Healthcare Industry News:  OmniGuide 

Devices Surgery Venture Capital

 News Release - September 26, 2013

OmniGuide Surgical Completes $15 million Equity Financing

Funding will accelerate growth in Gynecology, advance new product development, and expand commercial footprint

CAMBRIDGE, Mass.--(Healthcare Sales & Marketing Network)--OmniGuide Surgical, a medical device company specializing in advanced energy surgical products, announced the closing of a $15 million financing with funding from a syndicate of existing investors including Stata Venture Partners, Argonaut, and Electro Scientific Industries. The funding will be used to accelerate OmniGuide’s growth in Gynecology and to launch new products into the ENT market.

"This financing allows us to accelerate the commercialization of our advanced energy surgical products for the operating room," said Scott Flora, OmniGuide’s President and Chief Executive Officer. "We are excited to have the continued commitment and confidence of such a high quality group of investors—all of whom have been on board with us through numerous growth phases. We look forward to significantly advancing our commercial footprint with this new funding."

OmniGuide is leveraging the benefits of CO2 laser, known to be one of the safest, most effective and most precise surgical cutting modalities available to improve minimally invasive surgical outcomes. The Company believes that the use of its products can improve a surgeon’s experience in the operating room and provide better outcomes for patients. CO2 laser energy causes less damage to tissue versus other advanced energy products and surgeons are more comfortable using this energy source around critical structures such as nerves, blood vessels, reproductive organs, bladders and bowels.

"We are very pleased to lead this round of financing and help OmniGuide execute on their mission and become a major player in the advanced energy surgical products market," added Ray Stata of Stata Venture Partners. "OmniGuide has made substantial progress with the commercialization of their products and we look forward to helping them accelerate their penetration into large market opportunities such as Gynecology."

About OmniGuide

OmniGuide is committed to developing advanced energy surgical solutions that enhance precision, improve access and provide increased control in the field of minimally invasive surgery. Since its initial launch, the BeamPath® Laser System for minimally invasive surgery has been used in nearly 100,000 surgical procedures primarily in the fields of Gynecology and ENT.

OmniGuide designs and manufactures its BeamPath Laser System in Cambridge, Massachusetts based on proprietary technology invented at MIT and originally published in Science and Nature. The Company couples its proprietary advanced energy delivery system with a line of flexible ?ber-enabled CO2 lasers for use in the operating room. The Company distributes its BeamPath Laser System in the U.S. through a direct sales force.

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Source: OmniGuide Surgical

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