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Venture capital firm Frist Cressey Ventures announced the closing of an oversubscribed $425 million Fund IV, bringing its total assets under management to almost $1 billion.
The firm says the fund will expand its platform and "founder-support capabilities." Fund IV will also enable the firm to continue investing in early-stage healthcare technology companies focused on care delivery.
"This milestone reflects the clarity of purpose, conviction, and deep commitment of our team, investors, and portfolio companies, all united by a shared mission to advance innovation in healthcare that improves lives and keeps patients at the center of everything we do," Sen. Bill Frist, cofounder and managing partner at Frist Cressey Ventures, said in a statement.
"As we enter this next chapter, we're excited to build strong, transformative, and enduring partnerships – and to serve as a trusted partner to the leaders and companies shaping the future of patient-centered care."
Health tech sleep platform ProSommus Sleep Technologies has secured a $38 million strategic investment from Catalio Capital Management.
The San Francisco-based company offers a tech-enabled non-CPAP Obstructive Sleep Apnea therapy, including intraoral medical devices with remote patient monitoring and data-enabled diagnostics.
The company will use the funds to scale its sleep health platform internationally.
"This $38 million commitment provides the strategic financial framework to scale our core infrastructure while maintaining a relentless focus on the patient," Jason Orchard, CFO of ProSomnus, said in a statement.
"By directing capital into advanced remote monitoring and rigorous clinical validation, we are ensuring our growth is measured not just by market share, but by demonstrable patient outcomes. These investments allow us to lower the cost of care, increase treatment efficacy, and create a sustainable model for both our shareholders and the patients we serve."
AI-enabled compliance and reimbursement platform Rainfall Health closed a $15 million Series A funding round led by Two Bear Capital, alongside other investors.
The company will use the funds to expand its AI workforce and customer support team.
"Hospitals have a tremendous opportunity to increase their revenues by delivering high-quality post-acute care that includes consistent check-ins, clear patient instructions, and clinician follow-ups," Eddie Qureshi, CEO and founder of Rainfall Health, said in a statement.
"By building out our AI and implementation teams, we will ensure our partners take advantage of this opportunity with CMS while delivering a consistent patient experience. This funding is a vital step for Rainfall as we continue to build the country's first recognized standard for outcome-based care."
Tech-enabled respiratory care company Synchrony Medical has closed an oversubscribed $5 million funding round led by Edge Medical Ventures.
The New Jersey Economic Development Authority (NJEDA), Broadfin Holdings, Consensus Business Group (CBG) and angel investors also participated in the round.
The company also announced the appointment of Kevin Kotler, general partner of Broadfin Holdings, and Elad Duschak, strategic advisor to CBG for Healthcare, to its board of directors.
The funding will be used for commercial expansion in the U.S., product development and scaling its FDA-cleared LibAirty Airway Clearance System, as well as supporting clinical research.
"This funding enables us to advance our mission of delivering meaningful clinical outcomes by bringing effective, easy-to-use airway clearance into more homes and empowering patients to manage their respiratory health," Anat Shani, CEO of Synchrony Medical, said in a statement.
"Supported by our exceptional investors and new board members, we're well positioned to scale our U.S. market presence, expand our clinical evidence base, and advance product innovation."
