TheraSim, Inc., a Durham, NC-based simulation-training company dedicated to providing online tools and solutions to reduce performance errors in healthcare and clinical research, completed a $1.25m round of equity financing from UK-based Andromeda Capital.
As stated by TheraSim CEO, David Hadden, the investment will help the company to fuel the market expansion of its clinical simulation products. TheraSim both predicts and prevents errors in the application of medical treatment and enables healthcare professionals to more rapidly assimilate new information to make more effective clinical decisions. “With this investment, you will see a lot more of TheraSim products in medical universities, hospitals and in support of clinical trials,”, Hadden added.
Commenting on the funding, Gordon Cervenka, TheraSim’s CFO, was reported as saying: “This investment combined with our current revenue stream positions us for continued growth in what is an exciting and emerging market opportunity”.
In conjunction with the funding, Glenn Woodcock of Andromeda will join TheraSim’s Board of Directors.