Monteris Medical: Raises $73M in Equity and Debt Financing

Monteris Medical Raises $73M in Equity and Debt Financing

• Monteris Medical, a Minnetonka, MN-based private medical technology company, raised $73m in financing including $35m in new Series D equity and a $38m debt facility
• The Series D round was led by InnovaHealth Partners, with participation from Birchview Capital
• The debt facility, led by Madryn Asset Management, extended $28m at closing, with the option to draw an additional $10m upon the achievement of certain milestones
• The company intends to use the funds to support market adoption, clinical research and technology programs and refinance its current obligation
• The system is currently installed in more than 100 hospitals in the United States and Canada and is actively used in minimally invasive treatment approaches for patients with drug-resistant epilepsy