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news.Salient Surgical Technologies, a medical technology company that develops and markets advanced energy devices for use in surgical procedures, has completed its Series F financing totaling $17.9 million.
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Investors in the round included Piper Jaffray, Arnerich Massena & Associates, Medtronic, RiverVest Venture Partners, and other financial and strategic investors.
Salient plans to use the net proceeds to fund programs aimed at continuing to expand its sales and marketing organization and accelerating development of new advanced energy products based on its proprietary Transcollation technology. Salient will also use a portion of the proceeds to fund working capital requirements and amortize term debt.
Joseph Army, president and CEO of Salient, said: “The strong support shown by our existing investors and Piper Jaffray in this round will provide capital necessary to help fund planned expansion of our sales organization and increased investment in our product pipeline as we strive to establish our Transcollation technology as the standard of care in our current markets and explore new clinical applications.”