The Spring Bay Companies has awarded $3.3m grant through Series B financing to EndoEvolution.
EndoEvolution will use the cash to launch the its Endo360° minimally invasive surgery (MIS) suturing device and will also use to develop its 5mm EndoTransformer.
The Endo360° and EndoTransformer devices are advanced automated MIS suturing devices which use curved needles and aid surgeons to mimic manual stitching and knot tying.
EndoEvolution founder, president and CEO Jerry Brecher said the company’s MIS suturing devices can save hospitals up to $100,000 or more as compared to the current more expensive, single-use disposable plastic MIS suturing devices.