TMCnet News
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.
|
