Fishers medtech startup lands more funding
Fishers-based Recovery Force Health said Thursday it has closed on a $1.25 million round of funding. The company has developed an FDA-cleared wearable compression device for hospital patients designed to prevent deep vein thrombosis.
RF Health’s MAC System is a cordless, battery-powered compression and mobility device that wraps around a patient’s calf and stimulates blood flow in the lower extremities. The company said its technology reduces a patient’s risk of developing blood clots after undergoing surgery.
Additionally, the device has a display that provides mobility data such as a step counter that caregivers can see in real-time.
The funding was provided by Indianapolis-based Elevate Ventures. CEO Christopher Day said RF Health has the qualities the venture capital firm looks for in an investment.
“They’ve built a strong, multidisciplinary team and a novel, game-changing solution to a major pain point in the acute care hospital setting,” Day said. “The company has derisked its technology to the point of execution. Elevate Ventures looks forward to watching RF Health rapidly scale and prove traction with early hospital customers.”
RF Health, which employs 22 people currently, said it plans to use the funding to onboard more hospital systems with the device, and introduce new products in its development portfolio, including a patient positioner and additional patient monitoring products.
The company did not provide a timeline for an introduction of the new products.
The funding from Elevate Ventures adds to $10 million Series A round that was completed in 2019, as well as more than $2 million in grants the company has received from the National Institutes of Health.