Participated · Equity · Jul 2020

Roundtrip operates an online and mobile digital transportation marketplace that connects care coordinators, social workers, nurses and other transport requestors with non-emergency medical transportation providers. Its platform supports all levels of transport — medical cars, wheelchair vans, stretcher vehicles, ALS/BLS ambulances — across all payers and delivers trips when and where needed. Founded in 2016 and led by CEO and founder Mark Switaj, the company has built partnerships in over 40 states and is used across the healthcare landscape. Clients include health systems such as Lifespan Health and the National Institutes of Health, and payers including Community Health Plan of Washington and Contra Costa Health Plan. Roundtrip completed a $4M strategic funding round that brought total financing to date to $10.5M. The company plans to use the proceeds to geographically scale and specialize its sales, implementation and account-management model, expand its health-plan portfolio and technology integrations, and grow the Roundtrip Community marketplace. Roundtrip provides patient ride-ordering software that makes available a community of ride providers who complete non-emergency medical transports for healthcare personnel such as care coordinators, social workers and nurses. Its platform supports all levels of transport, including Lyft, facility-owned vehicles, volunteer drivers, medical cars, wheelchair vans, stretcher vehicles and ALS/BLS/SCT, and works with all payors. The company has built partnerships spanning over 20 states and operates from Philadelphia, PA and Richmond, VA. Founded in 2016, Roundtrip employs 26 people and is actively recruiting to support growth. The company intends to use its recent funding to enhance software capabilities and to attract sales, engineering and account management talent. Management plans to more than double the team as part of its growth strategy. RoundTrip operates a technology platform that connects patients to a slate of medical-transportation providers, including ambulances and specialty wheelchair-accessible vehicles, and handles billing for multiple payers within the same system. The company currently offers services in 15 states across the Northeast and plans to expand that footprint, with the CEO projecting a possible doubling of states over the next one to two years. RoundTrip employs the equivalent of 19 full-time staff at its WeWork Northern Liberties location and aims to grow that to 24 within three months; the recent capital raise is earmarked for expanding sales, marketing and engineering teams. Product development priorities include building additional features such as pharmacy stops after doctor appointments to create more patient value. The platform is positioned to integrate different vehicle types and payer sources to simplify recurring medical-transport needs, such as frequent chemotherapy trips. The company was founded to address transportation barriers that impede patient care, and management said the new funding will support both geographic expansion and technology build-out.

Participated · Series D · Dec 2019

Impulse Dynamics builds and commercializes the Optimizer platform, a cardiac contractility modulation (CCM) device designed to improve the quality of life for heart-failure (HF) patients who have limited therapeutic options. Led by CEO Jason Spees, the company focuses on both commercial rollout and continued clinical validation of its technology. More than 12,000 patients have already received CCM therapy across clinical trials and real-world settings, with data demonstrating safety and efficacy for HF patients suffering debilitating symptoms. Current initiatives include the INTEGRA-D multicenter study evaluating the CCM-D HF System and the AIM HIGHer trial. The newly secured capital will be directed toward accelerating commercialization, advancing its future product pipeline, and supporting ongoing clinical trials. The company positions itself as a specialized player tackling unmet needs in the large and growing HF market.

Led · Equity · Dec 2017

Respicardia develops the remedē® transvenous implantable neurostimulation system to treat moderate to severe central sleep apnea (CSA) in adult patients. The remedē system stimulates the phrenic nerve and engages the diaphragm to restore a normal breathing pattern during sleep. The system received U.S. Food and Drug Administration (FDA) approval in October 2017 and is commencing market release in the United States. Led by President and CEO Bonnie Labosky, the company intends to use the financing to fund U.S. commercialization efforts and to support ongoing development of the remedē system. The company is privately held and advancing clinical and commercial efforts around its approved device. Respicardia is developing the remedē System, a fully implantable stimulation device designed to restore a more natural breathing pattern during sleep for patients with central sleep apnea. The company is in the clinical trial phase and is using the device to address respiratory rhythm management and related cardiovascular risk, including ventricular arrhythmias. Respicardia closed a $6 million senior secured credit facility to provide working capital for completion of its pilot study. Ares Capital served as lead agent on that facility. The company is backed by five life‑sciences venture firms: Three Arch Partners, Versant Ventures, Polaris Ventures Partners, Accuitive Medical Ventures and Affinity Capital Management. Founded in 2006 and headquartered near Minneapolis, Minnesota, Respicardia is focused on advancing its clinical program and completing its pilot study. Cardiac Concepts is developing the RespiCardia System, a pacemaker-like pulse generator implanted beneath the skin near the collarbone that delivers small electrical impulses to the nerve controlling the diaphragm. The company is focused on central sleep apnea (CSA), a condition in which the brain fails to send proper signals to breathing muscles and that the article notes accounts for less than five percent of all sleep apneas. Cardiac Concepts is marketing the device specifically for patients suffering from heart failure, citing CSA’s potential to worsen heart failure and increase mortality. Last month the company enrolled the first 40 patients in a pilot clinical trial that will be conducted around the world, including Europe and the United States. Financially, the company reported a $27.2 million raise from the sale of equity in filings with the U.S. Securities and Exchange Commission. The company is based in Minnetonka, Minnesota.