Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.Israel-based medical device firm Flexicath has secured $600,000 in a series B preferred equity round that was led by the Zitelman Group. The company has also received 510(k) clearance from the FDA allowing it to place its FirmGrip sterile catheter intravenous system in the US market.
Subscribe to our email newsletter
The funding will be used to ramp-up US and international sales and marketing for the FirmGrip catheter. The patent pending Flexicath FirmGrip is said to be designed to meet the market needs for the largest segment of intravenous (IV) catheterizations, those lasting up to 29 days.
The company has said that its FirmGrip may save the need for a sterile sheet by enclosing the catheter in a special self-contained package that permits insertion without removing the catheter from the sterilized coating sleeve until the procedure is complete and the catheter is in the vein.
According to the company, the system makes the IV insertion process faster and less expensive, and allows any member of the medical team – paramedics, nurses, and physicians – to insert the catheter.
Rick Zitelman, principal of The Zitelman Group, said: We are very pleased to be helping Flexicath bring this important new healthcare technology to the US market, and we congratulate them on receiving the FDA clearance for this purpose.