Kaiser joins $42M medtech company financing round

Kaiser Permanente Ventures, the investment arm of Oakland, Calif.-based Kaiser Permanente, co-led a $42.5 million financing round for women's medtech company Gynesonics.

The company, which is focused on developing minimally invasive transcervical medical devices, plans to use the financing to expand commercial operations. Combined with its April 2023 funding, Gynesonics has raised $67.2 million, according to a Nov. 1 Gynesonics news release.

The company's flagship product, the Sonata System, is an FDA-cleared device for the treatment of uterine fibroids.

"With more than 275 million U.S. covered lives (including 19 of the top 20 commercial payers) covering Sonata and our new Category 1 code going live in January, we are excited to accelerate our commercial efforts in the U.S. as well as Europe," Gynesonics CEO and President Skip Baldino, said in the news release.

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