LOUISVILLE, Colo., July 26 /PRNewswire/ -- Medivance, Inc., the medical device company focused on the development of therapeutic temperature management products for treating critically ill patients, announced today that it has completed a $23 Million Series D private equity financing. Existing investors Cross Atlantic Partners, Camden Partners, Skyline Ventures and Partisan Management widely participated in the financing, which was led by a significant institutional investor. MDY Healthcare based in London also participated in the Series D financing.
The proceeds will enable the company to take advantage of the rapidly expanding market for its award-winning Arctic Sun(R) Temperature Management System, develop new products and expand into new therapeutic areas.
"We are pleased to announce the closing of our Series D financing which will enable Medivance to continue our rapid sales growth and provide the means to reach profitability," said Medivance CEO Robert Kline. "This funding demonstrates continued strong support for Medivance's proven, market-leading products that can be implemented easily and quickly, safely speeding cooling therapy to patients when minutes count."
The Arctic Sun is currently established in hospitals worldwide with applications in emergency departments and intensive care settings. A growing body of clinical evidence suggests therapeutic cooling improves patient outcomes by reducing damage to the brain after stroke, cardiac arrest, brain injury, high fevers, trauma, heat stroke and other critical illnesses.
Therapeutic temperature management implemented with Medivance's Arctic Sun is rapidly becoming a worldwide standard of care for critically ill patients.
About Medivance
Medivance, Inc. is a Louisville, CO-based medical device company that designs, manufactures and sells products used to improve patient outcomes through control of core body temperature. The company provides clinicians and researchers with safe, easy and precise methods of lowering and controlling body temperature in order to reduce brain damage caused by critical illness and high fevers.
For more information, http://www.medivance.com .
Medivance, Inc.CONTACT: Edna Kaplan for Medivance, Inc., +1-617-974-8659,kaplan@kogspr.com
Web site: http://www.medivance.com/
