angelMD announced the closure of a new syndicate investment in Saranas, a promising new medical device startup. Dan Parsley, angelMD’s SVP of Corporate Development, served as the syndicate leader for this first investment in Saranas by angelMD members, and this angelMD syndicate is part of Saranas’ recently announced $4 million Series B financing round.
Saranas is working to create a way to quickly and accurately diagnose complications in vascular access procedures, while lowering patient and provider costs. Every year, twenty million American patients undergo these procedures to provide longer term access for intravenous (IV) medical treatments, and as many as a million of these patients experience life-threatening complications as a result of an inability to quickly account for problems like internal bleeding. These issues cost patients and providers a collective $8.4B dollars each year.
Parsley stated, “With the growth of value-based insurance reimbursements combined with the increasing popularity of intravenous heart procedures, patients and doctors are demanding better procedural outcomes. This innovative real-time bleeding detection device by Dr. Razavi is designed to be integrated directly into common catheter sheaths, and I’m confident many existing cardiac medical device companies will see the immediate value of this technology.”
Saranas is angelMD’s first investment of technology originating from the prestigious Texas Heart Institute at the Texas Medical Center.
Saranas CEO Zaffer Syed said, “We are thrilled to be adding angelMD to our investor base. With access to physician investors, angelMD brings a strong track record of adding real value to its portfolio companies. This Series B financing reflects a deep commitment to Saranas’ innovative approach for enhancing patient outcomes during vascular access procedures.”
Parsley concluded, “Saranas has the management team and an experienced board that will be able to see this innovative technology through FDA clearance, and we are excited to help this company grow and become an industry leader.”