Securus Medical Group, an Ohio-based medtech company, has raised $6.5m in series B financing.
The round was led by new investor 3X5 Special Opportunity Fund, and joined in participation by existing backers the University of Michigan and RiverVest Partners. Michigan made its investment through its Investment in New Technology Startups programme.
As part of the deal, Nicholas Walrod, principal of 3X5 Special Opportunity Fund, will join Securus’ board of directors.
The Cleveland-based firm also announced that medtech industry veteran, Steve Girouard, will join Securus as its chief executive.
Walrod said: “We are enthusiastic in our support of Securus and we were delighted to attract Steve to lead the Company during this critical phase of development. We see an opportunity for several large medical device markets to benefit from Securus monitoring technology and Steve brings to Securus deep industry insights and a strong network in target markets for the Company.”
