RF Surgical Systems, Inc. Completes $12 Million in Funding Led by Menlo Ventures

BELLEVUE, Wash.--(BUSINESS WIRE)--RF Surgical Systems, Inc. announced that it has recently raised $8.2 million in a Series A round of venture capital financing from Menlo Ventures and Stanford University. Together with previous private placement investments, the company has raised over $12 million during 2008 and over $20 million since its inception. The Company intends to use the new capital to support the expansion of its RF Surgical Detection System™ into acute care hospitals throughout the country.

The Company has developed and is marketing the patented FDA and CE approved RF Surgical Detection System™, the first and only surgical sponge detection system in commercial use. The system scans for and signals an alert if any RF Detect™ tagged surgical sponges, gauze or towels remain in a patient prior to surgical closing procedures. Retained surgical sponges are one of the leading patient safety concerns in hospitals—occurring at an estimated rate of 1 in every 1,000 to 1,500 intra-abdominal surgeries, according to a study in the New England Journal of Medicine. The RF Surgical Detection System™ is currently the market leader and is in use in over 30 hospitals across the United States and is in a market test phase in several hospitals in Europe.

About RF Surgical Systems, Inc.

RF Surgical Systems is a privately held medical device company headquartered in Bellevue, Washington, and maintains engineering R & D facilities in San Diego, California. The concept of the RF Surgical Detection System originated over ten years ago by Dr. Jeffrey Port, a Thoracic surgeon, and Mr. William Blair, an electrical engineer. For more information, please visit www.rfsurg.com.

About Menlo Ventures

Menlo Ventures provides long-term capital and management support to early-stage and emerging-growth companies. Menlo is one of Silicon Valley's oldest venture capital partnerships, and has organized and managed ten venture funds since their inception in 1976. With over $4 billion under management, and a team with over two hundred years of collective experience in technology, marketing, sales and general management, they have the resources to support the most ambitious of projects. www.menloventures.com Contacts

RF Surgical Systems, Inc. David Goesling, 425-283-0680 dgoesling@rfsurg.com