Corindus Raises $12 Million

Corindus Inc., a maker of robotic systems that support the treatment of coronary artery and peripheral vascular disease, has raised $12 million in Series B funding from 20/20 HealthCare Partners. Corindus has offices in Auburndale, Mass. and Israel.

 

PRESS RELEASE

20/20 HealthCare Partners LLC is pleased to announce that its portfolio company, Corindus, Inc., closed a B Round investment taken solely by a New York based hedge fund / private equity fund specializing in the healthcare industry. Corindus will use the financing to enhance its management structure, complete product development and obtain regulatory approvals in the US and Europe.

The initial funding round led by 20/20 HealthCare Partners in September 2005 enabled Corindus to progress from an early stage company through development of a sophisticated, fully functional robotic catheterization system for the CathLab.

20/20 HCP Managing Partner, Hillel Bachrach says, 20/20 HCP had the early vision of the tremendous potential impact this technology would have on the delivery of consistent quality in the CathLab at an ever safer environment to the doctor and patient; realizing the potential led to 20/20 HCP funding the A round.

About 20/20 HealthCare Partners LLC

20/20 HealthCare Partners LLC provides equity financing for promising growth businesses as well as for buyouts or recapitalizations of established companies specializing in the Medical Technology industry.

20/20 HealthCare Partners works with management to streamline product development, regulatory approval and market penetration. Their group of industry experienced professionals is able to introduce portfolio companies to strategic partnerships. Their relationships help expedite the product development cycle and shorten the time to market