Finance

Althea Technologies closes $23 million financing

Published in Medical Device Business Week, February 7th, 2007

Althea Technologies, Inc. has secured a $23 million dollar Series C investment through private equity funds managed by Telegraph Hill Partners.

A portion of the proceeds from the investment will be utilized to fund Althea's aggressive expansion plans with the remainder reserved for general corporate and strategic purposes.

Co-president and Co-CEO of Althea Technologies Francois Ferre stated, "We are very pleased with the significant investment made by Telegraph Hill Partners in Althea and the confidence this conveys. This is an exciting milestone for the company and will allow us to dramatically expand our infrastructure, bolster our service...

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Source: Medical Device Business Week (2007-02-07)

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