Icentia Appoints Sanjay Voleti as Chief Executive Officer

Experienced digital health executive to lead Icentia's next phase of international growth, with a focus on expanding its presence in the U.S. market

Icentia has appointed Sanjay Voleti as Chief Executive Officer, succeeding co-founder Pierre Paquet, who led the company from its early development to its position as a major player in ambulatory ECG monitoring. Voleti will lead the company's next phase of growth, with a focus on scaling commercial adoption in the United States.

Voleti brings more than two decades of global executive experience across digital health, artificial intelligence, semiconductors and consumer technology. He joins Icentia at a pivotal stage in the company's growth, as it draws on its established international presence and accelerates commercial expansion, particularly in the United States.

Under Voleti's leadership, Icentia will continue to invest in ambulatory ECG monitoring, with a focus on technology deployment, enterprise customer acquisition, global operations and customer satisfaction. The company's goal is to make its end-to-end diagnostic solutions increasingly accessible to health systems, hospital networks and cardiology practices around the world.

"Icentia has built something remarkable: a technology platform that solves a real clinical need, solutions that deliver value to physicians and patients, and an organization with a strong international foundation," said Sanjay Voleti, CEO of Icentia. "I'm excited to work with the team to extend Icentia's impact, particularly in the U.S. market. Our focus will be on making it easier for healthcare organizations to adopt and scale Icentia's solutions while delivering an exceptional customer experience."

From Canadian roots to an international company

Since co-founding Icentia, Pierre Paquet has played a central role in transforming the company from a Canadian healthcare technology venture into an international organization. Under his leadership, Icentia established operations in Canada, the United Kingdom, Ireland and the United States.

The transition comes as Icentia enters a new stage of development, with the infrastructure, technology and international footprint in place to support further growth.

"Building Icentia from the ground up and seeing it become an international company has been one of the most rewarding experiences of my career," said Pierre Paquet, co-founder of Icentia. "We have built a strong organization with a presence in four countries and established CardioSTAT® as a leading platform in continuous ambulatory ECG monitoring. I'm proud of what our team has accomplished and confident that the company is ready for its next chapter. The time is right to bring in a leader with the experience to take Icentia to the next level. Sanjay understands how to scale technology businesses internationally, build strategic partnerships and develop large markets. His international experience in digital health and background in scaling technology businesses, particularly his work at AliveCor, give him a strong understanding of both the opportunities and the challenges ahead. I'm especially excited to see what he can accomplish in the United States."

A track record in digital health and global technology

Before joining Icentia, Voleti was co-founder and CEO of Adventyx, an AI enterprise platform operating in the generative engine optimization (GEO) space.

Previously, he spent nearly six years as Chief Strategy Officer and Chief Business Officer at AliveCor, where he was responsible for corporate strategy, strategic commercial partnerships and global market expansion for AI-powered ECG technologies.

Earlier in his career, Voleti held leadership and business management roles at Amazon and Texas Instruments, where he led international organizations, shaped product strategy and directed large-scale global go-to-market initiatives.

"Pierre and the team have done the hard work: building the technology, establishing the company internationally and earning the trust of clinicians and patients," said Voleti. "What excites me is how much room there is to grow from here — getting our diagnostic solutions into the hands of more healthcare organizations and changing how cardiac monitoring is delivered at scale."

Fondaction and BDC invest in Icentia to accelerate the rollout of a Québec-based innovation in cardiovascular diagnostics

Fondaction and the Business Development Bank of Canada (BDC) have announced an investment in Icentia, a Québec-based medical technology company. This funding round was initiated by Fondaction and BDC with participation from existing investors, including Investissement Québec, CIC Capital and the Theodorus Fund. This support will accelerate the rollout of an innovative technology that improves the quality of and access to cardiology care, while promoting the sustainable growth of a Québec flagship company.

