Cardiosolutions Lands $8,000,000 New Funding Round

  • Feed Type
  • Date
    7/11/2012
  • Company Name
    Cardiosolutions
  • Mailing Address
    75 Mill Street Stoughton, MA 02072
  • Company Description
    Cardiosolutions, Inc. was incorporated in Delaware in 2006 to develop a less invasive, percutaneous alternative to open heart surgical repair of the mitral valve. Cardiosolutions’ pioneering technology, the Mitral Repair System, is designed to greatly reduce the degree of mitral regurgitation in patients with either functional or degenerative valve insufficiency.
  • Website
    http://www.cardiosolutionsinc.com
  • Transaction Type
    Venture Equity
  • Transaction Amount
    $8,000,000
  • Transaction Round
    Undisclosed
  • Proceeds Purposes
    Sorin’s $8 million investment in Cardiosolutions will finance on-going product development and clinical testing of the technology. Under the terms of the agreement, Sorin has also an option to acquire the company in the future.
  • M&A Terms
  • Venture Investor
    Sorin Group