Watermark Medical, Inc., a Boca Raton, Florida-based medical products and services company servicing the sleep-disordered breathing market, closed a $15m equity financing from CA Technologies (NASDAQ: CA).
CA Technologies will hold a minority stake in Watermark Medical and two seats on the company’s board of directors.
The investment will allow Watermark Medical to further develop its existing technology, which currently allows medical practitioners to access, manage, and aggregate critical diagnostic and historical patient information.
As stated by Jacob Lamm, Executive Vice President of Strategy and Corporate Development at CA Technologies, the two companies will “develop innovative solutions for cloud-connected healthcare”.
Watermark Medical’s flagship product, the Watermark ARES (Apnea Risk Evaluation System) is a FDA-cleared wireless ambulatory sleep test device that provides medical practitioners with a tool to diagnose patients who may suffer from Obstructive Sleep Apnea (OSA).