LDD Closes Series A for Turner Imaging Systems
LDD, a full-service life sciences consulting firm, announced today completion of a Series A fundraise for Turner Imaging Systems, an Orem-based medical device company that has developed a portable mini C-arm called Smart-C™.
Weighing only 16 pounds, Smart-C is a first-of-its-kind portable x-ray device which allows medical personnel to perform imaging of a patient’s extremities at the point of care — whether in a hospital, clinic or athletic arena or in the field for military and humanitarian missions.
Smart-C is a battery-powered mini C-arm device that can be hand carried directly to patients to perform full fluoroscopic and radiological imaging on-location. Because it is cordless and has a detachable, articulating arm, the Smart-C can be maneuvered to capture high-definition images from virtually any angle and then transmit those images wirelessly. The device has a wide variety of applications, including orthopedic surgery, pain management, sports medicine, veterinary medicine, the military and forensics, and humanitarian aid.
In September 2019, Smart-C received 510(k) clearance from the U.S. Food and Drug Administration and is now ready for commercial launch.
“Smart-C has the potential to make a significant impact in a variety of large-scale and specialty scenarios in healthcare,” says Ron Heffernan, investment banker and CEO of LDD. “We are pleased to have been involved in this successful fundraising effort and are excited to continue supporting Turner in commercializing this transformative device.”
Turner will be presenting the device at the Radiological Society of North America (RSNA) meeting in Chicago in early December. Smart-C is the first device in a pipeline of products that will employ similar technologies for portable, wireless imaging.
“Smart-C will revolutionize how and where doctors use x-rays,” said D. Clark Turner, Ph.D., founder and CEO of Turner Imaging Systems. “With the ability to acquire x-ray images whenever and wherever they are needed, Smart-C is a true point-of-care technology.”
Turner is planning to open a Series B round in 2020 to support growth and expansion.
About LDD
LDD is a full-service life sciences consulting firm offering seed-to-exit advisory services that help companies optimize the likelihood of success, from concept to commercialization. LDD and its affiliates provide startup and small-to-medium life sciences enterprises a comprehensive toolkit, including investment banking, product development consulting, payer perspectives and reimbursement advisory, commercialization strategy, and accounting services. For more information, visit LDD.com.
About Turner Imaging Systems
Turner Imaging Systems develops and markets x-ray imaging systems that give the user the ability to acquire x-ray images wherever and whenever they are needed. Its latest product, the SMART-C, is a fully functional mini-C-arm system that is battery operated and hand-transportable, improving the way fluoroscopy is performed. Its products expand the reach of x-ray imaging to the underserved and humanitarian efforts around the world. For more information, visit www.turnerxray.com.