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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 Citi
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SOURCE Simbionix Ltd.
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