NEW YORK,NY. (March 3, 2015 – draft) – Deerfield today announced the close of a $57 million senior preferred equity financing in EndoChoice. Deerfield led a group of new and existing investors in the financing. Proceeds will go toward continued expansion of sales and marketing efforts of the Fuse Full Spectrum Endoscopy® platform; Fuse has demonstrated in a peer-reviewed publication a lower adenoma miss rate relative to standard forward-viewing colonoscopy and may improve the efficacy of colorectal cancer screening and surveillance.
“We are delighted to be able to lead this growth financing for EndoChoice,” said Steven Hochberg, Partner at Deerfield. “This is a unique opportunity to invest in a company that has a broad range of Gastrointestinal products and services, a track record of 7 years of growth, and an exciting, new endoscopy technology that promises to improve clinical outcomes while lowering healthcare costs.”
“As a growth company, the addition of Deerfield and the other new investors to our team provides us with further momentum to enhance our Company’s capabilities,” said Mark Gilreath, Founder and CEO at EndoChoice. “We are well positioned to expand our commercial and product development efforts to ensure that more patients around the world will benefit from this potentially life-saving technology.”
Deerfield is an investment management firm committed to advancing healthcare through investment, information and philanthropy. For more information, please visit www.deerfield.com.
Based in the Atlanta GA area, ECPM Holdings, LLC (EndoChoice) is a medtech company focused on the manufacturing and commercialization of platform technologies including endoscopic imaging systems, devices and infection control products and pathology services for specialists treating a wide range of gastrointestinal conditions, including colon cancer. EndoChoice leverages its direct sales organization to serve more than 2,500 customers in the United States and works with distribution partners in 25 countries. The Company was founded in 2008 and has rapidly developed abroad and innovative product portfolio, which includes the revolutionary Full Spectrum Endoscopy System (Fuse). The Fuse colonoscope uses three cameras to provide GI specialists with a 330 degree field of view as compared to the 140 to 170 degree field of view from standard colonoscopies, while the Fuse gastroscope uses two cameras to provide a 245 degree field of view as compared to the 150 degree field of view provided by standard gastroscopes. For more information, please visit www.endochoice.com.
Deerfield Management Company
Karen Heidelberger, 212-692-7140