Square 1 Bank Provides $5MM Credit Facility to Vascular Pathways
Square 1 Bank provided a $5 million credit facility to new client Vascular Pathways Inc., a nationally recognized medical device manufacturer specializing in wire-guided Peripheral Intravenous catheter technology. Proceeds of the credit facility will assist in commercializing the Company’s proprietary peripheral, AccuCath Intravenous Catheter.
The AccuCath Intravenous Catheter System, developed by Vascular Pathway’s founder Dr. Amir Belson, offers guidewire PIV technology which has revolutionized vascular access devices. Through the device’s AccuTip™ nitinol guidewire, atraumatic vessel access is provided for safe and effective catheter deployment. This innovative device is designed to reduce complication rates and increase first attempt success rates resulting in lower costs for healthcare providers and an increase in patient satisfaction.
“We are excited to be partnering with Square 1 on our mission to dramatically improve vascular access outcomes,” said Bill Bold, President and CEO of Vascular Pathways. “This round of financing is an important milestone for our Company, as recent published clinical evidence proves that the AccuCath® Guidewire IV Catheter System positively impacts outcomes for patients, payors and providers alike,” added Bold.
Mara Huntington, managing director at Square 1 Bank, added, “With investor backing from MVM, Ascension Ventures and CHL Medical Partners, Vascular Pathways has established itself as a pioneer in the vascular access devices industry. We look forward to supporting the company’s future growth and commitment to patient care through safer, cost-effective solutions.”