Icentia has developed CardioSTAT®, a long-term ambulatory cardiac monitoring solution that increases the quality and speed of cardiac arrhythmia detection. This solution combines a single-use ECG recorder and state-of-the-art analysis technology, including artificial intelligence. This innovation makes it easier to detect cardiac abnormalities early on, which helps prevent related complications.

"Through this investment, we're supporting a company that is tangibly improving access to arrhythmia diagnosis and enabling faster intervention at a time when heart disease is becoming more prevalent. Icentia also stands out for its responsible management of the lifecycle of its medical devices, particularly through the reconditioning and reuse of components. This approach reduces the environmental footprint and makes medical monitoring more accessible to the public while creating value for Fondaction's shareholders," says Alain Longpré, Fondaction's Deputy Head of Impact and Sustainable Investments.

"Icentia exemplifies the potential of Canadian companies that transform cutting-edge technologies into tangible solutions that improve people's lives. With its expertise in cardiovascular diagnostics and strong commercial growth, the company is well positioned to expand its impact across Canada and internationally," said Louise Langevin, Vice President, Growth Capital and Business Transition Capital, BDC. "This is exactly the type of company our team aims to support at an important stage of its development. This financing comes at a pivotal time as Icentia reaches a significant milestone: achieving financial and operational self-sufficiency, supported by proven commercial traction across several key markets."

This investment will allow the company to speed up its development, increase its operational capacity, and meet the growing demand for more accessible cardiac monitoring solutions. It will provide more patients with access to rapid diagnoses while promoting the growth of a high-impact Québec technology.

"This joint support from our current partners, from BDC and from Fondaction will enable us to accelerate our growth, making our technology accessible to more patients around the world. Beyond financial support, we're proud to welcome BDC and Fondaction, as well as to once again team up with organizations that share our belief in creating economic value in Québec and Canada while positively and sustainably contributing to society," explains Pierre Paquet, Co-Founder of Icentia.

About Fondaction

A forerunner for more than 30 years, Fondaction is the investment fund for individuals and companies that are mobilizing for the positive transformation of Québec's economy, making it fairer, more inclusive, greener and more performant. As a labour-sponsored fund created at the initiative of the CSN, Fondaction represents tens of thousands of savers and hundreds of companies committed to helping Québec progress. It manages more than $4.5B in net assets, as of May 31, 2026, invested largely in hundreds of businesses and on the financial markets, prioritizing investments that generate positive economic, social and environmental spinoffs in addition to a financial return. Fondaction helps create and maintain quality jobs, reduce inequalities and fight climate change.

About BDC, Canada's bank for small- and medium-sized business owners
BDC focuses on small- and medium-sized business owners, providing them financing, investment, and advice. As Canada's development bank, we also support entrepreneurs who don't fit the traditional mold working with a network of partners and help develop underserved markets to unlock economic potential. Our mission is to build strong, resilient businesses that drive Canada's economic growth. BDC is a perennial Canada's Top 100 Employer and B Corp certified. 

Icentia Receives U.S. Food and Drug Administration (FDA) Clearance for CardioSTAT®

Icentia Inc., today announced that it has received FDA 510(k) clearance for CardioSTAT, an ambulatory, continuous ECG monitoring solution that relies on a wire free, single-use recorder.

“This approval marks a key milestone for our company. The FDA clearance opens the door to the world’s largest medical device market. With the cost effectiveness and demonstrated ability of our cardiac monitoring solution to provide effective patient care and outcomes, we have no doubts that CardioSTAT will make a meaningful difference in the diagnosis of patients with cardiac disorders in the United States.”, said Pierre Paquet, co-founder and Chief Executive Officer at Icentia.

CardioSTAT has now become the leading wearable cardiac monitoring solution in Canada. Expansion has followed in 2018 with the United Kingdom, where it is experiencing an exceptional adoption rate. To this day, CardioSTAT has been prescribed to more than 170,000 patients. With this clearance, Icentia will be able to pursue its mission of becoming a world leader in ambulatory cardiac monitoring by extending its market to the United States.

