Interrad Medical Inc. has raised $1.9 million from the sale of equity, according to documents filed with the Securitie & Exchange Commission.
Last July, the Food & Drug Administration approved Interrad’s SecurAcath Universal Subcutaneous Catheter Securement System, which allows doctors to secure catheters in the tissue just below the skin without using sutures or adhesive devices. By firmly holding a catheter in place, the technology can reduce catheter-related infections, the company says.
In addition to founder Dr. Michael Rosenberg, Interrad’s board of directors includes Hubbard Broadcasting Corp. CEO Stanley Hubbard. The Minnesota-based media company has holdings that include KSTP Channel 5 and KS95 radio station in the Twin Cities.
Overall, the Plymouth, Minn.-based company is seeking $6 million, according to the SEC filing.