TechDogs-"Flosonics Medical Secures $20 Million USD In Series C Funding Led By New Leaf Venture Partners To Accelerate Growth"

Health Care Technology

Flosonics Medical Secures $20 Million USD In Series C Funding Led By New Leaf Venture Partners To Accelerate Growth

By Business Wire

Business Wire
Overall Rating

SUDBURY, Ontario--(BUSINESS WIRE)--#flopatch--Flosonics Medical, a leader in wearable medical ultrasound, today announced its Series C financing, raising $20 million USD. The round was led by New Leaf Venture Partners, with participation from previous investors Arboretum Ventures, Genesys Capital, and iGan Partners. This new funding will support Flosonics as the company continues to innovate and drive market adoption of FloPatch, a first-in-class wearable Doppler ultrasound for hemodynamic assessments.

Vijay Lathi, an experienced MedTech investor with a focus on data convergence and guiding growth-stage companies, will join Flosonics Medical’s board of directors. “We are thrilled to have New Leaf Venture Partners lead our Series C round and welcome Vijay Lathi to our board,” said Joe Eibl, CEO of Flosonics Medical. “This investment not only validates our past successes but also enables us to accelerate our plans for expansion and innovation. We are committed to leveraging this funding to further enhance the standard of care for critically ill patients with FloPatch and expand our reach into new markets.”

On behalf of New Leaf Venture Partners, Vijay Lathi expressed enthusiasm about the partnership: “Our investment into Flosonics is driven by the clear and significant impact their technology will have on patients in critical situations, and the quality of the team behind it. Flosonics Medical stands at the forefront of wearable ultrasound, and we look forward to contributing to their continued success.”

Flosonics Medical plans to use the Series C investment to accelerate commercial growth, expand indications for use, and continue evidence generation. The company aims to address the growing demand for wearable AI-assisted sensors to improve patient management inside and outside the hospital.

About: Flosonics Medical is a Canadian medical device company engaged in the research and development of innovative ultrasound technology. Founded in 2015, the company’s mission is to improve patient care and the practice of medicine through technology-enabled solutions and ground-breaking clinical research.

About New Leaf Venture Partners: New Leaf Venture Partners is a leader in healthcare technology venture investing. Our investment professionals bring a unique blend of technical, operational, and clinical experience to our investments, working closely with our entrepreneurs and management teams to help build successful companies. New Leaf Ventures invests in both healthcare-related information technology companies as well as public and private biopharmaceutical companies as well as. New Leaf currently manages over $500 million in assets through several funds. New Leaf was formed in 2005 as the healthcare spinoff from the Sprout Group, one of the oldest U.S. venture capital funds. For more information please visit www.nlvpartners.com.

Contacts

For media inquiries: rgibson@flosonicsmedical.com.

First published on Wed, Mar 20, 2024

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