TissueLink Medical, a Dover, N.H., developer of systems that limit blood loss during surgery, raised $20 million from insiders in a fifth funding round, VentureWire reports (subscription required).

From the VentureWire report:

Existing investors RiverVest Venture Partners and TLM Investors LLC, a group headed by Anthony Arnerich, chief executive of consultancy Arnerich Massena & Associates Inc. led the round, said John Landry, controller of TissueLink.

TissueLink’s coagulators and sealers use electric energy conducted through a saline solution to close up surgical incisions and stop bleeding in tissue and bone. The company, founded in 1999, named Joseph Army as its new CEO earlier this week, following the retirement of co-founder M. Jacqueline Eastwood.

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