LAZA MEDICAL, INC., A SHIFAMED PORTFOLIO COMPANY, CLOSES $36M IN SERIES A FINANCING

Company accelerates development of its AI-powered robotically-assisted imaging solution for cardiovascular interventions and appoints seasoned medtech executive as General Manager 

LOS GATOS, Calif., Dec. 12, 2023 /PRNewswire/ -- Laza Medical, Inc., the latest Shifamed portfolio company, announced today that it has closed $36M in Series A financing. Laza Medical is developing an imaging solution for cardiac interventions enabled by artificial intelligence (AI) software and state-of-the-art robotics. Led by The Capital Partnership (TCP) with financial participation from GE HealthCare, PA MedTech VC fund, Unorthodox Ventures, and Dara Holdings, funds will be used to accelerate product development and further expand the team. Additionally, the company announced the appointment of seasoned medtech executive, Pablo Garcia, as General Manager.

"The closing of this significant financing round validates the large, unmet need Laza's solution will address, and we are grateful for the strong support of our investors," stated Amr Salahieh, Founder of Shifamed and Chairman of Laza Medical. "I am delighted to have Pablo join and lead Laza at this important time. His wealth of knowledge and expertise in both digital products and robotics will be critical as Laza drives towards its upcoming milestones."

Mr. Garcia joins Laza as General Manager and brings over two decades of medical device development and leadership experience. Previously, he served as the Vice President of Digital Solutions for Johnson & Johnson and was the technical co-founder of Verb Surgical, a strategic venture between Google and Johnson & Johnson to develop a surgical robotics platform.  In 2020, this venture was acquired by Johnson & Johnson to be part of their medical robotics portfolio.

"I am excited to join the Laza team and look forward to advancing this comprehensive imaging solution so that interventional operators can safely and efficiently tackle complex cases," stated Garcia. "We have assembled a strong team with expertise in robotics, software, artificial intelligence, and medical imaging, and are committed to bringing this much needed innovation to market."

Structural heart and electrophysiology are two large and rapidly growing segments of the interventional cardiology market. Ultrasound imaging is necessary to guide these interventional cases, yet lack of resources makes it also a leading factor limiting growth. Laza aims to optimize procedural workflows and elevate the standard of imaging for these procedures. The company's solution is designed to enable top-quality imaging and advanced procedure navigation for a broad population of clinicians through a simple user interface.

"Obtaining high quality images of the heart is critical to improving diagnostic confidence and guiding cardiac interventions," said Dagfinn Saetre, General Manager, Cardiovascular Ultrasound, GE HealthCare. "We appreciate the opportunity to participate in this funding round for Laza Medical, who is working to pioneer innovative AI, robotics and ultrasound technology to help overcome some of the most pressing cardiac imaging challenges facing clinicians today."

About Laza Medical, Inc.
Laza Medical is a privately held portfolio company of Shifamed, LLC., a highly specialized medical innovation hub founded by serial entrepreneur, Amr Salahieh. The company is focused on developing a high-quality AI-powered robotic imaging solution for cardiovascular interventions. For more information, visit www.lazamedical.com.

MEDIA CONTACT:
Charlene Herndon
SPRIG Consulting LLC
[email protected]

SOURCE Laza Medical, Inc.

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