Checkpoint plans to use the investment to fund a pilot launch starting this month of its stimulator, said Len Cosentino, Checkpoint's chief executive officer. The launch will include two or three hospitals in each of five markets: Cleveland, New York, Philadelphia, North Carolina's Raleigh-Durham and South Florida.
Freedom Meditech Inc., a San Diego company that is developing medical devices to manage diabetes, has closed the second round of Series A venture capital. Though the amount of the financing was undisclosed, the San Diego company with Ohio operations has raised $630,000 since 2006, according to a Securities and Exchange Commission filing.
These strategies and practices can significantly shorten the life cycle of claims, leading to quicker resolutions and improved financial outcomes.
The company is developing a disposable device that measures the length of a woman's cervix to help predict risks of preterm birth. It is potentially easier, less costly and just as accurate as the transvaginal ultrasound device used in only high-risk pregnancies. It could be in the market by 2010.
Neuros Medical on Monday closed on $375,000 in funding from JumpStart and Case Technology Ventures. Its medical device would use high-frequency neurostimulation to solve untreated amputee pain with the hope it could be used for other types of chronic pain. Researchers are completing animal trials now, and the funding will be used to launch human trials later this year.
Health care services, medical information systems, biopharmaceuticals, medical devices and equipment, and other health care companies received more than 60 percent of the $259 million in investment capital raised by the region's companies in 2008, according to the report being written by Ohio's Venture Capital Advisory Task Force.