Watermark Medical, a medical products and services company specialising in sleep-disordered breathing, has completed a USD6m equity investment from Ballast Point Ventures.
Ballast Point Ventures will hold a minority stake in Watermark Medical and one seat on Watermark’s board of directors along with CA Technologies, which led the round with a USD15m investment earlier this year.
“We made this investment because Watermark Medical has best in class technology along with a management team in whom we are confident will transform the emerging sleep industry,” says Dick Brandewie, managing partner of Ballast Point Ventures. “Our successful investment history with Sean Heyniger and his team, with their innovative healthcare expertise, presents an exciting opportunity for our firm.”
“With this additional capital from Ballast Point Ventures we will further the deployment of our advanced, web-based technology platform,” says Sean Heyniger, chief executive of Watermark Medical. “As our technology is increasingly incorporated into the day-to-day functions of the medical community, benefits for the physician and patient will include an overall reduction in health costs and increased accuracy in tracking long term health and wellness of patients.”
Watermark Medical is a sleep diagnostics provider in the emerging Software-as-a-Service-based healthcare cloud market focused on obstructive sleep apnea.
