Radiaction Medical, a medical device company which aims to provide radiation protection to the entire medical staff during interventional procedures has raised $12.6 million in Series C2 funding led by U.S. private equity fund InnovaHealth Partners with participation from additional co-investors.
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Funding raised
The company has also elected Christopher Barys to serve on its board of directors. Barys joins the organisation with 30+ years of medical device sales, marketing, and business experience, including leading growth and innovation within the cardiac catheterisation and image-guided spaces.
Radiation exposure within the catheterisation lab presents significant occupational health risks. Studies have shown an increased risk for brain tumours, breast cancer, cataracts, cognitive degradation, thyroid disease, foetal exposure, and orthopaedic injuries when exposed to ionising radiation. The need for advanced solutions is imperative.
The Radiaction system is an advanced technology to proactively block radiation at the source, providing comprehensive, head-to-toe radiation protection to the entire interventional team while allowing unencumbered patient care, access, and service. Radiaction is clinically supported with extensive lab testing and real-world, peer-reviewed, published literature validating its performance in clinical settings.
Barys said: “I am thrilled to be a part of Radiaction’s mission to provide advanced radiation protection to the entire procedural staff. Now more than ever, the medical community needs innovative solutions to pressing systemic problems. Radiaction is disrupting the industry for the better. I am looking forward to supporting Radiaction in bringing its radiation reduction solution to every catheterisation lab in the U.S. and abroad.”
Radiaction is expanding its footprint in the United States, adding new sites to its user base, providing support staff to ensure the success of each system installation, developing additional features, and growing its clinical publication pipeline to support the technology’s performance with clinical data.
Jonathan Yifat, Radiaction CEO, said: “This current financing round is a significant step forward, one that enables us to expand our reach further, lead with exceptional customer support, and provide this essential technology to protect those who care for patients. The addition of Christopher Barys is a tremendous asset to the strategic composition of our Board of Directors. Chris has a proven track record of market development and growth within the interventional space we aim to serve. He brings a keen eye for strategic opportunities and will help guide our company through its next stages of growth.”
