Advanced Cardiac Therapies lands $45m round led by new PE shop Ajax Health

Ajax Health, the medical device portfolio management company newly formed by KKR and Aisling Capital, led a $45 million round for Advanced Cardiac Therapeutics and the next-generation ablation catheter it’s developing. Earlier today the private equity giants launched tapped Spirox chairman & CEO Duke Rohlen to lead Ajax Health. Rohlen, the former president of FoxHollow Technologies and the founder & former chief executive of CV Ingenuity, is also CEO at ACT. That Santa Clara, Calif.-based company said existing backer New Enterprise Assoc. and new investor Questa Capital Management also participated in the round, which is earmarked for a clinical program aimed at winning regulatory nods in the U.S. and Europe. “I am extremely pleased with the significant financial commitment that Ajax, NEA, and Questa have made to ACT in this funding round,” Rohlen said in prepared remarks. “Their support provides further validation of our technology, our leadership team, and our strategy to develop a next-generation, workhorse product to treat patients suffering from atrial fibrillation and other cardiac arrhythmias. We are thrilled to partner with these blue-chip investors as we accelerate into large clinical studies and regulatory approvals.” ACT said it tapped Dr. Philippe Henri Marco, former CV Ingenuity president & COO, to fill that role at ACT. “Dr. Marco is the perfect fit for us,” Rohlen said. “We previously wor...
Source: Mass Device - Category: Medical Equipment Authors: Tags: Cardiovascular Catheters Funding Roundup Wall Street Beat Advanced Catheter Therapies ajaxhealth New Enterprise Associates questa Source Type: news