EndoChoice, an Atlanta GA area-based medtech company, closed a $57m equity financing.
Backers included new investors Deerfield, Ally Bridge Group and Rock Springs Capital joined Sequoia Capital and previous investors. In conjunction with the funding, Steven Hochberg, Partner at Deerfield, will join EndoChoice’s Board of Directors as an observer.
The company intends to use the funds to continue to expand sales and marketing efforts.
Founded in 2008 by Mark Gilreath, CEO, EndoChoice focuses on the manufacturing and commercialization of platform technologies including endoscopic imaging systems, devices and infection control products and pathology services for specialists treating a wide range of gastrointestinal conditions, including colon cancer.
The company serves more than 2,500 customers in the United States and works with distribution partners in 25 countries.
Its Fuse Full Spectrum Endoscopy® platform is a system for visualization of the GI tract, and enables a wider field of view for upper and lower endoscopy procedures.