Optomeditech Gets $ 2.5 Million in Funding and CE-Mark for its OptiVein® System to Increase First Attempt Success Rate in IV Catheter Insertion

HELSINKI and ATLANTA, December 10, 2014 /PRNewswire/ --

Optomeditech Ltd (http://www.optomeditech.com ) today announced a $ 2.5 million funding round led by Lifeline Ventures and Sitra, The Finnish Innovation Fund. Earlier this year, the company secured the ISO 13485 Quality Management System certificate and CE-mark for its OptiVein® system, issued by BSI from United Kingdom as the Notified Body.

Although cannulation is the most common invasive procedure in healthcare, more than 30% of the first attempts fail. This leads into patient discomfort, damaged veins and significant additional costs as more needle sticks than one are needed. OptiVein® system increases the first attempt success rate.

"Increased first attempt cannulation success rate is good for patients, doctors, nurses and hospitals. Every catheter insertion attempt costs a minimum of $ 30, and there are more than one catheter inserted per person in the US each year," commented Amiel Rubinstein, chief executive.

OptiVein® works by integrating a light guide into the IV catheter needle. As the needle tip penetrates the surrounding tissue, the light provides illumination for better information on the vein location. As the needle tip penetrates the vein, the light disappears immediately to signal the exact moment of penetration.

About Optomeditech  

Optomeditech Ltd is the developer of OptiVein^® , the light-guided intravenous catheter system to increase the first attempt success rate in IV cannulation - the most common invasive procedure in healthcare. OptiVein^®was first invented by company's founder working as an ambulance physician, experiencing the difficulty of IV cannulation in demanding conditions in the back of the ambulance. For more information visit http://www.optomeditech.com

About Lifeline Ventures 

Lifeline Ventures is an early-stage investor focusing on health, games, web and advanced technology. The team of serial entrepreneurs believe in strong founders and high-risk, high-reward concepts aiming at global category leadership. Lifeline Ventures has invested in over 40 companies, including Oncos Therapeutics, Supercell, Applifier, Valkee and Moves app. For more information visit http://www.lifelineventures.com

About Sitra 

The Finnish Innovation Fund Sitra is a future-oriented organisation that promotes Finland's competitiveness and the well-being of the Finnish people. We anticipate societal change, try out new operating models and accelerate business activities aimed at creating sustainable well-being. For more information visit http://www.sitra.fi

SOURCE Optomeditech Ltd