CathVision today announced its most recent financing round of US$9 million from investors.
The financing will help advance commercial operations driving adoption of the ECGenius system, the company’s electrophysiology recording technology, and support the continued development of artificial intelligence (AI)-powered analytic modules to provide electrophysiologists with automated analysis during cardiac ablation procedures.
Immediate steps will include expansion of the company’s sales team and US presence, and further development of the Cardialytics suite of artificial intelligence-powered analytics. This newest round of funding brings the total raised to date by CathVision to nearly US$30 million.
“Despite challenging times in the financial markets, CathVision remains a confident investment for stakeholders because we are achieving critical milestones that validate the need for our technology, revenue generation through successful commercialisation, and our commitment to ongoing R&D,” said Mads Matthiesen, CEO, CathVision. “This investment round will support the acceleration of commercial adoption through 2024 as we position CathVision to significantly impact how, throughout the USA, we help physicians treat cardiac arrhythmias more effectively.”
The ECGenius System includes a proprietary hardware amplifier capable of acquiring high-fidelity, low-noise cardiac electrograms. The ECGenius system received US Food and Drug Administration (FDA) 510(k) clearance in May 2022 and is currently available.