Canadian medical device innovator Flosonics Medical announced it has secured C$7.5 million in venture debt financing from RBCx. The financing and specialized support will advance Flosonics Medical’s mission to improve patient outcomes through noninvasive and data-driven solutions that empower clinicians to make faster, more informed decisions at the bedside.
Sepsis is a major health challenge, affecting over 75,000 patients annually in Canada and over 1.5 million in the U.S., with mortality rates that make it one of the leading causes of in-hospital deaths in the United States. And traditional Doppler ultrasound machines, which can assess blood flow and vascular conditions, can be cumbersome and time-intensive, making them less accessible in fast-paced environments such as emergency departments and intensive care units.
FloPatch is a wireless and wearable Doppler ultrasound device that conducts rapid, repeatable hemodynamic assessments to understand a patient’s fluid responsiveness. This allows clinicians to deliver timely and effective 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 offers debt financing to pre-revenue, venture-backed life sciences companies. And 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 growth stage, from pre-clinical to commercial. And RBCx is helping to address the significant investment gaps and funding resources available in the capital-intensive sector. Headed by Anne Woods, Managing Director of RBCx’s national Life Sciences practice, the team combines tailored financing with strategic expertise to enable the next generation of healthcare companies.
With this funding, Flosonics Medical is poised to expand FloPatch’s reach and further solidify its position as a Canadian leader in life sciences innovation.
KEY QUOTES:
“Flosonics Medical is a great example of the transformative potential of Canada’s life sciences sector, and we’re longtime supporters of their mission. We’re proud to back the scaling ambitions of companies like Flosonics Medical with the capital they need to improve patient care through bold innovations like FloPatch.”
– Anne Woods
“We’re thrilled to be working with RBCx as we bring FloPatch to more hospitals across North America and beyond. This financing allows us to accelerate our mission of equipping healthcare providers with the tools they need to deliver the highest quality of care possible while improving operational efficiencies in hospitals.”
– Joe Eibl, CEO and co-founder of Flosonics Medical
