Keimar, patient monitoring company, to raise $9M

Keimar, a Mountain View company that has developed a patient monitoring device, has set out to raise up to $9 million for its first institutional financing round with new chief executive, Tom Holdych, at the helm.

The Series D round will be used to move the company to 510(k) regulatory approval, said Holdych. Keimar is looking for a minimum of $6 million, with the option of an additional $3 million. The company has been developing its product for six years.

Keimar has retained investment bank vFinance Inc., which has just started distributing the offering memorandum, Holdych said. “I anticipate closing at the end of this year or early January,” he said. (Source: VentureWire)

Note: Overall, medical device companies are doing well these days, relative to other start-ups. They are getting financial returns that their brethren (biotech, IT, etc) are having a hard time getting, and thus you are seeing more financing.

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