The firm is planning to use the fund to commercialize its portfolio of dysphagia treatment products and to add new products and services.
Venture Management president Terry Kelly said there is a good opportunity for Swallow Solutions, as the population ages, increasing patient discomfort, and the resultant increases in hospital and medical costs as a result of recurrent pneumonia caused by dysphagia.
"The Swallow Solutions team has a strong track record of developing innovative medical products and bringing them to market,"Kelly added.
" We look forward to complementing their deep expertise with our operating resources, and working together to support the company’s expansion and success."