Polaris Partners and Fidelity Biosciences have invested $10 million in Novaerus, which works on infection prevention products for nursing homes and assisted living facilities in the U.S. and Europe. Novaerus received a previous investment from Oyster Capital Partners, which will continue to be the majority shareholder in the company.
Novaerus, a company that improves the business and quality of healthcare through the application of plasma-based, airborne pathogen control technology, announced the successful completion of funding from two industry-leading healthcare investors – Polaris Partners and Fidelity Biosciences. The $10 million raise represents a key milestone in the company’s history and future growth. Novaerus received a previous investment from Oyster Capital Partners, an Ireland-based, global company which invests in information technology, healthcare and energy technology. Oyster will continue to remain the majority shareholder in Novaerus following this financing.
“Both Polaris Partners and Fidelity Biosciences are leading professional investment firms in the fields of biopharmaceuticals, medical technology and healthcare IT and services. The fact that Novaerus has secured funding from both parties is a testament to our company, our people and the scale of the business opportunity we have before us,” said Bill McCabe, chairman and chief executive officer of Novaerus. “This investment will allow us to capture greater share in the long-term care market, while also establishing our position in adjacent healthcare markets.”
Proceeds from this latest round of financing allow Novaerus to continue to focus on its core business as well as to further its excellence in other areas: development and innovation of its product offerings, expansion of sales and marketing initiatives, and the opportunity to drive incremental growth and market share.
“Novaerus faces an outstanding business opportunity and has a very talented management team, strong infrastructure and solid business model,” Brian Chee, managing partner at Polaris, said. “We have confidence in the company’s ability to scale and significantly impact the healthcare market, and are excited to work together as partners to deliver a platform that makes a difference in the care of patients and providers on a global basis.”
“Infection control is a critical issue facing the senior care market,” said Jon Lim, principal at Fidelity Biosciences. “Novaerus’ breakthrough technology is a unique and compelling solution to reduce airborne pathogens and keep medical costs down in these facilities.”
Novaerus completes the infection prevention loop with its airborne pathogen control technology, which is deployed in hundreds of skilled nursing and assisted living facilities across North America and Europe. Novaerus’ unique air sterilization technology uses a patented plasma barrier to help reduce the presence of airborne bacteria, pathogens, mold, allergens and odors, and has been proven effective against even the most harmful contaminants including MRSA, C-diff, Norovirus and influenza. Providing residents and staff with a cleaner, healthier environment the Novaerus technology helps facilities realize measurable financial and clinical benefits, including the ability to lower spending associated with airborne illnesses, decrease resulting hospital readmissions rates, and protect and drive census. For more information, visit www.novaerus.com.
Polaris Partners invests in exceptional technology and healthcare companies across all stages of their lifecycles. With offices in Boston, San Francisco, and Dublin, we partner globally with an unparalleled network of repeat entrepreneurs, top scientists and emerging innovators who are making a significant impact in their fields and improving the way in which we live and work. For more information please visit: www.polarispartners.com.
About Fidelity Biosciences
Fidelity Biosciences invests venture capital in biopharmaceutical, medical technology, healthcare information technology and healthcare service companies. The firm is a subsidiary of FMR LLC, the parent company of Fidelity Investments, one of the world’s leading providers of financial services. For more than 40 years, Fidelity has been a significant presence in the venture capital and private equity industry. For more information, please visit: www.fidelitybiosciences.com.