Monteris Medical, a Minnetonka, MN-based private medical technology company, raised $73m in financing including $35m in new Series D equity and a $38m debt facility.
The Series D round was led by InnovaHealth Partners, with participation from Birchview Capital. The debt facility, led by Madryn Asset Management, extended $28m at closing, with the option to draw an additional $10m upon the achievement of certain milestones.
The company intends to use the funds to support market adoption, clinical research and technology programs and refinance its current obligation.
Led by Martin J. Emerson, president and chief executive officer, Monteris Medical develops and markets MR-guided ablation systems to perform minimally invasive, robotically controlled brain surgery, commonly referred to as laser ablation, LITT (Laser Interstitial Thermal Therapy) or SLA (Stereotactic Laser Ablation). The Monteris NeuroBlate System is an MR-guided laser ablation system that allows for a minimally invasive surgical alternative to open craniotomies. The system is currently installed in more than 100 hospitals in the United States and Canada and is actively used in minimally invasive treatment approaches for patients with drug-resistant epilepsy, primary and metastatic brain tumors, and radiation necrosis.
FinSMEs
28/10/2022