SonaCare Medical, a Charlotte, NC-based developer and manufacturer of high intensity focused ultrasound (HIFU) technologies, received $3m in growth financing.
Palo Alto-based Decathlon Capital Partners provided the financial resources.
The capital will fund sales initiatives following the Medicare C-Code approval, which went into effect on July 1.
Founded in 2004 by chairman Stephen Puckett and led by CEO Mark Carol, SonaCare is committed to developing a minimally-invasive HIFU prostate tissue ablation. With its subsidiary Focus Surgery, Inc., it designs and manufactures medical devices, including the following:
– Sonablate®, which has 510(K) clearance in the U.S.;
– Sonablate® 500, which has CE Marking and has obtained regulatory authorization in more than 50 countries outside the U.S.;
– Sonatherm® laparoscopic HIFU surgical ablation system, which has 510(K) clearance in the U.S., has CE Marking and has obtained regulatory authorization in more than 30 countries outside the U.S.