Cheetah Medical Completes $9 Million Fundraising Round
Fletcher Spaght Ventures leads round, joined by existing investors
NEWTON, Mass., Feb. 25, 2014 /PRNewswire/ — Cheetah Medical announced closing a round of fundraising totaling $9M. Leading the investment round was Fletcher Spaght Ventures. Fletcher Spaght Ventures was established in 2001 by Fletcher Spaght, Inc. a leading strategic consulting firm founded in 1983. Leveraging market intelligence and strategy capabilities from its parent company, Fletcher Spaght Ventures has built a robust life science portfolio in the areas of medical devices, diagnostics, biotechnology and other areas. Also participating in this round were Springfield Investment Management, MVM Life Science Partners, Robert Bosch Venture Capital and Ascension Health Ventures.
Cheetah Medical, Inc. is based in Newton Center, MA and manufactures and commercializes the CHEETAH NICOM Hemodynamic Management System. The CHEETAH NICOM offers a completely non-invasive means to measure key hemodynamic parameters based on its proprietary bioreactance technology.
“We are enthusiastic about the need for and potential of the CHEETAH NICOM technology as a fundamental improvement in patient care. The company is led by a strong management team and has an excellent investment syndicate of which we are pleased to be a part,” said Renard Charity of Fletcher Spaght Ventures.
Stephen Reeders, MVM Life Science Partners Founder and Chairman of Cheetah Medical Inc. said “MVM believes Cheetah’s technology greatly enhances physicians’ management of patients in the operating room, ICU, and Emergency Department. We are pleased to have Fletcher Spaght as a co-investor. They have studied the market Cheetah serves and will be an excellent partner as we seek to make the CHEETAH NICOM a standard of care.”
“Cheetah helps clinicians maintain appropriate hemodynamic balance in critically ill patients, avoiding the negative consequences associated with fluid overload, or inadequate perfusion. The proceeds from this round will support the expansion of our sales and marketing activities in the U.S. and internationally. We are pleased to have Fletcher Spaght as a partner in what will be an exciting future.” 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
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SOURCE Cheetah Medical