Minnesota, USA-based company specializing in the ultrasound-guided treatment of common orthopedic syndromes affecting the extremities, Sonex Health, closed its Series B financing at USD 40 million. The company announced the investment on September 14, 2023. KCK MedTech, a venture capital firm specializing in medical technology investments, led the financing for the firm in its Series A and Series B rounds.
In addition, the company also announced the closure of its new debt facility with venture lender Horizon Technology Finance Corporation.
Purpose of financing for Sonex Health
With the latest proceeds, Sonex Health seeks to significantly expand access to the company’s groundbreaking commercially available devices leveraging ultrasound guidance to safely and effectively treat patients suffering from the debilitating pain caused by carpal tunnel syndrome (CTS) and trigger finger (TF) and allow those patients to rapidly return to normal activities.
What the company’s officials have to add
Bob Paulson, president and CEO of Sonex Health, said, “We appreciate the continued support and confidence from KCK MedTech and Horizon. With this funding, we will continue expanding hand surgeons’ access to ultrasound-guided technologies that effectively treat the significant pain and discomfort of patients suffering from CTS and TF, as well as continue to rapidly expand real-world clinical evidence demonstrating the clinical and health-economic benefits of providing treatment with ultrasound guidance.”
What the investors have to comment
In addition, Karen Long, senior managing director of KCK MedTech, said, “We are excited to continue our support of Sonex Health as the company continues to expand access to minimally invasive treatment solutions for patients who have opted out of more invasive procedures. Highly positive patient and surgeon experiences are a strong indication that carpal tunnel release using ultrasound guidance is poised to become the standard of care.”
About Sonex Health
Darryl Barnes, MD Jay Smith, MD and business operations expert Aaron Keenan founded Sonex Health in 2014. The company is a pioneer in innovative ultrasound-guided therapies. It treats common orthopedic conditions affecting the extremities, such as entrapment neuropathies and tendinopathies.
The company’s proprietary devices allow surgeons to leverage real-time ultrasound guidance to visualize critical anatomy throughout procedures. It, therefore, reduces both invasiveness and the cost of care and enables patients to return to their normal activities sooner. The company’s first commercial device, UltraGuideCTR™, treats carpal tunnel syndrome and received FDA clearance in 2019.
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