MolecuLight has secured a $27.5m investment from Hayfin Capital Management, aimed at propelling the company’s growth across multiple healthcare settings in Europe, Canada, and the US.
The investment will facilitate the company’s continued expansion in hospital in-patient and out-patient clinics, independent wound care clinics, long-term care centres, mobile care units, skilled nursing facilities, and podiatrists.
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MolecuLight’s fluorescence imaging devices claim to be ‘revolutionising’ the detection and treatment of infections in healthcare.
By offering real-time visualisation of harmful bacteria in wounds, these devices enable clinicians to make more informed decisions, leading to ‘improved’ patient outcomes and minimised healthcare expenses.
Hayfin managing director Andrew Merrill said: “We are excited to partner with MolecuLight and support their continued growth. MolecuLight’s imaging device is a best-in-class product with broad market traction and a strong R&D and product development pipeline.
“These attributes importantly create a unique solution for an unmet need in the wound care space that is transformative for patients, providers, and the healthcare system as a whole and make it an ideal fit for our investing strategy.”
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By GlobalDataMolecuLight ‘streamlines’ workflows and enhances ‘documentation accuracy’ by providing a tool that combines bacterial detection, wound measurement, and imaging capabilities.
MolecuLight CEO Anil Amlani said: “We are thrilled to partner with Hayfin, a leading global alternative investment manager which has extensive investment experience in companies focused on wound care.
“This investment will enable us to accelerate our goal of improving how wounds are treated worldwide. We will further expand our footprint to reach more healthcare providers and patients while continuing to develop additional cutting-edge features including thermal imaging, 3D wound visualisation, and other unique feature sets that will be announced over the next six months.”
Tungsten Advisors served as the exclusive placement agent for this offering.
This funding follows the company’s Series C financing round announced in August last year, where the company raised $11.7m to accelerate its international market expansion.
