Signostics Medical, maker of a small, portable ultrasound device, has raised $4 million in capital from Playford Capital, Brandon Capital Partners and Terra Rossa Capital. The Palo Alto, Calif., company says the money will go toward marketing its product for assessment of bladder, abdominal and basic obstetric conditions following its recent approval by the Food and Drug Administration.
Signostics has raised $13 million to date and just launched a device for veterinary applications. Due to their size, the company's ultrasound machines are not only easier to move than their traditional cousins, they are much cheaper, retailing for $4,000 as opposed to $150,000.