Signostics Inc., a U.S. and Australia-based medical device company developing palm-sized ultrasound devices, has raised $5m in an oversubscribed round of financing from new and existing investors.
The company has raised a total of $19m to date.
Signostics is developing Signos, a handheld ultrasound device designed for point-of-care use by medical practitioners and veterinarians. It can be used for quick applications such as bladder exams, foreign body assessments, fluid localization, pregnancy evaluations and screenings for abdominal aortic aneurysms (AAAs).
The additional capital will help the company to expand in key target segments.
Signostics launched its first product into the veterinarian market in January 2009 and gained regulatory approvals to enter the human medical device market for the United States, Europe, and Australia in May 2009.
Established in Adelaide, Australia, in 2005, the company also operates offices in Palo Alto, California.