The CardioSTAT solution differentiates itself by being the most flexible solution available: physicians have a choice of multiple monitoring durations ranging from 24 hours to 14 days. The pay by duration model enables healthcare professionals to demonstrate cost savings while addressing a wide range of clinical needs. In addition to offering an efficient ECG data analysis service, Icentia also provides the ability for healthcare institutions and diagnostic facilities to benefit from the streamlined workflow of the CardioSTAT single-use recorder while performing the data analysis themselves using Icentia’s cost effective proprietary software.

About CardioSTAT

The CardioSTAT recorder is a flexible, lightweight, and showerproof device designed to be comfortably worn on the upper chest. It can record up to 14 days of data with a compliance rate of 99,9%(1). This enables medical practitioners to detect heart anomalies that are generally difficult to identify, such as atrial fibrillation, which affects from 1% to 3% of the world population (up to 9% of people aged over 65 and 17% of people over 80%) and contributes to more than 140,000 deaths per year with stroke being the leading cause of serious long-term disability in the US(2).

About Icentia

Icentia is a Canadian medical technology company that develops medical devices and operates cardiac diagnostic testing facilities in Canada and the United Kingdom. It is committed to improving cardiac monitoring and accessibility for both patients and physicians, by offering leading edge solutions to major problems in the field of medical testing.

For more information, please visit:

www.icentia.com

www.cardiostat.com

 References

(1).      Internal data collected on more than 90,000 patients, Icentia Inc. 2018-2021

(2).      Stroke awareness foundation, facts and statistics Stroke Facts & Statistics - Stroke Awareness Foundation (strokeinfo.org)

Icentia Is Proud To Announce That It Has Been Listed as One of Canada’s Top Growing Companies for the Fourth Consecutive Year in the Globe and Mail’s 2022 Ranking.

Icentia, a medical device and ECG analysis solutions company, announced that it has been listed in the Globe and Mail's ranking of Canada's Top Growing companies for the fourth consecutive year. It is rare for companies to be listed in this ranking for several years in a row, which is a testament to the Icentia’s consistent growth. 

"It fills us with great pride to be part of this prestigious ranking once again. It is a reward not only for the work done over the years by the whole Icentia Team, but it also demonstrates our willingness and ability to serve more and more patients around the world.  Our growth is driven by offering market leading solutions and customer service, developed by listening to our customers’ and market needs," explains Pierre Paquet, CEO of Icentia.

Since the launch of the CardioSTAT recorder in 2015, Icentia continues its development across Canada but also internationally. After a successful launch in the United Kingdom in 2018, the company has recently expanded in 2022 into the Republic of Ireland and is targeting other territories in the coming years. 

Canada’s Top Growing Companies is an editorial ranking that was launched in 2019. It aims to celebrate bold entrepreneurial achievement and bring the accomplishments of innovative Canadian businesses to the forefront.

The full list of 2022 winners along with editorial coverage is published in the October issue of Report on Business magazine. The list is out now and online here. 

“Canada's Top Growing Companies recognizes the tremendous ambition and innovation of entrepreneurs in Canada," says Dawn Calleja, Editor of Report on Business magazine. “The next generation of Canadian businesses can draw inspiration from this ranking.” 

“In an uncertain world, the success stories of the companies marked in this year’s Report on Business magazine’s list of Top Growing Companies are a beacon of optimism,” says Phillip Crawley, Publisher and CEO of The Globe and Mail. “The Globe and Mail congratulates them on their achievements.”

Icentia Records the Largest Public Single-lead ECG Dataset of 11,000 Patients and 2 Billion Annotated Beats Using CardioSTAT

The company aims to help improve arrhythmia detection through donation of tremendous dataset gifted to the general public through PhysioNet.

Icentia released its largest public dataset to date - a record-breaking 11,000 patients’ ECG records and 2 billion beats recorded over one week . The CardioSTAT recorder was developed by Icentia, a company dedicated to improving arrhythmia detection using ECG data.

