SurgiQuest, a medical device manufacturer based in Milford, Connecticut, secured $7.5 million in a Series D round of financing. In addition, the company was able to security an $11 million credit facility. This is a total of $18.5 million in Series D financing.
SurgiQuest designs technology for use during laparoscopic procedures. The company’s systems feature proprietary technology that facilities the removal of electrosurgical smoke. By removing this smoke quickly and easily, SurgiQuest’s technology is able maintain a clear field of vision for endoscopic imaging tools during surgery.
The company signed an agreement with Intuitive Surgical in 2009 to incorporate its specialized AirSeal technology into Intuitive’s da Vinci robotic surgery system. The AirSeal technology is directly integrated into a single-use disposable laparoscopic access system that is used by the company’s robotic surgery systems.
According to a press release, $7.5 million of the $18.5 million in funding came from existing investors at the company. The additional $11 million credit facility came from Ares Capital Corporation.
Kurt Azarbarzin is CEO and founder of SurgQuest. In a press release, he stated that the additional funds would be used to expand the company’s organizational capabilities. By expanding these, he states that SurgiQuest will be able to meet the increasing demand for AirSeal systems around the world.