Cleveland Clinic leads $33M funding round for its medical tech spinoff

Cleveland Clinic led a $33 million funding round for medical technology company Centerline Biomedical. 

In its series B funding round, Centerline also brought in investors GE Healthcare, RIK Enterprises, JobsOhio, Jumpstart Ventures and G2 Group Ventures, according to a June 27 company news release. It said it will use the funding to create surgical applications, accelerate its commercial sales and add to its repository of clinical evidence.  

Centerline Biomedical is a Cleveland Clinic spinoff that is commercializing a new way for surgeons to guide catheters, guidewires and stents in the human body while minimizing dependence on radiation and contrast agents. 

The company spun off from the health system in 2014 and uses Cleveland Clinic's patented algorithms to generate a patient-specific vascular map combined with electromagnetic tracking and smart sensor-equipped surgical devices to provide 3-D color visualization and navigation of the human vascular system.

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