Tag: funding

PHOENIX - Vantage Mobility International has reached an agreement in principle with its investors and financial lenders to accept a new round of funding designed to strengthen the company's balance sheet and accelerate the growth of its business. As part of the deal, VMI will receive a “meaningful cash infusion” that will be used to invest in growth. “I am delighted to announce this news, which will help VMI realize its vision of improving the customer experience of renting, leasing,...

SAN CARLOS, Calif. - WHILL, which launched the Model Ci in the U.S. in January, has secured $45 million in funding led by investors SBI Investment Co., Daiwa PI Partners Co. and Daiwa Corporate Investment Co., and WHIZ Partners, as well as Endeavor Catalyst and others. This funding brings WHILL's total funding to about $80 million. WHILL, expanded sales into the U.K. and Italy in July, following its expansion into Canada earlier this year, will use the funding to further broaden its geographic footprint...

NEW YORK ­- Parachute Health has attracted $9.5 million in new funding to expand its e-prescribing platform into key markets across the United States. Parachute provides a seamless, all-digital solution for ordering home medical equipment and services after patients are discharged from hospitals. The new funding was led by Harley Miller and Dan Ahrens of Insight Venture Partners, and includes investment from GNYHA Ventures, the business arm of the Greater New York Hospital Association, and Anthony...

NEW YORK - Healthcare technology platform Parachute Health has raised $5.5 million on its mission to kill the fax machine for DME orders.The company offers a standalone cloud-based website and an app in Epic's “App Orchard” that digitizes the process of determining insurance coverage, selecting providers, and sending and tracking orders for DME.“The end goal for Parachute is to solve this problem for patients of not getting the equipment they need when they need it,” said...

NEW YORK - DME technology platform Parachute Health has raised $5.5 million to expand nationwide. The company integrates directly with Epic and other widely used electronic medical record software programs to create a completely digital prescription ordering process for DME based on machine learning technology that ensures compliance with ever-changing insurance requirements. “Despite decades of advancement across industries, healthcare still relies on the fax machine,” said CEO David...

MINNETONKA, Minn. - The makers of a transvenous implantable neurostimulation system for treating central sleep apnea have received $58.5 million in financing. The financing for Respicardia and its remed? System was led by ZOLL Medical Corp., a manufacturer of medical devices and related software solutions. "We believe the remed? System will soon become the treatment of choice for patients suffering from central sleep apnea," stated Bonnie Labosky, president and CEO of Respicardia. "Proceeds from...

LOS ANGELES - Metamason, the company behind a 3-D scanned and printed customized CPAP mask, has closed on a $3 million Series Seed financing round. The investment was led by 3P Equity Partners, a manufacturing-focused private equity firm in San Jose, Calif., and Tsing Capital, a leading “cleantech” venture capital firm in China. “We are thrilled to reach this important milestone for the company,” said CEO Leslie Oliver Karpas. “Our investors are confident that Metamason...

ALEXANDRIA, Va. - Oxford Finance has served as a co-lender and documentation agent for the closing of a $35 million term loan and a $15 million revolving line of credit for Superior Biologics, a home infusion and specialty pharmacy provider. Hawthorne, N.Y.-based Superior Biologics will use the funds to support a recapitalization and refinancing of existing debt. The provider services the tri-state area of New York, New Jersey and Connecticut. Oxford Finance is a specialty finance firm that provides...

GLENDALE, Ariz. - PMDRX has been named one of 25 semifinalists in the Arizona Innovation Challenge. The Arizona Commerce Authority will now select six winners and award them each $250,000. The challenge is a bi-annual business plan competition for promising early-stage companies in high-growth industries. A panel of judges narrowed down 131 applicants to the 25 semifinalists based on a set of criteria that included technology potential, marketing strategy, quality of management team and economic...

BOSTON - As far as Provident Healthcare Ventures is concerned, there's plenty of blue skies over certain sectors of the home health services market. That's why it has created a $25 million fund to invest in young home infusion, HME, specialty pharmacy and other healthcare companies. "No one out there is investing in these early stage healthcare services companies," said Bob Ciardi, managing partner of Provident Healthcare Partners, which created the new venture company. "There are a lot of great...