Watermark Medical, Inc., a Boca Raton, Florida-based developer of a home sleep testing (HST) platform, received a $6m equity investment from Ballast Point Ventures.
In conjunction with the financing, Ballast Point Ventures will hold a minority stake in Watermark Medical and one seat on the company’s board of directors along with CA Technologies (NASDAQ: CA), which led the round with a $15m investment in June this year.
Watermark Medical will use the funds to further deploy its SaaS-based system for the sleep-disordered breathing market. The platform allows medical practitioners to manage, aggregate and access critical diagnostic and historical patient information.
The company’s product, the Watermark ARES, is currently distributed through PSS Medical (NASDAQ:PSSI), McKesson Corporation (NYSE: MCK) and Henry Schein (NASDAQ: HSIC).