|[December 23, 2013]
Blue Heron Capital Participates in $16 Million Series C Financing of CSA Medical, Inc.
RICHMOND, Va. --(Business Wire)--
Richmond-based Blue Heron Capital, a private equity firm focused on
growth equity and lower market buyout opportunities, participated in a
$16 million Series C funding of CSA Medical, Inc. led by Ascension
Ventures (AV). The financing round was oversubscribed with all existing
investors participating, including SV Life Sciences, Intersouth
Partners, First Analysis, Blue Heron Capital, Rose Park and Guide
Medical Ventures. Tara Butler, MD, Managing Director at AV, will join
the CSA Medical Board of Directors.
"Tom Snead and Blue Heron Capital have been terrific partners for us and
we are very fortunate to have them as part of our team," said Bill
Floyd, CEO and president of CSA Medical. "This funding will support the
development of new applications and enable us to meet the growing
clinical demand for our truFreeze system by immediately doubling our
sales force and introducing new products in 2014."
The truFreeze System is currently being used by physicians to ablate a
variety of unwanted tissue inside the body such as in the esophagus and
airway. The device delivers extremely cold liquid nitrogen spray through
a small catheter to enale physicians to flash-freeze targeted tissue.
This process has been shown to destroy the frozen cells without
disturbing the underlying connective tissue, thereby providing a
framework for healthy cells to regenerate over time.
"Bill and his team at CSA are doing amazing work. I am pleased with
their progress to date. The strength of this syndicate validates the
significant opportunity to advance patient care with spray cryotherapy,"
added Tom Snead with Blue Heron Capital.
About Blue Heron Capital: Blue Heron Capital is an operationally
focused investment firm based in Richmond, Virginia. We firmly believe
people make the difference in building great companies. Therefore, we
only invest in companies where we have deep, relevant experience and can
play an active role in the oversight of the business. We provide much
more than just capital. Our team of dedicated and active LP's includes
c- level executives and successful entrepreneurs with decades of
experience building and managing vibrant businesses. Blue Heron unlocks
this value and allows our portfolio management teams to draw on our
experience, leadership, insight and network to accelerate their growth.
To learn more, please visit www.blueheroncap.com.
About CSA Medical
CSA Medical, Inc. develops and manufactures a proprietary interventional
spray cryotherapy technology platform comprised of a device and
specialty catheters that enable delivery of spray cryogen inside the
body to flash freeze and destroy unwanted tissue. The Company is the
first to harness the power of low pressure, extremely cold (-196 o C)
liquid nitrogen inside the body. To learn more, please visit www.csamedical.com.
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