Funding: SurgiQuest locks up $18.5 million

SurgiQuest closed an $18.5 million Series D financing round, raising funds through a mix of equity and debt financing.

The Milford, Conn.-based medical device company develops technology for laparoscopic procedures, with features designed to remove electrosurgical smoke and keep endoscopic imaging instruments’ field of vision clear.

In 2009, the company signed a deal with Intuitive Surgical (NSDQ:ISRG) to incorporate its AirSeal technology into a disposable laparoscopic access system for use with Intuitive’s da Vinci robot-assisted surgery system.

SurgiQuest officials said the company raised $7.5 million from existing investors and secured an $11 million credit facility from Ares Capital Corp, according to a prepared release.

Kurt Azarbarzin, founder and CEO of SurgiQuest said the additional funds will enable the company to expand its organizational capabilities "to meet the rapidly increasing worldwide demand for the AirSeal System."