Novaerus Reaches Key Milestone with New Funding from Polaris Partners and Fidelity Biosciences
Novaerus, a company that improves the business and quality of healthcare through the application of plasma-based, airborne pathogen control technology, announced the successful completion of funding from two industry-leading healthcare investors – Polaris Partners and Fidelity Biosciences. The $10 million raise represents a key milestone in the company’s history and future growth. Novaerus received a previous investment from Oyster Capital Partners, an Ireland-based, global company which invests in information technology, healthcare and energy technology. Oyster will continue to remain the majority shareholder in Novaerus following this financing.
“Both Polaris Partners and Fidelity Biosciences are leading professional investment firms in the fields of biopharmaceuticals, medical technology and healthcare IT and services," says Bill McCabe, chairman and chief executive officer of Novaerus. "The fact that Novaerus has secured funding from both parties is a testament to our company, our people and the scale of the business opportunity we have before us. This investment will allow us to capture greater share in the long-term care market, while also establishing our position in adjacent healthcare markets.”
Proceeds from this latest round of financing allow Novaerus to continue to focus on its core business as well as to further its excellence in other areas: development and innovation of its product offerings, expansion of sales and marketing initiatives, and the opportunity to drive incremental growth and market share.
“Novaerus faces an outstanding business opportunity and has a very talented management team, strong infrastructure and solid business model,” says Brian Chee, managing partner at Polaris. “We have confidence in the company’s ability to scale and significantly impact the healthcare market, and are excited to work together as partners to deliver a platform that makes a difference in the care of patients and providers on a global basis.”
“Infection control is a critical issue facing the senior care market,” says Jon Lim, principal at Fidelity Biosciences. “Novaerus’ breakthrough technology is a unique and compelling solution to reduce airborne pathogens and keep medical costs down in these facilities.”
Source: Novaerus
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