Cheetah Medical Secures $5 Million Investment from HighCape Partners
Extends February 2014 Financing with Addition of New Strategic Investor
NEWTON, Mass., June 6, 2014-- Cheetah Medical, Inc., a leader in non-invasive hemodynamic monitoring systems, today announced that it has secured an initial investment of $5 million from HighCape Partners, a firm co-founded by Kevin Rakin, who joined Cheetah Medical's Board of Directors in 2013. HighCape is a growth equity firm with a specialized focus and partner expertise in transforming commercial-stage life sciences companies into sustainable businesses. This investment from HighCape is an extension of the previously announced $9 million fundraising round, which closed in February 2014.
Cheetah Medical, headquartered in Newton Center, MA, has developed the CHEETAH NICOM Hemodynamic Management System. Based on the Company's proprietary bioreactance technology, the CHEETAH NICOM offers a completely non-invasive means to measure key hemodynamic parameters. The system is currently available in more than 60 countries, including the United States.
Kevin Rakin, Founding Partner of HighCape Partners commented, "For the past year, I have had the opportunity as a board member to watch the Company develop and grow. Based on this experience, we believe that the CHEETAH NICOM technology has the potential to address the unmet need for better patient monitoring technologies, and that management's current commercialization strategy has the Company poised for success."
Stephen Reeders, Chairman of Cheetah Medical Inc. and founder of MVM Life Science Partners added, "We remain enthusiastic about the quality of and opportunity for Cheetah's technology to improve patient outcomes. Kevin and the HighCape team have a track record of successfully identifying, investing in and transforming commercial stage companies into scalable, revenue-generating entities, and we believe their expertise will enhance our collective efforts to make the CHEETAH NICOM a standard of care."
"We believe that our technology has the potential to bring significant value to clinicians and other healthcare providers in the ICU, operating room and emergency department by driving fundamental improvements in patient monitoring. This additional capital will fund the continued expansion of our sales and marketing activities in the U.S. and internationally. We are grateful for the continued support of our investors and excited to add HighCape to that list," said Chris Hutchison, President and CEO of Cheetah Medical.
Mr. Hutchison joined Cheetah Medical in March of 2013 and has recruited key management talent with experience from such world class companies as from Boston Scientific, Covidien, Smiths Medical and Bard.
About Cheetah Medical
Cheetah Medical, Inc. is a global leader in non-invasive hemodynamic monitoring. Cheetah Medical manufactures and commercializes the CHEETAH NICOM Hemodynamic Management System which offers innovative solutions to inform better clinical decision making. Available in more than 60 countries, the CHEETAH NICOM Hemodynamic Management System delivers value through its unique clinical and health economic advantages. To learn more about Cheetah Medical and the CHEETAH NICOM, please visit www.cheetah-medical.com
(508) 358-7206 ext. 202
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