Cheetah Medical Ltd, an Israeli company made a Form D Filing with the United States Securities And Exchange Commission (SEC) of a $14.5 million round of equity financing, which it has sold as an exempt offering under rule 506 of the SEC’s regulations.
The filing also indicated the sale was part of an intended $24 million total financing round, leaving $9.5 million still to be sold. Earlier on March 15th, 2013 a press release had indicated that $20 million had been sold, so this stands as a correction until possible final partners for the new financing are completely organized.
Separately, the company indicates that the new money was raised from Ascension Health Ventures, MVM Life Science Partners, both in the United States, and from Robert Bosch Venture Capital, the investment arm of Robert Bosch GmbH in Germany. The company had earlier raised $54 million from these investors in prior financing rounds.
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Cheetah Medical is a leader in non-invasive cardiac output and hemodynamic monitoring. Cheetah Medical, founded in 2000, focused on the development and commercialization of an accurate non-invasive solution for the monitoring of critically ill cardiac patients.
The company makes the proprietary NICOM cardiac output monitoring system, describes as the only non invasive, real-time, cardiac and hemodynamic monitoring system that helps physicians manage fluids in critically ill patients. NICOM, not surprisingly, stands for Non Invasive Cardiac Output Monitoring.
The NICOM system is CE approved for use in the European Union and FDA cleared for deployment in the United States, and NICOM is the only fully effective non-invasive cardiac output monitor approved for U.S. regulatory purposes, equivalent to the standard, and invasive, swan ganz catheter-insertion method.
Cheetah Medical’s NICOM is now used by leading medical centres around the globe in over 100 hospitals, providing clinicians with invaluable clinical information in complicated medical scenarios. Cheetah Medical is committed to ongoing research and development and close cooperation with clinicians.
Cheetah Medical’s U.S. headquarters is in Vancouver, Washington and the company is led by Chris Hutchinson its recently appointed new CEO.
