Salus Scientific has closed an oversubscribed $10.1 million Series A financing to support commercial expansion, production growth and the buildout of its clinical infrastructure.
The company initially targeted $8 million for the round, but said investor demand exceeded expectations and allowed the financing to close above target and ahead of schedule.
Salus plans to use the new capital to fund its commercial scale-up and support the company through its anticipated revenue ramp.
The company is developing an occupational wellness platform for procedural medicine, focused on protecting physicians, technologists and nurses who perform fluoroscopy-guided procedures.
Salus said the financing provides a durable capital runway as it expands production and clinical capabilities while preparing for broader commercialization.
The company did not disclose the participating investors in the round.
Chairman and CEO Todd Flohr said the oversubscribed financing reflects investor support for Salus’ commercial strategy and operating approach.
KEY QUOTE:
“We are pleased to have closed our Series A above target and ahead of schedule. We are thrilled to welcome partners who understand our value proposition and align with the company’s long-term vision.”
“That the round closed oversubscribed is, in our view, a direct endorsement of both our commercial thesis and our execution discipline.”
Todd Flohr, Chairman and Chief Executive Officer of Salus Scientific
