The funding represents continued support from Rosse Enterprises.
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| [09-January-2018] |
| WOBURN, Mass., Jan. 9, 2018 /PRNewswire/ -- ClearLine MD, a medical device company focused on reducing the impact of iatrogenic Air Burden to patients and improving the safety and effectiveness of intravenous (IV) therapy, today announced the closing of its latest funding round of $5.5 million. The funding represents continued support from Rosse Enterprises. Rosse Enterprises is the family office of Tom Rosse, founder of Instrumentation Laboratory. Rosse Enterprises provides financing to companies with promising medical technologies. The financing will support ClearLine’s direct go-to-market initiatives and strategic partner activities. “The support ClearLine MD has earned from our investors and partners has been incredible. They are committed to seeing our innovative technology make a true impact on the risks associated with air entering patients through IV lines,” said Ann Bilyew, President & CEO of ClearLine MD. “The momentum we are finding in the market is exciting, as healthcare providers prioritize improved patient safety and see the value in reducing the risks associated with unnecessary Air Burden in IV therapy.” IV therapy is the most common invasive hospital procedure. Yet while delivering life saving medications and fluid management, it also carries the risk of air entrainment in the vasculature. This creates the potential for physical harm to the patient as a result of these very common medical procedures. Sources of air include leaky valves, syringe administration, fluid warming, bag changes and many others. As the technology and techniques of IV therapy have increased in complexity, the sources of air and the potential for air entrainment have increased in tandem. Complications range from damage to the vessel walls to major neurological and cardiopulmonary events to mortality. The ClearLine IV technology is the first of its kind to offer a solution for continuously monitoring IV lines for the presence of air and then automatically removing that air. The ClearLine IV is an FDA-cleared device that continuously monitors a patient’s IV lines for the presence of air and helps clinicians manage and avoid one of the primary risks associated with IV therapy. “ClearLine MD represents the best of healthcare technology - a cost effective solution protecting patients from the potential of real, unnecessary harm,” says Amy Rosse-Stapleton, a Board Member for ClearLine MD. “We are proud to support a company developing elegant solutions to this underrecognized problem and risk to patient safety. The team is doing an excellent job raising awareness of the issue and bringing effective solutions to market.” For more information about ClearLine MD and its revolutionary medical technologies, go to www.ClearLineMD.com. About ClearLine MD MEDIA CONTACT: Abbey Curran, acurran@clearlinemd.com, Office 781-933-6500, Mobile 781-860-3557 View original content with multimedia:http://www.prnewswire.com/news-releases/clearline-md-secures-55mm-funding-for-commercialization-of-clearline-iv-300579894.html SOURCE ClearLine MD |
