Magnolia Medical Announces $46 Million Growth Equity Financing
PRIVATEFeb 16, 2022
Amount Raised
$46 Million
Round Type
Private Equity
SeattleInformation TechnologyHealthcareHealth Care
Description
Magnolia Medical Technologies, Inc., inventors of Steripath®, the only FDA 510(k)-cleared device platform indicated to reduce blood culture contamination for sepsis testing,1 today announced a $46 million growth equity financing co-led by RTW Investments, LP ("RTW") and Sectoral Asset Management with significant participation by new investor Janus Henderson Investors. All existing major investors including HealthQuest Capital, Evidity Health Capital, and SightLine Partners also participated in the financing.
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Company Information
Company
Magnolia Medical
Location
200 WEST MERCER STREET SUITE 500
Seattle, Washington, United States
About
Magnolia Medical Technologies is on a Mission to ZERO®. Today, we offer healthcare institutions a solution to some of their biggest hidden problems – contamination leading to misdiagnosis of bloodstream infections, including sepsis, which can lead to unnecessary and prolonged antibiotic therapy, and false-positive CLABSIs. Tomorrow, we aspire to create a world free of in-vitro diagnostic errors where rapid, accurate test results improve the lives of patients and providers alike.
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