Flosonics Medical, a Susbury, Ontario, Canada-based medical device company focused on non-invasive hemodynamic monitoring, closed a $14m USD funding round.
The round was led by Arboretum Ventures with participation from existing investors iGan Partners and Genesys Capital. In conjunction with the funding, Dan Kidle, Partner at Arboretum Ventures, will join the board of directors.
The company intends to use the funds for commercial launch in North America and new product development.
Led by Dr. Joe Eibl, CEO and Co-Founder, and Dr. Jon-Emile Kenny, Chief Medical Officer, Flosonics Medical is developing non-invasive wireless sensors to improve the management of critically ill patients. The company’s core technology, FloPatch, is a wearable Doppler ultrasound sensor that adheres to a patient’s neck. FloPatch provides hands-free blood flow assessments during clinical interventions by sending data wirelessly to mobile devices using low energy Bluetooth.
FloPatch blood flow assessments can provide important clinical insight for patients in the emergency department, operating room, general medical floor and intensive care unit. The company’s first product, the FloPatch FP 120, recently received regulatory clearances from FDA and Health Canada.
Founded in 2015, the company employs over 20 employees engaged in the research and development of its current technology.