Italy-based medical device company Sorin Group has invested $8m in US-based heart treatment company Cardiosolutions on Tuesday.
Sorin also has an option to acquire the company in the future. Sorin joins venture firms STD Med and BioVentures Investors as an investor in Cardiosolutions.
Andre-Michel Ballester, chief executive of Sorin Group, said: “Mitral valve disease is significantly undertreated in the world today and patients are looking for less invasive therapies to address this problem. The investment in Cardiosolutions confirms Sorin’s commitment to continuously introduce innovation in the Heart Valve business and represents an important step forward in our long-term growth initiatives.”
In 2007 Cardiosolutions raised $7m in series A convertible stock from BioVentures Investors.