$20.5m for sleep disorder co
This article was originally published in Clinica
Executive Summary
Sleep Solutions has secured $20.5m in new capital in a financing round led by the TPG Biotechnology II fund. The investment will be used to establish a US sales and marketing infrastructure and to advance development of new applications of the Sleep Solutions' home-based diagnostic system for obstructive sleep apnoea (OSA). The Pasadena, Maryland company's NovaSom QSG device, combined with the MediTrack patient management system, allows OSA patients to be monitored at home, thereby reducing the high costs of carrying out overnight sleep centre studies. According to Sleep Soltuions, the OSA diagnostic testing market is projected to exceed $3bn in 2008 and grow 20-30% annually for the next five years.