Healthcare Industry News: HSMN NewsFeed
News Release - July 9, 2021
Single Pass Closes Seed Funding RoundLAKE FOREST, Calif., July 9, 2021 -- (Healthcare Sales & Marketing Network) -- Bill Colone, CEO, announced today the closing of the seed financing round for Single Pass, Inc. (www.singlepass.co). Single Pass has developed the world's first disposable bipolar electrocautery device that can cauterize deep tissue through a guide needle. The investment round was led by Tech Coast Angels, San Diego and also included Kyto Technology and Life Science, Inc. located in Los Altos Hills, California.
The patented device provides several clinical advantages and procedural cost savings for the millions of patients required to undergo deep tissue biopsy procedures every year. The technology was invented by company co-founders Peter Sunenshine, MD, Chief of Neurointerventional Surgery and Kevin Hirsch, MD, Chairman Department of Radiology, both of Banner University Medical Center in Phoenix, Arizona. Colone said, "use of this new innovative device will eliminate procedural anxiety and give clinicians total control of outcomes to improve safety for patients while lowering healthcare costs." Board of Directors member, Dave Ferrera, added, "the ergonomics, ease of use and performance of this device will drive adoption by physicians when the first regulatory approval is achieved is Q1 2022. We are excited to bring this product to market."
Over four million deep tissue biopsy procedures are performed annually throughout the world and the market continues rapid growth due to new tissue imaging and detection methods. Uncontrolled bleeding and hemorrhage are potential complications for which there are no current electro-cautery solutions. The company is targeting 2022 for the commercial introduction of the new device both in the US and internationally.
Current biopsy procedure equipment manufacturers include Becton Dickinson and Company, Cook Group Incorporated, Merit Medical Systems, Olympus Corporation, Medtronic, CONMED Corporation, and Boston Scientific Corporation.
Source: Single Pass Inc
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