Canadian medical device maker Flosonics Medical has secured CAD$7.5 million (approximately $5.2 million) in venture debt financing from RBCx.
The funding will help with the launch of FloPatch, a wireless, wearable Doppler ultrasound device that conducts rapid, repeatable hemodynamic assessments to understand a patient's fluid responsiveness, allowing clinicians to deliver timely interventions. By streamlining critical decisions, FloPatch helps healthcare providers optimize sepsis care, reduce fluid-related complications, and improve patient outcomes.
RBCx is the first tech and innovation banking arm under a Canadian bank with a dedicated life science credit advisory team that provides debt financing to pre-revenue, venture-backed life sciences companies. This type of unique servicing model provides companies like Flosonics Medical with access to capital while they scale operations and refine their innovative solutions. RBCx’s venture debt financing is designed to support venture-backed life science startups at every stage of growth, from pre-clinical to commercial. In doing so, RBCx is helping to address the significant investment gaps and funding resources available in the capital-intensive sector.
With this financing, Flosonics Medical is poised to expand the reach of FloPatch.
