Apama Medical, A Shifamed Portfolio Company, Closes $3.2M Series A-1 Financing Round

CAMPBELL, Calif., Sept. 16, 2013 /PRNewswire/ -- Shifamed LLC, a medical technology incubator, announced today that Apama Medical, Inc., one of its privately held portfolio companies, has raised $3.2M in Series A-1 financing.

Broadview Ventures led the financing round and converted its initial investment to Series A-1 equity. Broadview is a Boston-based investment firm focused on accelerating the development of promising technology in cardiovascular and neurovascular disease through targeted investments in early stage ventures. 

"We are pleased to have the support of Broadview Ventures with its solid track record of successful investments," shared Amr Salahieh, Founder and Chairman of Shifamed. "In addition, we are grateful for the NSF SBIR Grant that helped fund our breakthrough technology. Apama Medical offers significant medical technology advancement to electrophysiology (EP) therapies and highlights Shifamed's commitment to improving medical procedures in large, proven markets."

Apama Medical, focused on the EP market, offers a vastly superior catheter-based solution for the fastest growing market segment, atrial fibrillation (AF) ablation, which is expected to reach $2.0B in 2017.

"Broadview has a long history of supporting promising medical technology," said Christopher H. Colecchi, Managing Director of Broadview Ventures. "Apama has developed a unique platform in the AF Ablation market. We are excited about continuing our relationship and optimistic about the long-term prospects."

About Shifamed

Shifamed LLC is a privately held medical technology incubator focused on developing new medical products from concept to commercial release. To learn more about Shifamed, please visit www.shifamed.com.

About Apama Medical

Apama Medical is a privately held medical device company formed by Shifamed LLC, a Silicon Valley based medical device incubator. Apama is focused on the rapidly growing electrophysiology (EP) market in which mapping and ablation are estimated to reach $2.0B in 2017. To learn more about Apama Medical, please visit www.apamamedical.com.

About Broadview Ventures

Broadview's mission is to accelerate the development of promising technology in cardiovascular and neurovascular disease through targeted investments in and support of early stage ventures. To learn more about Broadview Ventures, please visit http://www.broadviewventures.org.

MEDIA CONTACT:
Katie Arnold
SPRIG Consulting LLC
(408) 805-0520
[email protected]

SOURCE Shifamed LLC