7D Surgical completed a round of financing described as its largest secured to date. The financing will provide 7D with capital to grow existing operations, further develop new products and continue its expansion into international markets.
This investment follows its successful commercialization in the U.S. and recent launch into Southeast Asia. The company also received CE Mark approval for its Machine-vision Image Guided Surgery system for spine procedures. Launch in Europe is slated for later this year.
7D's technology is similar to GPS navigation in self-driving vehicles, creating a three-dimensional image for surgical navigation in seconds and resulting in shorter and more efficient spinal and cranial procedures.
FLASH™ Navigation uses only visible light, eliminating patient and staff exposure to intraoperative radiation. It uses novel and proprietary camera-based technology, with machine-vision algorithms as an alternative to legacy surgical navigation platforms. Benefits of speed, accuracy and efficiency combine with a streamlined surgical workflow to provide economic value and harness the true potential of image guidance.
"The latest investment into 7D Surgical clearly demonstrates the confidence in our strategic direction," said Beau Standish, Chief Executive Officer. "It will allow our team to meet the demand for our products as we aggressively scale our international footprint and continue the development of our strong innovation pipeline. We are thrilled to share our machine-vision surgical innovations with the global healthcare community."