Their new dataset includes annotations of each beat type by certified technologists, such as normal beats, premature atrial contraction, and premature ventricular contraction, and rhythms such as normal sinus rhythm, atrial fibrillation, and atrial flutter.

The prevalence of arrhythmia are becoming alarmingly common, with 2.7 to 6.1 million patients in the U.S having Afib alone, with estimates of this number rising to a staggering  12.1 million by 2030.   Despite new automated methods of detecting arrhythmia using machine learning, ECG technologists and cardiologists still encounter ECG anomalies that do not fit the known arrhythmia morphology, hence the need for human expertise and intervention to compliment computer-based learning. 

 To assist medical professionals, continue to investigate these rhythm anomalies and have a dataset of raw ECG signals to compare and match them to, Icentia recorded 2 billion labeled beats from 11k patients. The data is completely anonymized, extracted from patients who wore a CardioSTAT recorder for one week on average, ensuring each patient recorded a significant and statistically sizeable number of beats and rhythms for maximum data authenticity and trustworthiness.

 To perform this ground-breaking data gathering project, Icentia utilized its’ CardioSTAT recorder, a compact, single-use and portable ECG recorder engineered to continuously monitor long term electrocardiograms.

 Once the raw data was extracted from the patients CardioSTAT recorder, Icentia's certified technologists performed annotation using their proprietary analysis tools. They thoroughly analyzed the complete record and labeled the beat and rhythm types. This final data was then reviewed and approved by a senior technologist before becoming a publicly available dataset on PhysioNet.

 Through the public availability of this data, Icentia hopes to help cardiologists and ECG specialists fight this public health challenge of arrhythmia, through early diagnosis and treatments. 

To know more about CardioSTAT, visit www.cardiostat.com or to download the 11k dataset, visit the Physionet repository at www.physionet.org

Ambulatory Cardiac Monitoring: Icentia’s CardioSTAT Reaches 100 000 Tests

Icentia, a Canadian company that specializes in medical devices, has delivered its 100 000th CardioSTAT test. For Icentia, such a milestone reflects the relevance of its ambition: Since it launched the test in 2015, it has worked to simplify rhythm rate anomaly detection for patients in Canada and the United Kingdom. As a symbolic aspect of this success, the 100 000th test was recorded with a patient at the renowned Quebec Heart and Lung Institute (IUCPQ), which has partnered with Icentia in the development of this innovation since 2013.

Designed and made in Canada, CardioSTAT is an electrocardiography (ECG) device that enables simple, long-term and high-quality recordings. Worn on the upper chest, it can produce up to 14 days of data. This can enable medical practitioners to detect heart anomalies that are generally difficult to identify, such as atrial fibrillation, which affects from 1% to 3% of the world population (up to 9% of people aged over 65 and 17% of people over 80). Discrete and comfortable, CardioSTAT is a viable alternative for patients and doctors to the conventional test (the Holter test), usually limited to 48 hours. Since the Covid-19 pandemic, patients can also implement the CardioSTAT test directly at home, avoiding hospital visits and reducing contamination risks, as well as the medical staff’s workload.

CardioSTAT is now used by hundreds of health institutions in Canada and the United Kingdom. Icentia and its 120 employees are proud of this international recognition, at a time when the company considers expanding to other countries.

Firmly positioned in a rapidly growing wearable devices industry, Icentia was part of the Globe and Mail’s top growing companies list in Canada for a third consecutive year in 2021. 

“Reaching 100 000 CardioSTAT tests is a great economic success, but especially human, as this milestone means we have helped as many patients. We are working hard to assist many more in the years to come,” says Pierre Paquet, cofounder and CEO of Icentia.

About the Quebec Heart and Lung Institute

The Quebec Heart and Lung Institute (IUCPQ) is a leader in its field. The university hospital offers care, specialized services and ultra-specialized services programs to treat cardiopulmonary diseases and illnesses linked to obesity. More specifically in the field of cardiology, the IUCPQ has the highest clinical volume in tertiary cardiology on a single site in Canada, in addition to pioneering in several other key elements, such as cardiac electrophysiology.

