MMI Raises $110 Million in Series C Financing

Largest Ever Investment in Microsurgery will Further MMI’s Mission to Transform Open Surgery with Robotic Technology MMI (Medical Microinstruments, Inc.), a robotics company dedicated to increasing treatment options and improving clinical outcomes for patients with complex conditions, today announced that it has raised $110 million in Series C financing. The round, led by Fidelity Management & Research Company, marks the largest-ever investment in microsurgery innovation. The funds will support the commercialization of the Symani Surgical System in high-growth markets and continued investment in studies that generate clinical evidence and enable indication expansion. Investments will also accelerate advanced technology capabilities and enable MMI to scale its operational capabilities globally. MMI and its existing investors, all of whom contributed to the Series C financing, see considerable opportunity for rapid growth. The company projects the market for eligible robotic microsurgical procedures will grow from 3 million to 22 million annually by 2028, driven primarily by technological advancements and indication expansion. “Against a backdrop of plateauing investments in medical robotics, this support builds on our confidence in a new, less invasive solution for open surgery, a significant market that can benefit from the smallest wristed microinstruments,” said Mark Toland, CEO at MMI. “Our Symani Surgical System is uniquely positioned to expand patient access...
Source: EMR and HIPAA - Category: Information Technology Authors: Tags: Health IT Company Healthcare IT Andera Partners BioStar Deerfield Management Fidelity Management & Research Company Fountain Healthcare Partners Health IT Funding Health IT Fundings Health IT Investment Mark Toland Medical Microinstr Source Type: blogs