Trice Medical closed the first portion of an $11.6 million series B financing round and appointed Jeffrey F. O'Donnell Sr. to the role of chairman and CEO.
Mr. O'Donnell has served as executive chairman since Trice's founding in 2011.
The round was led by Safeguard Scientifics, with participation from BioStar Ventures and other existing investors.
Proceeds from the funding will support Trice's efforts to commercialize and market its initial diagnostic arthroscopy product — mi-eye. Mi-eye is a fully disposable, single-use, streamlined visualization device that can perform a diagnostic arthroscopy, while in the physician's office during the initial consultation.
More Articles on Devices:
5 Key Results: LDR's Mobi-C Artificial Disc Replacement vs. ACDF
FDA Clears AccelSPINE's Next Generation Minimally Invasive Spine System
Global Medical Device Market to Grow at 6.2% Annually Until 2018