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Clear Catheter Systems Secures $4M

2011-12-30
BEND, OR, Leading developer of medical devices used in post surgical recovery announced that it has closed its first institutional round of financing. The $4 million round was co-led by Aphelion Capital and California Technology Ventures. Also participating in the financing was Research Corporation Technologies.
Clear Catheter Systems, Inc., a leading developer of medical devices used in post surgical recovery announced that it has closed its first institutional round of financing. The $4 million round was co-led by Aphelion Capital and California Technology Ventures. Also participating in the financing was Research Corporation Technologies.

Ned Scheetz, of Aphelion Capital and Alex Suh, of California Technology Ventures will join the board of directors. Clear Catheter Systems will utilize the capital from the latest round to respond to increasing demand for its lead product, the PleuraFlow Active Tube Clearance System, and drive commercialization in the United States and abroad.

"This investment is a great vote of confidence in Clear Catheter's mission to deliver technology that will improve post surgical outcomes and reduce healthcare costs," said Clear Catheter's CEO, Ed Boyle. "These investors have significant experience working with high-growth medical device companies like ours, and we're thrilled to have Ned and Alex joining the team."

"Clear Catheter's Active Tube Clearance System is a groundbreaking technology to aid in the post operative recovery from surgery," said Ned Scheetz. "We believe Clear Catheter's PlueraFlow system can improve hospital profitability by reducing the high costs associated with post surgical complications, and simultaneously improve patient care."

About Clear Catheter Systems, Inc.

Clear Catheter Systems is a Bend, Oregon based medical device company developing an anti-clogging platform of surgical drainage devices. Its lead product is the PleuraFlow Active Tube Clearance System, which addresses the problem of chest tube clogging after heart and lung surgery. In addition, Clear Catheter has a pipeline of products based on its proprietary tube clearance technology to treat tube clogging in other medical market segments, including a system for the urinary catheter drainage market, the enteral feeding sector as well as systems for standard surgical drains.
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