Standard Bariatrics Secures $7M Debt Facility with Silicon Valley Bank







Standard Bariatrics secures $7MM debt facility with Silicon Valley Bank

Standard Bariatrics, a Cincinnati, OH-based medical gadget firm, raised $7M in debt financing.

Silicon Valley Bank offered the funding. The debt facility offers $7 million in time period loans of which the primary $4 million was funded at closing.

The firm intends to make use of the funds to speed up industrial efforts for the Titan SGS® surgical stapler and associated proprietary medical gadgets designed for bariatric surgical procedure.

Led by CEO Peter Donato, Standard Bariatrics is a medical gadget firm centered on the event and commercialization of merchandise for the surgical remedy of weight problems. Driven by a bunch of surgical, the  group works hand in hand with bariatric surgeons to develop and launch options designed to handle the rising international epidemic of weight problems. Cleared by the U.S. Food and Drug Administration (FDA) a yr in the past on April 28, 2021, the Titan SGS surgical stapler meets the brand new stringent Class II product rules for surgical staplers.

Standard Bariatrics is supported via early funding from Jobs Ohio, North Coast Angel Fund, Accelerant, Queen City Angels, CincyTech, Series A lead traders RiverVest®, Hatteras Venture Partners and Emergent Medical Partners, and Series B traders U.S. Venture Partners (USVP) and RC Capital.

FinSMEs

10/05/2022






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