to 14 days), the CAM patch aims to improve patient compliance. Its primary selling point is its P-wave-centric technology; the device is placed on the sternum to optimize P-wave signal capture, which allows for a more precise diagnosis of various, and often hard-to-distinguish, arrhythmias. The system serves clinicians and physicians by providing clear, actionable diagnostic data. The business model involves the provision of these monitoring devices to healthcare facilities, supported by a cloud-based patient management portal, BDxCONNECT, where patient data is uploaded for analysis by ECG technicians who then generate a detailed report.

In January 2021, Hillrom announced a definitive agreement to acquire Bardy Diagnostics for a cash consideration of $375 million, plus potential future milestone-based payments. This acquisition was intended to complement Hillrom's existing cardiology portfolio, which includes cardiac stress exercise, Holter, and resting ECG devices. The transaction was finalized in August 2021 after a legal dispute. At the time of the acquisition announcement, Bardy Diagnostics had annualized revenue of approximately $30 million and employed 230 people. The company's technology is now part of the Baxter diagnostic cardiology portfolio.