20/20 HealthCare Partners Announces $12 Million Investment in Corindus

AUBURNDALE, Mass.--(BUSINESS WIRE)--20/20 HealthCare Partners LLC is pleased to announce that its portfolio company, Corindus, Inc., closed a B Round investment taken solely by a New York based hedge fund / private equity fund specializing in the healthcare industry. Corindus will use the financing to enhance its management structure, complete product development and obtain regulatory approvals in the US and Europe.

“20/20 HCP had the early vision of the tremendous potential impact this technology would have on the delivery of consistent quality in the CathLab at an ever safer environment to the doctor and patient; realizing the potential led to 20/20 HCP funding the A round.”

The initial funding round led by 20/20 HealthCare Partners in September 2005 enabled Corindus to progress from an early stage company through development of a sophisticated, fully functional robotic catheterization system for the CathLab.

20/20 HCP Managing Partner, Hillel Bachrach says, “20/20 HCP had the early vision of the tremendous potential impact this technology would have on the delivery of consistent quality in the CathLab at an ever safer environment to the doctor and patient; realizing the potential led to 20/20 HCP funding the A round.”

About 20/20 HealthCare Partners LLC

20/20 HealthCare Partners LLC provides equity financing for promising growth businesses as well as for buyouts or recapitalizations of established companies specializing in the Medical Technology industry.

20/20 HealthCare Partners works with management to streamline product development, regulatory approval and market penetration. Their group of industry experienced professionals is able to introduce portfolio companies to strategic partnerships. Their relationships help expedite the product development cycle and shorten the time to market – and increase company value.

20/20 HCP provides portfolio companies with tools such as active support in strategic vision, development of distribution channels, an impressive network of industry contacts, and years of industry expertise to achieve maximized growth and value leading to a potential realization. For more information, please visit www.2020hcp.com or call 617-244-9050.

About Corindus

Corindus designs and manufactures patented robotic systems developed to support the treatment of coronary artery and peripheral vascular disease. The company’s proprietary robotic technology, The CorPath™ robotic PCI system, enables physicians to position interventional devices and deliver balloon/stent catheters with precision from a remote location beyond the radiation zone. Corindus is committed to providing innovative robotic navigation technologies to the interventional cardiology and peripheral vascular fields. The CorPath™ System requires regulatory clearance and is currently used for investigational purposes only.