CardioMEMS raises $14 million round

Nov. 20, 2003 — CardioMEMS Inc., an Atlanta developer of wireless medical devices for management of heart disease and other medical problems, announced closing on $14 million in Series B funding.

New investor Boston Millennia Partners led the round. Foundation Medical Partners, Guidant Corp., Johnson and Johnson Development Corporation, Arboretum Ventures and other investors also participated.

CardioMEMS will now focus on clinical trials and commercialization, according to a news release. The company’s president, David Stern, also said in a prepared statement that the funds will allow for accelerated research and development efforts on next-generation designs.

As part of the deal, Robert Mashal of Boston Millennia Partners and Lee Wrubel of Foundation Medical Partners will join the CardioMEMS board of directors.


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