Daily News: June 25, 2014

Square 1 Bank Provides Vascular Pathways Facility

Square 1 Bank announced it provided a $5 million credit facility to new client Vascular Pathways. Proceeds of the credit facility will assist in commercializing the company’s proprietary peripheral, AccuCath Intravenous Catheter.

The AccuCath Intravenous Catheter System, developed by Vascular Pathway’s founder Dr. Amir Belson, offers guidewire PIV technology which has revolutionized vascular access devices. Through the device’s AccuTip nitinol guidewire, atraumatic vessel access is provided for safe and effective catheter deployment. The device is designed to reduce complication rates and increase first attempt success rates resulting in lower costs for healthcare providers and an increase in patient satisfaction.

“We are excited to be partnering with Square 1 on our mission to dramatically improve vascular access outcomes,” said Bill Bold, president and CEO of Vascular Pathways. “This round of financing is an important milestone for our company, as recent published clinical evidence proves that the AccuCath Guidewire IV Catheter System positively impacts outcomes for patients, payors and providers alike,” added Bold.

Mara Huntington, managing director at Square 1 Bank, added, “With investor backing from MVM, Ascension Ventures and CHL Medical Partners, Vascular Pathways has established itself as a pioneer in the vascular access devices industry. We look forward to supporting the company’s future growth and commitment to patient care through safer, cost-effective solutions.”

Vascular Pathways is a medical device company focused on improving outcomes for patients and healthcare providers globally.