Rainbow Medical announces the closing of a $ 10M equity investment by an Institutional Investment Fund in one of its portfolio company Vascular Dynamics.
Another $ 1M was invested by so called "friends & family".
Vascular Dynamics, is a fully owned Rainbow Medical company founded about 3 years ago and is developing a brilliant small implant, placed in the carotid artery, for the treatment of hypertension (high blood pressure), a multi-billion USD market opportunity. Recently, we relocated Vascular Dynamics to the USA (California) and recruited a US based, med tech veteran CEO, Bob Stern, who led the process.
The Investor is an evergreen private equity fund with over $4 billion under management and has offices globally.
This investment validates again Rainbow Medical value creation model; developing substantial medical devices in a short time and cost effectively.