ControlRad raises $15M in financing
An Atlanta-based medical device company working to reduce radiation exposure during fluoroscopy has picked up $15 million in funding to fuel further growth.
ControlRad announced Oct. 2 that it obtained a second round of financing from investment firm Questa Capital. The privately held technology firm said it will use those dollars to finance the commercial launch of its ControlRad Trace solution.
The FDA-approved system can be attached to an imaging practice’s existing mobile C-arm to help reduce radiation exposure during fluoroscopically guided procedures. ControlRad said that its Trace system can reduce such risk to patients and providers by 89% using its proprietary semi-transparent filter.
ControlRad also announced that Ryan Drant, Questa Capital’s founder and principal, is joining the company’s board of directors alongside industry vet Tim Patrick.
Marty Stempniak has covered healthcare since 2012, with his byline appearing in the American Hospital Association's member magazine, Modern Healthcare and McKnight's. Prior to that, he wrote about village government and local business for his hometown newspaper in Oak Park, Illinois. He won a Peter Lisagor and Gold EXCEL awards in 2017 for his coverage of the opioid epidemic.