New round will help fuel commercialization efforts in support of ImpediMed’s platform technology for the detection and monitoring of lymphedema.
ImpediMed, a leader in medical technologies to clinically monitor and manage fluid and body composition, announced an agreement for a five-year $15 million growth capital facility with SWK Holdings, a life science-focused specialty finance company catering to small- and mid-sized commercial-stage companies. Funds raised will provide ImpediMed with funding flexibility and will be used to support growth and commercialization activities. Armentum Partners acted as the Company’s exclusive financial advisor on this transaction.
With this new funding in place, ImpediMed’s capital base is well equipped to support the continued execution of its commercial strategy. As a result, the company is better positioned than ever to achieve its long-term goals and create significant value for its shareholders.
As a pioneer in the field of lymphedema detection and monitoring, ImpediMed offers the only FDA-cleared bioimpedance spectroscopy (BIS) technology for the clinical assessment of breast cancer-related lymphedema (BCRL) –– the SOZO® Digital Health Platform. ImpediMed’s platform is broadly accepted and recognized for effective and accurate screening of lymphedema, with U.S. health payors now providing coverage for over 258 million covered lives.
Lymphedema, a common consequence of cancer treatment, is challenging to detect before symptoms appear. ImpediMed’s SOZO® Digital Health Platform uses BIS to identify fluid changes early, enabling intervention before lymphedema becomes a chronic condition. With growing adoption in clinical practice and increasing payor coverage, ImpediMed’s innovative approach is transforming lymphedema management.
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In 2024, the National Accreditation Program for Breast Centers (NABPC) updated its accreditation standards to include lymphedema prevention programs utilizing BIS as an evidence-based guideline for managing lymphedema. The NAPBC is a quality program of the American College of Surgeons, and accredited programs must understand, implement, and demonstrate compliance with accreditation standards outlined in Optimal Resources for Breast Care. This recognition further validates BIS as a critical tool in lymphedema management and presents a significant opportunity for ImpediMed to expand its reach, driving broader adoption of the SOZO Digital Health Platform across breast cancer centers nationwide.1
“We are pleased with our agreement with SWK Holdings and the confidence they have shown in ImpediMed, as well as in the future of our SOZO Digital Health Platform,” said Dr. Parmjot Bains, MD, CEO & Managing Director of ImpediMed. “SWK’s proven approach of supporting innovative healthcare companies makes them an ideal partner for us as we pursue our commercial growth strategy over the next five years. We are confident with the business’ direction, and this was reinforced throughout our due diligence process. In conjunction with our existing cash reserves, this facility gives us the time and funding flexibility required to execute on our business plan and fully capitalize on the BCRL opportunity.”
“We believe that the SOZO Digital Health Platform is revolutionizing how clinicians assess and manage fluid and body composition, ultimately improving patient outcomes,” said JD Tamas, Director of Underwriting at SWK Holdings. “We are excited to provide this capital to support ImpediMed‘s continued mission to improve the lives of patients by pushing the boundaries of what’s possible in fluid and tissue analysis.”
Source: PRNewswire