MedRhythms, Inc.

Portland,
ME
(2023)

MedRhythms, Inc.

Healthcare

Investment

NMTC Amount: $1,249,993
Total Project Cost: $13,484,421

IMPACT

67 FTE jobs
20 jobs created and 47 jobs retained.

CDEs

Advantage Capital, Community Development Venture Capital Alliance

Investor

US Bank

Project Description

MedRhythms, Inc. (“MedRhythms”) is a digital therapeutics company using sensors, software, and music to deliver Auditory-Motor Entrainment (“AME”) therapy to chronic stroke survivors. Rhythmic auditory stimulation unconsciously synchronizes with the motor system, leading to improvements in walking speed, gait symmetry, and fall risk, ultimately improving independence and quality of life for patients. This project supported MedRhythm’s ongoing research, development, and product commercialization efforts and provided working capital.

MAP

Address: 183 Middle Street, Suite 300, Portland, ME 4101

Census Tract: 23005000300

Other Maine Projects

St. Croix Tissue

Baileyville,
ME
(2014)

Business Development, Manufacturing, Rural

CDE(s): CEI Capital Management

The tissue production facility has created 80 direct, full-time jobs, while preserving the 320 jobs at the Woodland Pulp facility.

Athens Biomass

Athens,
ME
(2013)

Business Development, Energy, Manufacturing, Rural, Timber and Agriculture

CDE(s): CCG Community Partners

An existing successful vertically-integrated, third-generation family owned white wood pellet manufacturing and timberland business based on a 55-acre site in rural Athens, ME, added a new all-in-one biomass processor, boiler

New England Forestry

Jackman,
ME
(2005)

Manufacturing, Rural, Timber and Agriculture

CDE(s): Bluehub, Rural Development Partners

The wood industry is one of the largest employers in the state of Maine accounting for approximately 19,000 jobs.

Gulf of Maine Research Institute

Portland,
ME
(2004)

Business Development, Research, Science and Tech

CDE(s): CEI Capital Management

Construction of a 44,000 sq. ft. marine research/education laboratory on the waterfront in Portland, with a mission of sup-porting the fishing industry in the Gulf of Maine.