Icentia Named One of Globe and Mail’s Top Growing Companies in Canada for a Third Consecutive Year

Icentia, a fast-growing medtech company, secured a spot on Globe and Mail’s annual list of Canada’s Top Growing Companies, becoming one of the few companies to be listed in this ranking for a third year in a row.

Icentia placed in the first quartile of the 448 companies on the 2021 list, this time with a 524% revenue increase over the past three years.

“I am extremely proud that the success of Icentia has been recognized again this year.” says Pierre Paquet, CEO of Icentia. “Not only have we been able to get through the pandemic, but we continued to grow through it by quickly adapting our offering to the new challenges healthcare institutions are facing. This is a testament to the value we bring to the healthcare industry by listening to our clients and constantly adapting to their evolving needs.”

Launched in 2019, the Canada’s Top Growing Companies editorial ranking aims to celebrate entrepreneurial achievement in Canada by identifying and amplifying the success of growth-minded, independent businesses in Canada. It is a voluntary program; companies complete an in-depth application process to qualify. In total, 448 companies earned a spot on this year’s ranking.

 The full list of 2021 winners and accompanying editorial coverage is published in the October issue of Report on Business magazine—out now—and online.

 “As we look toward the future, Canada’s Top Growing Companies offer both inspiration and practical insights for other firms facing similar challenges,” says James Cowan, Editor of Report on Business Magazine. “The entrepreneurs behind these companies are smart, tenacious, and unwavering in their commitment to their goals.”

 “Any business leader seeking inspiration should look no further than the 448 businesses on this year’s Report on Business ranking of Canada’s Top Growing Companies,” says Phillip Crawley, Publisher and CEO of The Globe and Mail. “Their growth helps to make Canada a better place, and we are proud to bring their stories to our readers.”

Icentia wins a “Successful business strategy” award at the 41st edition of the Mercuriades contest

Icentia is proud to announce it has won a Mercure award in the “Successful business strategy” category, presented by the Quebec Chartered Professional Accountants Order. This prize is designed to reward a strategy built to maximize the business potential of a company.

Active in Canada and the United Kingdom, Icentia provides health institutions and patients with its CardioSTAT test, a new kind of miniaturized, ambulatory electrocardiogram that can detect heart rate disorders. Looking to increase the accessibility of its test, the company has built a distribution network that consists of service points throughout the whole of Quebec. This network, which now includes over 100 pharmacies and health clinics, offers high quality tests. Such access was only previously possible in highly specialized hospitals located in large urban areas.

“Winning an award in the most prestigious business contest in Quebec is a source of great pride for our entire team. We have been working passionately and devotedly for almost ten years to offer high quality tests to as many patients as possible. We are delighted to see our initiatives recognized today,” Pierre Paquet, CEO of Icentia, said.

The Icentia team congratulates all the prizewinners and finalists of the Mercuriades 2021 contest. The full list of prizewinners is available at https://mercuriades.ca/les-laureats-2021/.

About the Mercuriades! contest

Launched in 1981 by Quebec's Federation of Chambers of Commerce (FCCQ), the Mercuriades! contest has become the most prestigious business contest in Quebec. Each year, it celebrates innovation, ambition, entrepreneurship and the performance of companies in Quebec.

About Quebec's Federation of Chambers of Commerce (FCCQ)

With its extensive network of almost 140 chambers of commerce and 1,100 corporate members, the FCCQ represents more than 50,000 companies operating in all sectors of the economy, throughout all of Quebec. The FCCQ is the largest network for the business and entrepreneurial community in Quebec, and is both a federation of chambers of commerce and a provincial chamber of commerce. Its members, whether they are chambers or companies, all follow the same goal: Promoting an innovative and competitive business environment.

