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HAMILTON, Ontario–(BUSINESS WIRE)–Bay Area Health Trust (bayareahealthtrust.com), a Hamilton, Ontario based company that operates life science businesses with the goal of returning value to its beneficiaries including Hamilton Health Sciences announced it has signed an agreement to provide an undisclosed amount of capital to Mariner Endosurgery (“Mariner”).
In December 2018, Mariner, an innovative Canadian medical device company received FDA clearance for its LaparoGuard™ Augmented Surgical Navigation system for use in US operating rooms. Hospitals and surgical facilities will now be able to incorporate this game-changing surgical navigation system. Mariner will use the proceeds to provide working capital and to build out additional LaparoGuard sites in both Canada and the United States.
“We are very pleased with the addition of our strategic investors on board with Mariner. The support from an institutional investor and the Hamilton life sciences community will accelerate our strategic growth plans,” commented Mitch Wilson, President & COO of Mariner Endosurgery.
LaparoGuard is currently in a clinical trial at Hamilton Health Sciences’ General Hospital led by Dr. Niv Sne, trauma surgeon proficient in advanced laparoscopic cases and Associate Professor of Surgery at McMaster University.
“We look forward to this being the start of more to come for Bay Area Health Trust, our Business Development Office and for the larger Hamilton life sciences community. Mariner is a shining example of what can be accomplished when a world class innovation eco-system works together as close as the one in Hamilton does,” said Peter Kalra, President and CEO of Bay Area Health Trust.
Bay Area Health Trust’s Business Development Office, which led the negotiation on this transaction, is responsible for identifying and expanding business opportunities with prospective partners be they internal affiliates or external corporations.
About Bay Area Health Trust
At the intersection of health, life sciences and business, Bay Area Health Trust is an example of a successful partnership between hospitals and the for-profit private sector. Operating life science businesses with the goal of returning value to its beneficiaries, Hamilton Health Sciences, Hamilton Health Sciences Foundation and McMaster University Bay Area Health Trust promotes entrepreneurship and invests in growth-oriented businesses to support patient care. More information can be found at www.bayareahealthtrust.com.
About Mariner Endosurgery
Mariner Endosurgery Inc. is a Hamilton-based company that develops and commercializes innovative computer-assisted medical devices for future-facing laparoscopic surgeries. Their flagship product LaparoGuard is a novel soft-tissue surgical navigation platform that augments visualization and is designed to enhance the safety profile to assist surgeons in delivering a superior quality of care to their patients.