Company name:Retia Medical.
Industry: medical devices — diagnostics.
Location: East Lansing, Michigan.
Solution/product: The Retia monitor is a cardiovascular signal processing device that is less invasive and based on technology licensed from Michigan State University and MIT. It is designed to monitor patients who go into shock. The product is aimed at anesthesiologists and intensivists.
Money raised:$7 million in a series A funding.
How it will be used:Funds will be used to complete product development and commercialize the product.
Investors:Pritzker/Vlock Family Office run byMichael Vlock and Karen Pritzker.
Management team: Marc Zemel, co-founder and CEO; Ramakrishna Mukkamala, co-founder and chief technology officer.
Market:The market for less-invasive cardiac monitoring technology can be as large as $2 billion, said Zemel, and the product can benefit at least 15 million surgical patients and 3 million intensive care patients. Retia’s direct competitors are Edwards Lifesciences’ FloTrac system, the Germany-based PULSION Medical Systems and its Picco product, and the U.K.’s LiDCO.
[Photo Credit: freedigitalphotos user Salvatore Vuono]