Securus Medical Group said today it’s got a new CEO and a new investor backing it as part of a $6.5 million Series B.
According to the company, the cash, and the new leadership, will allow it to continue development of a thermographic mapping system. Its infrared-based temperature monitoring device is designed for use during energy-based surgical procedures, such as atrial ablation, in order to avoid the rare occurrence of thermal injury to a patient’s tissue.
According to an announcement from Securus, the Series B financing was led by new investor 3X5 Special Opportunity Fund, an $80 million fund that invests in later-stage healthcare and clean-tech companies. Existing investors RiverVest Venture Partners and University of Michigan Investment in New Technology Startups also participated.
With the Rise of AI, What IP Disputes in Healthcare Are Likely to Emerge?
Munck Wilson Mandala Partner Greg Howison shared his perspective on some of the legal ramifications around AI, IP, connected devices and the data they generate, in response to emailed questions.
Along with the funding, Securus named a new president and CEO: Steven Girouard, a former vice president of emerging technologies at Johnson & Johnson who has also worked at Guidant Corp. and Cleveland Clinic.
Securus’s last big funding came in 2011 with a Series A that was planned to net $1.5 million.
The medical device firm moved from Boston to Cleveland in 2011 and set up shop at the Cleveland Clinic’s Global Cardiovascular Innovation Center, which supported the company early on with grants.
The company keeps a low profile — it doesn’t have a website, didn’t provide contact information on its announcement and did not go into further detail about the technology or the market.
