Medical Device Maker Receives $24 Million in Financing

Molecular imaging systems manufacturer Gamma Medica-Ideas Inc. received $24 million in financing to bring its digital products to new markets and expanding into current markets. The financing was comprised of $14 million in equity capita from the Psilos Group and Capital Resource Partners; $5 million in mezzanine debt from Capital Resource; and a $5 million revolving line of credit from Bridge Bank.. With the financing Gamma will bring its digital imaging technology into clinical markets to provide improved diagnosis at a lower cost. The company’s initial product is the LumaGEM, an imager that improves diagnosis of cancers in women with dense breast tissue. The company is aggressively marketing the LumaGem, which has been cleared by the FDA, said Gamma co-founder, President and CEO Bradley Patt. “The knowledge and expertise that Psilos and Capital Resource Group bring to the company in healthcare, medical instrumentation and women’s health will add tremendous value as we penetrate the clinical market,” Patt said. Mark R. Madler