Vidacare Raises $7.6m In Private Equity Financing

Vidacare has closed a $7.6 million private equity Series D1 financing. The financing would be used to launch Vidacare’s hematology/oncology product –  OnControl Bone Marrow System, and OnControl Bone Access System. The products will be used for spinal surgical procedures. The financing would also provide support for ongoing global expansion efforts for its EZ-IO Vascular Access System, said the company. 

The financing was led by Piper Jaffray, along with Tullis Health Investors and Incyte Venture’s Targeted Technology Fund I, and from the existing investor base.

Phil Faris, president and CEO of Vidacare, said: “Raising money in this turbulent time has been a significant undertaking. This round of investment speaks volumes about what Vidacare has accomplished to date and to the promise of what we will accomplish over the next few years. The continued advancement of our intraosseous technology platform has exciting potential for clinicians and patients in a multitude of applications, and this funding supports our continued aggressive positioning to maximize IO opportunities.”