— Poised for Growth and Expansion of LifeFlow Throughout U.S. —
DURHAM, N.C., November 15, 2022 — 410 Medical, Inc., a medical device company developing innovative technologies for emergency and critical care, announced today it has closed on a Series B financing of $6.3 million led by Hatteras Venture Partners, with participation from new and existing investors including Orlando Health Ventures, OSF Healthcare, and WakeMed. 410’s lead product, LifeFlow®, is designed to enable clinicians to more effectively and efficiently deliver blood and IV fluids to critically ill patients.
“Over the past three years, in spite of the challenges that COVID-19 presented, we have launched LifeFlow PLUS for rapid blood and IV fluid delivery and signficantly grown our user base to more than 130 hospitals and EMS agencies across the U.S.,” said Kyle Chenet, CEO at 410 Medical. “This new funding will be instrumental in accelerating the development of LifeFlow ARS, our next generation LifeFlow infuser, while continuing to expand and standardize LifeFlow use in hospital and pre-hospital environments nationwide, ensuring more patients can receive time-sensitive blood and IV fluids.”
Severe sepsis affects over 1 million adults and children each year in the U.S. It is the most frequent cause of death in hospitalized patients and the leading killer of children worldwide. In the U.S. trauma is the leading cause of death in individuals less than 45 years old. In sepsis, trauma, and other conditions that lead to hypotension and shock, rapid delivery of blood or IV fluid is a life-saving therapy, yet with traditional infusion methods providers often fail to achieve published fluid delivery guidelines. Since FDA clearance in 2016, LifeFlow has been adopted at many leading healthcare systems in the U.S., including Orlando Health.
“At Orlando Health our mission is to improve human health by supporting innovative healthcare products and services,” said Bobby Helmadag, Managing Director at Orlando Health Ventures. “With clear clinical support from our physicians, we are excited to partner with 410 Medical to implement LifeFlow at Orlando Health while supporting expanded use throughout the U.S.”
About 410 Medical, Inc.
Founded in 2013, 410 Medical is a medical device company dedicated to developing innovative products that enable frontline medical providers to improve care for critically ill patients. 410 Medical’s first product, LifeFlow, is designed to enhance the speed and efficiency of fluid resuscitation, improving care for patients with life-threatening illnesses such as sepsis and shock. LifeFlow was cleared by the FDA for human use in 2016. For more information, visit www.410medical.com.
About Hatteras Venture Partners
Hatteras Venture Partners is a venture capital firm based in Durham, N.C., with a focus on seed and early stage opportunities across the health care continuum from transformative therapies to disruptive technologies. The firm has seven funds and over $750 million in capital commitments under management. Hatteras is led by a seasoned team of entrepreneurs and operators and has a long and successful track record of seed and early stage investing and company formation. To learn more about Hatteras Venture Partners, please visit www.hatterasvp.com.
About Orlando Health Ventures
Orlando Health Ventures is the venture arm of Orlando Health, a not-for-profit healthcare organization with $8.1 billion of assets under management that serves the southeastern United States and is headquartered in Orlando, Florida. Orlando Health is a 3,238-bed system with 23 hospitals and emergency rooms – 18 of which are currently operational with five coming soon. The system also includes nine specialty institutes, more than 100 adult and pediatric primary care practices, skilled nursing facilities, an in-patient behavioral health facility under the management of Acadia Healthcare, and more than 60 outpatient facilities that include imaging and laboratory services, wound care centers, home healthcare services in partnership with LHC Group, and urgent care centers in partnership with FastMed Urgent Care. More than 4,000 physicians, representing more than 100 medical specialties and subspecialties, have privileges across the Orlando Health system, which employs more than 25,000 team members and more than 1,200 physicians.
About OSF Ventures
OSF Ventures specializes in venture optimization, partnering financially and operationally in companies that improve patient outcomes and reduce costs to health care systems. OSF Ventures is a division of OSF HealthCare. More at www.osfventures.org.
Media Contact:
Carla Hoffman
choffman@410medical.com