KKR backs portable, hand-held ultrasound tech with $35M for startup Signostics

Signostics' Signos Bladder Scanner--Courtesy of Signostics

Private equity behemoth KKR is backing miniaturized ultrasound company Signostics with a $35 million investment. The financing is to back continued innovation, as well as marketing of new products. Just ahead of the deal, the startup also moved its domicile from Australia to Delaware and reestablished its headquarters in Kirkland, WA.

The company has a product portfolio with regulatory approvals across the U.S., EU and Japan. Its latest was the Signos Bladder Scanner, which was released in 2014 and offers ultrasound to automate bladder detection and volume calculation. Next year, the startup is slated to release a new, undisclosed ultrasound-based technology.

"KKR offers us the privilege of working with a highly regarded long-term capital partner which will enable us to create next-level innovations and beyond, aimed at greater disruption and democratization of the global ultrasound market," said Signostics CEO Kevin Goodwin in a statement. He joined the company earlier this year and was previously the CEO at Sonosite, which was acquired in 2012 by FujiFilm for almost $1 billion.

Signostics is focused on hand-held ultrasound technologyto be used at the point-of-care. It launched its first product, the first-generation Signos hand-held ultrasound device, in 2009. It expects to have a full lineup of portable, affordable ultrasound products. The current iteration of Signos was launched in 2013--which Signostics bills as "the smallest and most affordable portable ultrasound system." Signos Bladder Scanner followed with a release last September.

"We are thrilled to be investing behind such a visionary and accomplished team to support them in their continued development of innovative products that improve medicine and enable more efficient health care," remarked KKR Principal Justin Sabet-Peyman.

- here is the announcement

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