OrthoScan Raises $7.5 Million

Orthoscan Inc, a Scottsdale, Ariz.-based medical device company, has received $7.5 million in Series B funding led by River Cities Capital Funds, and including investments from Aphelion Capital, California Technology Ventures and private individuals.

Press Release:

SCOTTSDALE, Ariz., Oct 08, 2008 (BUSINESS WIRE) — OrthoScan, Inc., a privately held medical device company based in Scottsdale, Arizona announced today that it has closed a $7.5 million Series B financing led by River Cities Capital Funds (“RCCF”). Additional participants include existing investors Aphelion Capital, California Technology Ventures and a group of accredited private individuals.
Carter McNabb, Managing Director of RCCF has joined OrthoScan’s Board in connection with the financing.
“This round of financing will provide us with the resources necessary to further expand our sales distribution in the US and abroad,” said Rob Morocco, OrthoScan’s Chief Operating Officer. “Additionally, we will continue to improve the design and performance of our Mini-C Arm product as well as develop fluoroscopic imaging products which will allow us to expand our customer base.”
About OrthoScan, Inc.:
Based in Scottsdale, Arizona, OrthoScan is a privately held medical device company providing state of the art imaging with a focus on Orthopaedics. OrthoScan’s Mini C-Arm is used for fluoroscopic imaging of the extremities in Orthopaedic surgery and digital diagnostic imaging. The Company’s smaller and lighter weight Mini C-Arm provides superior adjustment-free image quality to healthcare professionals. For more information, visit www.orthoscan.com.
About River Cities Capital Funds:
Formed in 1994, River Cities manages approximately $400MM in multiple funds from offices in Cincinnati, OH and Raleigh, NC. Investments focus primarily on expansion stage healthcare and technology companies. The team brings to bear a broad range of functional expertise cultivated in prior careers in consulting, engineering, operations, investment banking, law and accounting. River Cities seeks to partner with exceptional management teams to build lasting companies based on sound business economics and market leadership potential.