Cheetah Medical, a worldwide leader in noninvasive hemodynamic and cardiac output monitoring technology, announced today the closing of a $20 million financing round. The financing was led by Ascension Health Ventures (AHV) and also included Robert Bosch Venture Capital (RBVC), MVM Life Science Partners (MVM) and existing investors.
"We are very excited by the level of support provided by Cheetah's distinguished new investors, who share our vision for the extraordinary potential of the NICOM platform," commented Yoav Avidor, M.D., Chief Executive Officer of Cheetah Medical. "By providing accurate, noninvasive, continuous hemodynamic information, NICOM can improve patient outcomes by helping clinicians optimize fluid and vasoactive drug management in areas such as critical care, anesthesia, emergency medicine and heart failure. Patients worldwide are already benefiting from the NICOM platform, and the support of our investors enables continued expansion to new clinicians, applications and global markets."
As a result of the financing, Dr. Walter Lin, an Investment Manager with AHV, Gadi Toren, Venture Capital Investment Partner with RBVC, and Dr. Stephen Reeders, a Managing Partner with MVM, have joined the company's board.
"Because of its accuracy and non-invasiveness, Cheetah's NICOM platform has the potential to significantly expand the hemodynamic monitoring market," said Dr. Walter Lin of AHV. "We are excited to partner with a company whose validated technology can both improve outcomes and reduce the cost of care in what is generally a high acuity patient population."
Decisions regarding appropriate fluid administration and titration of drugs that support the cardiovascular system have a profound impact on patient survival, complications and cost of care. These concepts, also known as fluid optimization and goal directed therapy, are increasingly becoming standard of care. This is especially true in those who are critically ill, such as patients with sepsis, heart failure, kidney failure, and trauma, or those undergoing major surgical procedures.
NICOM provides a simple to use platform that enables physicians and nurses to quickly obtain accurate advanced hemodynamic parameters at the bedside, thereby aiding in differential diagnosis and selection and titration of the appropriate therapy to individualize patient care. Legacy approaches that rely on invasive, costly catheters have more limited use due to concerns about cost, maintenance requirements, invasiveness and potential complications. NICOM provides accurate hemodynamic information through a safe, cost-effective, user-friendly platform that can be utilized by physicians, nurses and other clinicians.
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