Navigation Links
Simbionix Raises Largest Amount in Company's History in Venture Capital to Accelerate Growth
Date:10/15/2008

CLEVELAND, Ohio and TEL AVIV, Israel, October 15 /PRNewswire/ -- Simbionix USA Corporation is pleased to announce the completion of a Series C round of growth capital financing led by River Cities Capital Funds, along with incumbent investor Early Stage Partners and other existing shareholders, as well as Western Reserve Partners who served as the company's investment bankers. The investment will enable Simbionix to accelerate the already rapid growth of its medical simulation technology via the introduction of innovative new products and expanded distribution channels. "This significant funding will help us continue the company's momentum and support Simbionix's commitment to maintain its position as the global leader in medical simulation technology," stated Dr. Avshalom Horan, Chairman.

"We are excited about the market's validation of our technology as well as the strong financial support of River Cities and the continuing support of our existing investors," commented Gary Zamler Simbionix CEO. "This infusion of new growth capital will fuel further domestic and international growth of our existing products as well as our emerging products - that includes the recently launched PROcedure Rehearsal Studio, a truly revolutionary virtual reality endovascular simulator with unprecedented hands-on, "patient-specific training capabilities," he added. "Simbionix works closely with global leaders in healthcare, both on the medical device side and the provider side. They take comfort with Simbionix as a partner because of our size, profitability, and the resources to bring innovative products to market," Mr. Zamler concluded.

Ran Bronstein, Simbionix President and one of its founders commented "funding of this sort is an important achievement for the Simbionix team. It's an additional indication demonstrating the growth and the validity of the medical education and simulation market since River Cities has experience in both fields. We welcome River Cities' involvement to boost our efforts to improve patient safety and medical outcomes through advanced simulation. "

"We have been very impressed with the Simbionix team and its best-of-breed technology in an attractive, emerging global marketplace - the combination of people and technology at Simbionix looks tough to beat," stated Mr. Murray Wilson, Managing Director of River Cities. "The impressive rate of adoption of the new e-Learning initiatives makes us confident that the company can build on its already-demonstrated success with the simulation platform.

About Simbionix

Simbionix is the industry's leader in the development and delivery of innovative and effective virtual reality simulation products and solutions for clinical education and training of medical professionals. Our products are designed to accelerate best-practice medical training, advance clinical performance, and improve patient safety. The company is committed to continuously innovating and growing its product offering with a wide range of training modules, case studies and scenarios developed in response to the growing importance of clinical training and education for the improvement of patient care. For more information, please visit http://www.simbionix.com.

About River Cities

River Cities Capital Funds is a venture capital firm based in Cincinnati, Ohio with an office in Raleigh, North Carolina. It has raised nearly $400MM in four venture funds since being founded in 1994, and has backed over 80 portfolio companies, located mainly in the Midwest and Southeastern regions of the U.S. River Cities invests behind exceptional management teams in expansion stage companies in healthcare and information technology that have unique technology or services and strong market positions, with a special emphasis on recurring revenue business models. For more information, please visit http://www.rccf.com.

About Early Stage Partners

Early Stage Partners is an early stage venture capital firm based in Cleveland, Ohio. The company invests in promising opportunities in instrumentation and control technology, life sciences, advanced materials, energy, information technology, and electronics. The company's principals have over one hundred years combined experience in early stage company formation and development, with a significant network of relationships throughout the United State that can be used to attract management, develop strategic partnerships, and provide later stage funding. For more information, please visit http://www.esplp.com .

Press Contact:

Gary Zamler

CEO

Simbionix, USA Corporation

Tel: +1-216-229-2040

Fax: +1-216-229-2070

Email: gary@simbionix.com

Or

Boaz Tal

CFO

Simbionix Ltd.

Email: boaz@simbionix.com

USA Tel: +1-216-229-2040, ext. 110

USA Fax: +1-216-229-2070

Israel Tel: +972-8-9211-177

Israel Fax: +972-8-9211-188


'/>"/>
SOURCE Simbionix Ltd.
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. 2007 a "Record Year" for Successful Validation Studies of Simbionix Simulators
2. Simbionix Takes Non-Invasive GYN Surgical Training to the Next Level
3. Simbionix Releases Powerful New Learning Management System With Enhanced True Assessment System(TM)
4. Simbionix Launches Innovative Patient-Specific Simulation
5. Pearl Therapeutics Raises $15.5 Million in Private Financing
6. Enobia Pharma Raises $40.1 Million Series B Financing
7. Cardiosolutions Raises $7 Million for Spacer Technology to Mitigate Mitral Regurgitation
8. MannKind Corporation Raises $250 Million in Self Managed Registered Direct Offerings of Common Stock
9. VisEn Medical Raises $7 Million in Series B Financing
10. Thermo Fisher Scientific Reports Record Third Quarter Revenues and Adjusted EPS and Raises Full-Year Guidance
11. Gen-Probe Reports Strong Financial Results for Third Quarter 2007, Raises Full-Year Guidance for Earnings Per Share and Total Revenues
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/25/2016)... (PRWEB) , ... May 25, 2016 , ... Lady had ... she tore her cruciate ligament in her left knee. Lady’s owner Hannah sought the ... central Florida board-certified veterinary surgeon, to repair her cruciate ligament and help with the ...
(Date:5/24/2016)... ... May 24, 2016 , ... Media ... The new Media Cybernetics corporate branding reflects a results-driven revitalization for a company ... analysis. The re-branding components include a crisp, refreshed logo and a new web ...
(Date:5/23/2016)... and LONDON , May 23, 2016 ... Could See Frontage Boost Efficiency by 40% - Frontage ... - Frontage Enforce Quality, Compliance and Traceability Within the Bioanalytical ... with labs in the United States and ... to be deployed across its laboratory facilities. In addition to ...
(Date:5/20/2016)... ... May 20, 2016 , ... Kablooe Design, a leading provider of product ... official 25th anniversary of the business. “We have worked hard to build long-term relationships,” ... for the privilege and honor of serving their product design and development needs through ...
Breaking Biology Technology:
(Date:4/13/2016)... 2016  IMPOWER physicians supporting Medicaid patients in ... clinical standard in telehealth thanks to a new partnership ... platform, IMPOWER patients can routinely track key health measurements, ... index, and, when they opt in, share them with ... a local retail location at no cost. By leveraging ...
(Date:3/22/2016)... , March 22, 2016 ... report "Electronic Sensors Market for Consumer Industry by Type ... Others), Application (Communication & IT, Entertainment, Home ... Global Forecast to 2022", published by MarketsandMarkets, ... expected to reach USD 26.76 Billion by ...
(Date:3/15/2016)... , March 15, 2016 ... report published by Transparency Market Research "Digital Door Lock Systems ... Forecast 2015 - 2023," the global digital door lock systems ... Mn in 2014 and is forecast to grow at a ... of micro, small and medium enterprises (MSMEs) across the world ...
Breaking Biology News(10 mins):