The funds will be used to pursue the commercialization of Flosonics Medical’s wireless Doppler ultrasound patch in addition to new product development
Flosonics Medical recently announced the close of a $14 million USD funding round led by Arboretum Ventures in partnership with existing investors iGan Partners and Genesys Capital.
The Canadian medical device company headquartered in Northern Ontario also welcomed Arboretum Ventures Partner Dan Kidle to its Board of Directors.
Financing proceeds will support the commercial launch of Flosonics Medical’s FloPatch technology in North America in addition to new product development.
“This financing is an important milestone which coincides with our technology’s transition to the clinical setting. Our team has developed the world’s first wireless Doppler ultrasound patch,” said Joe Eibl, co-founder and CEO of Flosonics Medical.
“This breakthrough technology will, for the first time, enable non-invasive on-demand Doppler measurement of blood flow, which we believe will be an essential tool for the medical community.”
Founded in 2015, Flosonics Medical is engaged in the research and development of non-invasive sensors aimed at improving patient care.FloPatch is the world’s first wireless, wearable Doppler ultrasound system that enables rapid, repeatable, and trusted hemodynamic assessments throughout the continuum of care.
The medical device, which has received regulatory clearance from FDA and authorization for sale from Health Canada, adheres to a patient’s neck and wirelessly delivers actionable clinical date to a clinician’s tablet via Bluetooth.
“FloPatch is a new paradigm in patient monitoring. Blood flow has been a missing vital sign, and we’re proud to have reimagined Doppler ultrasound as a simple, wireless, low-cost, single-use wearable,” said Dr. Jon-Emile Kenny, Flosonics Medical’s Chief Medical Officer.
Arboretum Ventures is a healthcare-focused venture capital firm with a history of investing in impactful medical innovation.
“Our fund is focused on supporting emerging technologies that have the potential to transform clinical care. FloPatch is a truly differentiated monitor, and we’re excited to partner with Flosonics’ team of world-class ultrasound engineers, physiologists, and clinicians,” said Arboretum Ventures Partner Dan Kidle.
About Arboretum Ventures
Arboretum Ventures is a venture capital firm specializing in the healthcare sector. Founded in 2022, the firm has raised $700 million in capital to support a portfolio diverse in stage and geography. The investment team targets capital-efficient companies that improve patient outcomes and reduce healthcare system costs across medical devices, life science tools & diagnostics, and tech-enabled care delivery. Arboretum is headquartered in Ann Arbor, Michigan. More information is available at www.arboretumvc.com.