- Capital Raised: $1,000,000
- Structure: Convertible Debt Coupon 10%
- Offering Price/Share: $10,000
- Shares Offered: $250,000 Preferred
- Post Offering Valuation: $5,000,000
- Post Offering Shares Out: 20,000,000
Reverb Medical is developing a line of stand-alone devices that help maintain patency of systems moving biological fluids. The flagship product is an elegant attachment for a surgical chest tube. The company is a spin out of the Baywater Investment Mangement project portfolio, in close collaboration with a renowned, international private health system based in the US
Briefing
Drainage tube patency, especially in chest tubes, has recently garnered increasing attention from the clinical sector. Evidence of its impact on outcomes is mounting. Controlled studies point to increased risk of major complications associated with occluded chest tubes; stroke, atrial fibrillation, renal failure, cardiac arrest and others. This adds an estimated $7000+ of embedded cost per case, having major financial implications for high-volume medical centers. Currently, over 540,000 surgical cases require chest tube placement each year in the US. In addition, the market is poised for growth with increasing use of implantable devices like LVADs. One in three chest tubes develop occlusion, nearly 90% of which are never detected because they occur within the body cavity, hidden from view.
Reverb Medical is seeking equity or convertible debt investment to fund crucial proof of optimization work that will drive partnerships with marketing partners, ultimately leading to acquisition. This is the first in a series of product platforms that this health system would like to see commercialized through partnership with Baywater Investment Management and their investors. Therefore, the company seeks investors with an interest in a long term partnership around the pipeline of commercial medical product opportunities.