Standard Bariatrics a Cincinnati, OH-based medical devices company, raised $7M through debt financing.
Silicon Valley Bank provided funding. The debt facility provides $7 million in term loans of which the first $4 million was funded at closing.
The company intends to use the funds to accelerate commercial efforts for the Titan SGS® surgical stapler and related proprietary medical devices designed for bariatric surgery.
Standard Bariatrics’ CEO Peter Donato is the head of the medical device company. It specializes in the development and commercialization products for the surgical management of obesity. The organization is driven by a group surgical surgeons who work hand in hand with bariatric doctors to create and release solutions to the global obesity epidemic. The U.S. Food and Drug Administration (FDA), cleared the Titan SGS surgical stapler on April 28, 2021.
Standard Bariatrics is supported through early investment from Jobs Ohio, North Coast Angel Fund, Accelerant, Queen City Angels, CincyTech, Series A lead investors RiverVest®, Hatteras Venture Partners and Emergent Medical Partners, and Series B investors U.S. Venture Partners (USVP) and RC Capital.