• Svelte Medical Systems

  Led · Equity · Mar 2015

  Svelte Medical Systems develops drug-eluting coronary stent delivery platforms, including a stent-on-a-wire Integrated Delivery System (IDS) and Rapid-Exchange (RX) platforms. The IDS incorporates Asahi wire tip technology and is designed to optimize transradial (wrist) interventions using a ‘slender’ approach to percutaneous coronary intervention. Svelte says its IDS has the lowest-crimped stent profile on the market, enabling physicians to downsize catheter sizes during procedures. The company plans to commercialize the IDS and RX platforms in Europe in the second half of 2015. Svelte is privately held and headquartered in New Providence, New Jersey. Recent financing will support ongoing operations, infrastructure expansion, and commercialization efforts. Svelte Medical Systems develops highly deliverable balloon-expandable drug-eluting coronary stents and integrated delivery systems. Its core products are the Integrated Delivery System (IDS) and Rapid-Exchange (RX) platforms, which combine wire, balloon and stent into an all-in-one system to reduce procedural steps, contrast use, fluoroscopy time, and adjunctive product costs. The platforms use low-compliant balloon material and proprietary Balloon Control Bands, and employ a bioresorbable drug carrier composed of naturally-occurring amino acids (PEAs) that is resorbed over approximately nine months via enzymolysis to reduce inflammatory response versus PLGA technologies. The company reported 0% clinically-driven MACE in its first-in-man drug-eluting stent study through 20 months. Results from the randomized, controlled DIRECT II study evaluating the IDS to support CE Mark certification will be available later this year. Headquartered in New Providence, New Jersey, Svelte is using recent capital to accelerate regulatory approvals in the U.S. and Japan, enhance operational efficiencies, and augment commercial preparation. Svelte Medical Systems develops low-profile, balloon-expandable drug-eluting coronary stent platforms including a fixed-wire Integrated Delivery System (IDS) and a conventional rapid-exchange (RX) system. Both platforms incorporate the company’s specialized low-compliant balloon with Balloon Control Bands and a high-pressure design intended to facilitate direct stenting and reduce procedure time. Its drug coating uses a bioabsorbable amino-acid-based carrier (PEAs) absorbed over approximately nine months via enzymolysis, which the company says reduces inflammatory response compared with PLGA-based coatings. The company plans commercialization of the IDS and RX platforms in Europe in early 2015 and expects results from the randomized, controlled DIRECT II study next year. Financially, Svelte closed approximately $22 million of new private financing in the latest round, bringing total invested capital to about $65 million since the company’s 2007 founding. Proceeds from the round will be used to complete the DIRECT II study, prepare for European commercialization of IDS and RX, and expand overall operational infrastructure. Headquartered in New Providence, New Jersey, Svelte is positioned to advance its clinical and commercialization milestones with the new capital. Svelte Medical Systems develops the Acrobat drug-eluting stent, now advancing a second-generation design with a low-thrombogenic surface and a dissolving drug coating intended to reduce clotting and inflammatory reactions. The company plans to initiate clinical trials for the new stent in New Zealand, Europe and South America this year and is already conducting a 30-patient trial in New Zealand. The original Acrobat received CE mark approval in Europe in 2010. Svelte has raised about $25 million in debt and equity since December and reported an additional $8 million in new investment in recent Form D filings. The company was founded by serial entrepreneurs Robert Fischell and his sons David and Tim, and is led by CEO Mark Pomeranz, a veteran of Cordis Cardiology at Johnson & Johnson. Svelte plans to expand into the peripheral artery stent market and intends to compete with large medtech firms while navigating a challenging fundraising climate for medical device companies. Svelte Medical Systems develops the Acrobat all-in-one stent system for cardiac procedures. Its first-generation Acrobat received a CE mark in the European Union last year. The company raised $17 million in a Series B round—just under half of a $37 million target—to advance its first- and second-generation stents. Management says the second-generation device will be a drug-eluting version, and the Series B proceeds are intended to support pivotal CE mark trials for that device, expand sales and marketing in Europe, and initiate U.S. clinical trials. Svelte was founded in 2007 in New Providence, New Jersey by serial entrepreneurs Robert Fischell and his sons David and Tim; Mark Pomeranz is CEO. The company plans future expansion into lower-extremity and neurovascular applications and positions Acrobat as a procedure-simplifying technology that reduces steps, costs, and radiation exposure compared with existing approaches. It faces competition from large incumbents including Medtronic, Abbott Laboratories, and Boston Scientific.

• Airstrip Technologies

  Led · Equity · Aug 2014

  AirStrip delivers data-driven, actionable insights that help clinicians improve patient outcomes and operational efficiency through its clinical surveillance, decision support, patient monitoring, and alarm management platform. The company’s software is already deployed in more than 675 hospitals and health systems across the United States, demonstrating meaningful market penetration. AirStrip’s technology aggregates and analyzes real-time patient data, surfacing critical information to care teams at the point of need. Management plans to use newly raised capital to accelerate growth as demand for its solutions rises, with a focus on expanding product capabilities and scaling commercial operations. Although precise revenue figures were not disclosed, the breadth of its hospital footprint suggests a sizable recurring customer base and a pathway to further expansion.

