Thursday, September 27, 2012

Freedom Meditech Gets $2M In Credit Line

San Diego-based Freedom Meditech, a developer of opthalmic medical devices being used to detect disease and measure patient health, said Thursday that it has secured a $2M line of credit. The credit line came from Silicon Valley Bank. Terms of the credit line were not announced. Freedom Meditech said it would use the funding to ramp manufacturing and distribution of its products. According to the company, the line comes in anticipation of a Series B financing close by the company; details of that funding have yet to be announced. Freedom Meditech's medical devices measure the crystalline lens of the human eye, as a way to detect chronic diabetes. The device uses blue light to evaluate a patient's health in a non-invasive way. More information »

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