Wilmington-based LifeGait Raises $1M

10/16/17

By Addison Lalier, NC BIZ News

A health care technology company based in Wilmington, North Carolina, has raised $1 million in a private equity offering, according to a filing with the Securities and Exchange Commission.

LifeGait Inc. combines digital communication, big data and its patented gait technology to provide health and safety products to the mass market.

The company intends to raise a total of $1.1 million, with $81,666 remaining to be sold, through 12 investors.

The company, incorporated in November 2015, is located in the University of North Carolina at Wilmington’s Center for Innovation and Entrepreneurship. It is led by President and CEO Chris Newton.

LifeGait serves three markets: SportGait, SeniorGait and MedGait.

SportGait is LifeGait’s first commercial solution. The product includes a concussion management system that allows patients, parents and providers to communicate through a mobile app. The program helps facilitate clinical observations, treatment and monitoring periods, with a specific focus on youth athletes.

In June 2017, the tech company teamed up with Medac Health Services, which operates a network of local urgent care facilities, to implement its SportGait system.

The app is free to download on all iOS and Android devices.

Companies relying on a Reg D exemption do not have to register their offering of securities with the SEC, but they must file what’s known as a Form D electronically with the SEC after they first sell their securities.

The filing can be found here.

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