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Wright Therapy Products Closes $3 million Financing Round

Friday, December 7, 2012 21:10

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Wright Therapy Products Inc., a provider of home-based solutions for patients suffering from lymphedema and venous insufficiency, announced today that they successfully closed a $3 million Series B financing round. The capital raise was primarily subscribed by high-net-worth angel investors through Eagle Ventures, based in Shadyside, PA.

“We are very excited to complete the B round,” said Michael Hinson, President and CEO of Wright Therapy. “This funding will allow us to continue expanding our solution across the entire U.S. Additionally, it will allow us to complete exciting new product development projects that we believe will lead to a significant competitive advantage in the marketplace by providing a unique treatment method for patients suffering from these life-altering diseases.”

Jim Liken, Chairman of Wright’s Board of Directors commented, “As a whole, our investors are very aware of the changing healthcare landscape and the need to provide cost-effective means to care for the patient. I believe that is what attracted the B round investors to Wright Therapy. Our ComplyCare™ solution is a disease management program focused on providing the most effective and compliant treatment for the patient which leads to the best clinical outcome.”

Wright Therapy Products, based in Oakdale, is a Joint Commission accredited medical device company that manufactures and sells pneumatic compression devices targeted for the home-based treatment of lymphedema and chronic venous insufficiency. The devices have received 510(k) Clearance from the U.S. FDA to treat these diseases. Our disease management program, ComplyCare™, is a comprehensive patient compliance program that helps to ensure the best clinical outcome for the patient while reducing the overall cost-of-care. Its founder invented the world’s first sequential gradient pump to treat a family member suffering from lymphedema and it continues to lead through innovation with a goal of providing the best treatment solution for patients afflicted with lymphedema or chronic venous insufficiency.