Home-based Heart Monitoring Now Available to All Canadians Through Icentia

Canadian company drives at-home cardiac monitoring nationwide during pandemic

Icentia Inc. will be providing a new home-based service nationwide that will enable patients with heart rhythm disorders to have access to an ambulatory cardiac test from the safety of their homes while the pandemic surges on.

Icentia enables at-home tests through its CardioSTAT® device, a Canadian designed and manufactured, proven alternative to traditional Holter monitor tests. Since its introduction in 2015, the CardioSTAT test has become the tool of choice for hundreds of physicians across Canada and the United Kingdom for the detection of heart rhythm disorders.

This inventive and life-saving solution is now being implemented nationally for at-home tests in much needed times.

As the pandemic rages on, wait times in the Canadian healthcare system are becoming a serious issue. Backlogs for all procedures, including ECG monitoring, continue to grow. Social distancing and contamination risk requirements have increased the burden on hospitals and clinics, bolstering the demand for home-based tests. “The pandemic is forcing our healthcare system to evolve and adapt. This smart and accurate cardiac monitoring technology is what Canadians need right now to stay safe and keep healthy,” explains Dr. Marko Mrkobrada, Internist, London Health Sciences Centre, London, ON.

This new home-based solution, where no visit to health care facility for hook up or device return is required, promises to lighten the load on medical staff while also increasing safety for all. “We are glad to relieve some of the pressure on our healthcare system and to contribute to more safety through our home-based, patient-initiated tests. CardioSTAT test, which has proven to be easy to use, reliable and safe over the past years, makes even more sense in today’s context,” says Icentia CEO Pierre Paquet.

Icentia Is Part Of Canada’s Top Growing Companies Ranking For The Second Year in a Row

Icentia Inc. is pleased to announce it placed No. 28 on the 2020 Report on Business ranking of Canada’s Top Growing Companies. Canada’s Top Growing Companies ranks Canadian companies on three-year revenue growth. Icentia earned its spot with three-year growth of 1,998 %.

“We are proud to be one of the "Canada’s Top Growing Companies" for the second year in a row. This is a great recognition to us of our determination to excel in the quality of our products and in the support we provide to all of our customers around the world,” explains Mr. Pierre Paquet, co-founder and CEO of Icentia. "This sustained growth is also the confirmation that Icentia has understood the needs of the market for ambulatory tests and home care, sectors for which the demand for efficient solutions is constantly increasing. ”

Launched in 2019, the Canada’s Top Growing Companies editorial ranking aims to celebrate entrepreneurial achievement in Canada by identifying and amplifying the success of growth-minded, independent businesses in Canada. It is a voluntary program; companies had to complete an in-depth application process in order to qualify. In total, 400 companies earned a spot on this year’s ranking. 

The full list of 2020 winners, and accompanying editorial coverage, is published in the October issue of Report on Business magazine—out now—and online at tgam.ca/TopGrowing.

“The stories of Canada’s Top Growing Companies are worth telling at any time, but are especially relevant in the wake of COVID-19 pandemic,” says James Cowan, Editor of Report on Business magazine. “As businesses work to rebuild the economy, their resilience and innovation make for essential reading.”

“Any business leader seeking inspiration should look no further than the 400 businesses on this year’s Report on Business ranking of Canada’s Top Growing Companies,” says Phillip Crawley, Publisher and CEO of The Globe and Mail. “Their growth helps to make Canada a better place, and we are proud to bring their stories to our readers.”

About The Globe and Mail

The Globe and Mail is Canada’s foremost news media company, leading the national discussion and causing policy change through brave and independent journalism since 1844. With award-winning coverage of business, politics and national affairs, The Globe and Mail newspaper reaches 5.9 million readers every week in print or digital formats, and Report on Business magazine reaches 2.1 million readers in print and digital every issue. The Globe and Mail’s investment in innovative data science means that as the world continues to change, so does The Globe. The Globe and Mail is owned by Woodbridge, the investment arm of the Thomson family.