Kaiser Permanente Ventures, the corporate venturing division of the eponymous US healthcare provider, has backed eye device company Transcend Medical as part of a $51m funding round.
The portfolio company raised the second tranche of its series B round, having previously raised $35m in its first close in 2009. The company also raised $9.4m in its series A round in 2006, according to news provider VentureBeat.
As well as Kaiser Permanente Ventures, Transcend was backed by Investor Growth Capital, the growth unit of the Swedish holding company, as well as venture firms Canaan Partners, Finistere Ventures, HLM Venture Partners, Latterell Venture Partners, Morgenthaler Ventures, Split Rock Partners and Technology Partners.
Transcend was the first company to spin out from Forsight Labs, an incubator of ophthalmic innovations, and treats glaucoma, a common cause of blindness.