CardioPrecision was spun out of the NHS through Scottish Health Innovations (SHIL), now known as InnoScot Health. The equity financing has been led by existing investors, principally London & Scottish Investment Partners, Discovery Investment Fund and Scottish Enterprise. This bridging round of equity investment will allow the business to begin rolling out its technology post-pandemic. InnoScot Health is also participating in this latest funding round.
Graham Watson, executive chairman at InnoScot Health, said: “CardioPrecision has a platform technology for advancing cardiovascular solutions with the potential to significantly improve outcomes for patients. We are delighted to support the company and its management team as it pushes towards getting its lifesaving technology to market.”
Ying Sutherland, chief executive of CardioPrecision, said: “We are grateful to all our investors for their continued confidence in the management team and the CoreVista technology. The company is committed to delivering growth and increasing shareholder value.”
Kerry Sharp, director of entrepreneurship and investment at Scottish Enterprise, said: “Scotland is globally renowned for its strengths in life sciences because of its innovative companies, incredible talent and world-class universities. CardioPrecision is a great example of that strength in action, and we are pleased to continue our support for this early-stage exciting company breaking new ground in such an important field.”
Quest Corporate served as corporate financial advisor and Burness Paull LLP as legal advisor to CardioPrecision.