No less than 57 different private investors opened out their bank accounts to invest into Soluble Systems' recent US$3.5 million private equity funding round.
Soluble Systems' products actively compete in two sizeable and expanding wound care markets in the U.S. These markets are the active biologics and synthetic dressings sectors. Soluble Systems operates under the brand names TheraGauze and TheraSkin. Both TheraGauze and TheraSkin were designed to enable healthcare professionals handle difficult-to-heal, serious wounds, where factors such as age, co-morbidities, diabetes and several other factors come into play.
When the wound care firm closed up its private equity funding round, it had raised US$3.5 million. Most of the funds came from current company shareholders, board members, and its executives. Of the entire group of 57 investors, 10 were first-time investors and the remaining were existing stakeholders. These shareholders chose to increase their hold in the firm in this latest round.
Soluble Systems chief executive Kerry McCarter told media that the funds will be used to support the expansion of the firm's sales force.
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