Midwest Interventional Closes Funding Round
Midwest Interventional Systems (MIS) recently announced the completion of Series A financing with a group of experienced private healthcare investors.
The Series A Round, overshadowed by original expectations, will allow MIS to accelerate the vertical integration of capabilities and continue its growth trajectory and support expansion initiatives that better serve its customers, according to the Maple Grove, Minnesota-based company .
MIS provides custom turnkey solutions for the design, development and manufacture of complex catheters and other minimally invasive delivery systems. The company did not provide any information about the amount of the money.
“This investment allows us to expand our cleanrooms, develop specialized skills and add key team members to support our growing base of MedTech customers,” said Adam Ahmad, President and CEO of MIS, in a press release. “These improvements help us strengthen our partnerships with customers serving the structural heart, neurovascular, electrophysiology, ENT, coronary and peripheral interventions end markets.”
MIS recently expanded its 25,000 square foot facility to include Class 7 cleanrooms, research and development facilities, test labs, corporate offices and flexible spaces. The additional capacity will allow MIS to reduce lead times and offer a new source of medical extrusions and balloons.
“Our new investors provide access to long-term capital that enables MIS to implement our strategic goals,” added Ahmad. “To this end, we expect an estimated 20 high-tech jobs to be created in 2021 and another 60 by 2024.”