Stratus Medical, a new company created to focus on advancing radiofrequency (RF) ablation treatment for chronic pain, has announced that it completed a private placement to acquire the assets of NimbusRF from Biomerics and provide growth capital funding to support the continued global expansion of the Nimbus RF Multitined Expandable Electrode for chronic pain. The investment was led by Med Venture Holdings.
Nimbus was developed to address the unmet need for an easy to use, efficient, cost-effective RF device that provides a large volume and optimally shaped lesion, which interventional pain specialists, orthopaedic surgeons and neurosurgeons can use to treat pain. Nimbus has been shown to reduce procedural time and increase efficiency for hospitals and surgery centres where Nimbus is utilised. The Nimbus device is US Food and Drug Administration (FDA) cleared and CE marked. Nimbus has been utilised in over 100,000 patient treatments in Australia, Brazil, Canada, USA, UK and other countries.
Bret Boudousquie, Stratus Medical CEO offered, “The rapidly growing global radiofrequency (RF) ablation for chronic pain market has been asking for innovation and Nimbus is well positioned to become the market leader in this space to treat chronic pain. Nimbus offers a highly differentiated and patented technology to meet the needs of patients and physicians alike. With the financial support and expertise from our lead investor, Med Venture Holdings, we will accelerate the global sales and marketing efforts of Nimbus and fund development of our new product pipeline.”
Travis Sessions, Med Venture Holdings Managing Partner commented, “We see great value in the interventional pain medicine space as so much emphasis is being placed on reducing the use of narcotics and improving interventional therapies to address chronic pain and improve quality of life. We have been involved with the Nimbus product line for some time and have seen an excellent response from physician users, hospitals and ASC customers. Under Bret’s proven leadership, we expect Nimbus to increase its global presence and Stratus Medical to bring innovation to the interventional pain space.”