Securus Medical Group was able to gather capital commitments amounting to USD 6.5 million for its Series B financing. The round was led by new investor 3X5 Special Opportunity Fund. The privately-held company's existing investors RiverVest Venture Partners and the University of Michigan Investment in New Technology Startups, or MINTS program, also joined the round. 3X5 Special Opportunity Fund Principal Nicholas Walrod would be joining the Board of Directors at Securus Medical as part of the transaction.
3X5 Special Opportunity Fund has USD 80 million in committed capital. It looks for opportunities in the healthcare and clean technology sectors.
Securus said it would use the proceeds to continue development of its thermographic mapping system known as Aurora. The thermal measurement device would have temperature monitoring applications in energy-based surgical operations.
Securus also announced that medical device industry veteran Steven Girouard, PhD would be leading the firm as its President and Chief Executive Officer. He has worked in leadership positions at Johnson & Johnson, Cleveland Clinic, Guidant Corporation and Oakwood Medical Investors.
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