Pinnacle Medical Solutions, Inc., a Southaven, Mississippi-based distributor of insulin pumps and blood glucose monitoring supplies, has received a “substantial” equity investment from several investors.
The round, whose amount was not disclosed, was led by Meritus Ventures, L.P., with participation from smaller institutional investors and individual investors, including one of a co-founder of the company.
The company intends to use the funding to add key management team members, to expand its sales force, to diversify its product offering, and to establish relationships with an expanded array of managed care companies.
Established in 2006 by Frank Brumfield, Pinnacle Medical Solutions provides its home delivery services through Mississippi, Alabama, Tennessee, Arkansas, Louisiana, and Georgia.
In conjunction with the funding, Grady Vanderhoofven, Fund Manager of Meritus Ventures, as joined the company’s Board of Directors as new Chairman.