Privately held CT imaging and robotics company Epica International said yesterday it raised $12.2 million.
The San Clemente, Calif.-based company said the funding came from healthcare investment group SWK Holdings, and includes a second, milestone-dependent $1.8 million traunch, which the company said it hopes to receive in early 2019.
“We are pleased to partner with Epica International with this nondilutive financing. We are impressed with the depth of the management team, sales execution in existing product verticals, and product roadmap that may lead to entering the human imaging and robotic market in coming years,” SWK Holdings CEO Winston Black said in a press release.
Epica said it also reported sales of $24.1 million for its 2017 fiscal year, with an EBITDA of $2.2 million.
Epica is developing CT systems it says will show never seen before soft-tissue and hard-tissue imagery and robotic systems intended for use in imaging and creating prosthetics.
“Our R&D activities, coupled with the use of the SWK proceeds, are both focused on the launch of our unique CT imaging platform into the human market and the further development of our robotic surgery platform, which represents a fusion of CT imaging + robot guidance,” CEO Frank D’Amelio said in a prepared statement.