Daily News: August 31, 2012

Pinnacle Medical Gets Growth Capital From Meritus

Pinnacle Medical Solutions said it has received a substantial equity investment in a financing round led by Meritus Ventures, a rural business investment company.

The financing comprised several smaller institutional investors and several individual investors, including one of the company’s founders.

The investment capital will be used to add key management team members, to expand the company’s sales force, to diversify the company’s product offering, and to establish relationships with an expanded array of managed care companies.

Southaven, MI-based Pinnacle distributes insulin pumps and blood glucose monitoring supplies for people with diabetes in Mississippi, Alabama, Tennessee, Arkansas, Louisiana and Georgia.

Meritus Ventures is currently the only rural business investment company in the U.S.