iF Client Mariner Endosurgery receives investment from Bay Area Health Trust

Mariner Endosurgery is an Innovation Factory client and the 2nd place winner of the 2016 Synapse Life Science Competition.


Note: This article originally appeared on Business Wire.  To read the original posting visit this link.


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.

 

Share this article
Facebook
Twitter
LinkedIn
WhatsApp
Email
View All Categories

Featured iF Clients

14th Annual LiONS LAIR Pitch Competition and in-person Gala on September 26, 2024 from 5:00pm to 9:00pm. Tickets available on lionslair.ca

Attend the 14th annual LiONS LAIR pitch competition

Since 2011, Innovation Factory’s LiONS LAIR has helped more than 150 startups launch and scale their businesses. This fall, join over 350 entrepreneurs, investors and thought leaders to network over dinner and drinks, celebrate innovation, and watch finalists pitch live to a panel of judges to win cash and in-kind prizes.

When: September 26, 2024 | 5:00pm – 9:00pm 

Where: LiUNA Station – 360 James St. N, Hamilton, Ontario L8L 1H5

Celebrate BIG ideas that make a bigger impact at The Big DiF, Innovation Factory’s annual open house and client showcase. Join 250+ people from the Hamilton-Halton community to celebrate entrepreneurship and innovation.

Join Innovation Factory's Annual Open House - The Big DiF!

Network with 250+ industry professionals, discover emerging solutions from our innovators, and celebrate entrepreneurship within the Hamilton-Halton ecosystem.

May 9, 2024 | 4:00pm – 8:00pm | Hamilton, Ontario