Littleton, CO and Seattle, WA – Aug. 20, 2014
dBMEDx™ , Inc., a privately-held, wireless medical device company, announces the closing of a capital raise of $1.3 million through the sale of common stock, the company’s third successful capital raise. In addition, the company announces that it has been selected to present at the Colorado BioScience Association’s 2014 BioWest Venture Showcase on September 10.
The proceeds from the round will be used to commercialize the BBS RevolutionTM device, an automated bladder volume measurement device which will be the company’s first released product. The device is typically used for the management of in-hospital urinary catheters to avoid catheter-associated urinary tract infections (CAUTI). CAUTI is the most common type of healthcare-associated infection with an estimated 500,000 cases per year, each of which can increase the hospital stay by 2-4 days. The associated hospital costs, estimated at $350 million per year in the US, are typically not reimbursed and, as a result, the market for bladder volume measurement devices continues to show strong growth.
“The BBS RevolutionTM device will bring unparalleled ease of use and accuracy to a market that is ready for innovative solutions and primed for continued growth.” said David Shine, CEO of dBMEDx™ .
dBMEDx™ was also selected as one of three companies to present at the Venture Showcase competition at the 2014 BioWest meeting in Denver, Colorado sponsored by the Colorado BioScience Association. BioWest is the Rocky Mountain region’s premier medical device and biotechnology conference and the company will be competing for a cash prize.
About dBMEDx™ , Inc.
dBMEDx™ is a medical device company that is developing novel, automated scanning devices for a wide range of medical applications. The company has developed the world’s smallest, wireless 3D ultrasound scan engine with integrated image analysis capability. This device architecture overcomes many of the limitations of traditional imaging technology to create devices that can be used with very little training. The patented dBMEDx™ architecture automatically collects and analyzes the image data and presents the user with a numeric result, bringing the power and safety of ultrasound-based diagnosis to all medical professionals. For additional information, please visit www.dBMEDx.com.
David Shine, CEO