• Reflexion Health

  Led · Series A · Mar 2014

  Reflexion Health is advancing VERA™, a prescription digital medicine platform that combines rehabilitation exercise programs with an animated avatar coach and a 3D imaging system for measuring movement and form. The platform also includes functional assessments, a clinician dashboard for offline review, automatic report generation and telemedicine capability. The company plans to use the new financing to complete a clinico-economic evaluation of VERA™, expand its suite of digital medicine product offerings and scale nationally across US healthcare systems. Reflexion is working with physicians and physical therapists to expand use of the system for patients planning for and recovering from joint replacement surgery. The company recently raised $18M in a Series B to support those initiatives. Reflexion is led by President and CEO Joseph (Joe) Smith, MD, PhD, and is based in San Diego, CA. Reflexion Health is a San Diego, CA-based provider of digital medicine software led by co-founder and CEO Spencer Hutchins. The company develops Vera, a software platform for rehabilitation medicine that incorporates an interactive and entertaining patient interface to motivate patients to do their physical exercises at home. Vera is currently in pilot studies at the Center for Connected Health, a division of Partners HealthCare in Boston, MA, and at Rady Children’s Hospital in San Diego, CA. Reflexion intends to use the new funding to develop its engineering, product development and customer support teams. It also plans to continue to complete research studies with the proceeds. The company raised $7.5m in Series A funding from the Gary and Mary West Health Investment Fund.

• Change Healthcare

  Participated · Series D · Aug 2013

  Change Healthcare provides healthcare cost transparency and consumer engagement solutions that help consumers understand and utilize their healthcare benefits. The company serves a national client base of health plans and employers covering all 50 states. Established in 2007 and led by president and CEO Doug Ghertner, Change Healthcare is based in Brentwood, TN. The company closed a $15M financing to support growth. It intends to use the funds to expand sales and marketing efforts and accelerate product development. Its core products are designed to enable consumers to make informed healthcare purchasing decisions. Change Healthcare develops healthcare cost-transparency software, including its Transparency Messenger™ tool, and focuses on improving price visibility for stakeholders. The company completed a second closing of its Series C round, bringing the Series C total to $9.3M. Backers in the latest tranche include BlueCross BlueShield Venture Partners (BCBSVP) and Sandbox Industries, joining Mitsui & Co. Global Investment, Inc., the West Health Investment Fund, LLC, and existing investor Solidus Co. Solidus Co. invested in an initial closing in September 2011. Change Healthcare says it will use the funds to continue enhancing Transparency Messenger™. The company was founded in 2007 and is led by Chairman and CEO Howard McLure. Change:healthcare is a Nashville, Tenn.-based provider of Web-based health information. The company operates two “health 2.0” websites intended to help individuals better navigate the healthcare system. Its sites include FindYourDoc.com, a searchable database of doctors and hospitals, and MedBillManager, a fee-based service that helps individuals and families manage medical bills and insurance statements. The company raised $1 million in a first funding round. The investment firm Solidus, also based in Nashville, provided the cash. There was no formal release; the Nashville Business Journal reported the funding.

• Sotera Wireless

  Participated · Equity · Feb 2013

  Sotera Wireless develops and sells ViSi Mobile, a body-worn, wireless vital-signs monitoring system designed for continuous 'monitoring in motion.' The platform captures all vital signs with the intent to keep clinicians connected to patients in bed, out of bed, or during transport. Sotera positions ViSi Mobile as a way to enable real-time monitoring of entire hospital populations and to address gaps where many U.S. hospital beds are not continuously monitored. The company intends to use recent financing proceeds to build out its sales network and channel distribution partners, accelerate commercialization and clinical development, and expand availability to hospitals across the United States. Management emphasizes the potential to reduce avoidable deaths, lower healthcare spending, and support complementary products built on Sotera’s proprietary technology. The company is headquartered in San Diego, California. Sotera Wireless, based in San Diego, has developed the ViSi Mobile System, a wearable platform designed to continuously monitor all vital signs and detect early signs of clinical deterioration. The company submitted its first 510(k) application for U.S. marketing clearance of the ViSi Mobile System to the U.S. Food and Drug Administration in August 2011, and that submission is under review. Leadership includes CEO Tom Watlington and President and CSO Matt Banet, Ph.D. Sotera plans to use new funding to support the global launch and commercialization of the ViSi Mobile System following regulatory clearance. The product positioning emphasizes continuous, multi‑vital monitoring for earlier detection of patient decline. The company completed a Series D financing to fund next steps toward commercialization. Sotera Wireless is a San Diego, CA–based medical device developer and supplier of a new generation of comprehensive vital-signs monitoring. Its core product is ViSi Mobile, a monitoring platform for continuous vital-signs surveillance. The company completed a $10.75M strategic financing to advance commercialization of ViSi Mobile. The round is described as a Series C and was led by West Family Holdings. Existing investors Sanderling Ventures, Qualcomm Ventures and Intel Capital also participated. The company said it will use the new funds to further efforts aimed at commercializing ViSi Mobile.

No current team members are available.