Canadian company Flosonics Medical has raised C$7.5m ($5.18m) in venture debt financing from financial solutions provider RBCx to expedite the market adoption of the wireless wearable Doppler ultrasound device, FloPatch.
The funds will expedite the company’s development of data-driven, non-invasive solutions designed to enhance patient outcomes in critical care settings, particularly for those suffering from sepsis.
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FloPatch enables quick haemodynamic evaluations to gauge the patient’s fluid responsiveness. This device aids healthcare providers to optimise sepsis care and minimise fluid-related complications.
Through a “user-friendly” interface, the FloPatch app offers a real-time arterial blood velocity trace and an analytics engine that provides haemodynamic metrics.
The tech and innovation banking arm of Royal Bank of Canada, RBCx offers debt financing to pre-revenue, venture-backed life sciences companies, supporting them through various stages of growth.
Anne Woods, managing director of RBCx’s national Life Sciences practice, leads the team providing tailored financing and strategic expertise to foster the next generation of healthcare companies.
Woods said: “We’re proud to back the scaling ambitions of companies like Flosonics Medical with the capital they need to improve patient care through bold innovations like FloPatch.”
Flosonics Medical CEO and co-founder Joe Eibl said: “We’re thrilled to be working with RBCx as we bring FloPatch to more hospitals across North America and beyond.
“This financing allows us to accelerate our mission of equipping healthcare providers with the tools they need to deliver the highest quality of care possible while improving operational efficiencies in hospitals.”
Flosonics Medical focuses on ultrasound technology’s research and development, aiming to enhance patient care and medical practice via technological solutions and clinical research.
