Fantine led the round. MCS systems reduce the risk of deep vein thrombosis.
Medical Compression Systems (MCS) today announced that it had completed a $2 million financing round. The Fantine Group led the round.
MCS develops, manufactures, and markets miniature mobile pneumatic compression systems to reduce the risk of deep vein thrombosis for vascular care, wound care, and orthopedics. The system, applied to a patient's limbs following surgery, contains a miniature compressor and smart sleeve that applies measured pressure on the vascular system. 1,300 units have been sold to date to hospitals in Israel and Japan. MCS has also recently begun marketing in the US, through a strategic agreement with Hill-Rom, a subsidiary of Hillenbrand (NYSE:HE), which has over $2 billion in sales a year. Hill-Rom will buy and exclusively distribute the system among 4,500 hospitals and medical centers in the US. MCS estimates the agreement will boost its sales to NIS 100 million over the next four years.
MCS has raised $5 million in previous financing rounds, at a company value of $10 million. The company's main shareholder is Nissan Medical Industries (TASE:NISA), with a 41% stake. Earlier reports stated that MCS would have NIS 9 million in sales in 2003, compared with NIS 2 million in 2002.
Published by Globes [online] - www.globes.co.il - on December 24, 2003