ControlRad Secures $15M Series B Funding to Commercialize ControlRad Trace System for Radiation Reduction in Fluoroscopy-Guided Procedures

VCBeat (WeChat Official Account: vcbeat) has learned that medical technology company ControlRad recently announced the completion of a $15 million Series B financing round, with healthcare industry veterans Ryan Drant and Tim Patrick joining its board of directors. The round was led by Questa Capital and will be used to drive the commercial launch of the innovative ControlRad Trace system.

ControlRad is a private medical technology company dedicated to developing innovative products that significantly reduce radiation exposure for patients and healthcare professionals during fluoroscopy-guided procedures (FGPs). ControlRad’s products are designed to enhance safety without compromising image quality or workflow. They consist of a suite of integrated, proprietary components that optimize the X-ray beam to deliver optimal image quality in clinically relevant areas while maintaining adequate resolution in peripheral regions. Headquartered in Atlanta, Georgia, ControlRad also maintains an engineering and development facility in Kfar Saba, Israel.

Ryan Drant, Founder and Managing Partner of Questa Capital, stated, “The opportunity to invest in ControlRad underscores our commitment to funding and supporting technologies that have a direct impact on the health and safety of patients and healthcare workers. Guillaume and his team have recently made significant progress in securing regulatory approvals and achieving initial clinical adoption. We look forward to the company’s growth and to enabling every hospital to reduce radiation exposure and its potentially devastating consequences, such as cataracts, cancer, and stroke.”

ControlRad Trace is the first FDA-approved technology that can be integrated into existing mobile C-arms to reduce radiation in any FGP procedure. With its proprietary translucent filter, tablet, and image processing technologies, the ControlRad Trace solution can be retrofitted onto existing C-arms, thereby lowering barriers to adoption. It reduces radiation exposure by up to 89%, protecting patients and healthcare workers without compromising image quality or workflow.

Guillaume Bailliard, CEO of ControlRad, stated, “As we begin to launch ControlRad Trace and build our commercial organization, the investment from Questa Capital, along with Ryan and Tim joining the Board of Directors, will be invaluable. Both companies have a strong track record in launching innovative technologies and building outstanding teams.”

Ryan Drant has served on the boards of directors of more than 30 private companies, including Epix Therapeutics, Cartiva, NeoTract, Radiology Partners, DSI Renal, Ulthera, Aclarent, Proxima Therapeutics, and FoxHollow Technologies. He is also a board member of the Medical Device Manufacturers Association (MDMA) and the National Venture Capital Association (NVCA), and has been named to the Forbes Midas List four times. Prior to founding Questa Capital, Drant was a partner at New Enterprise Associates.

Tim Patrick has over 30 years of successful leadership experience in general management and product commercialization within the medical device industry. Most recently, Mr. Patrick served as President, Chief Executive Officer, and Co-Founder of Cartiva, a company acquired by Wright Medical. Prior to founding Cartiva, Mr. Patrick served as President and Chief Executive Officer of Proxima Therapeutics and as President of Gesco International.

Questa Capital is a venture capital and growth equity firm focused on investing in expansion-stage healthcare companies. Questa seeks technology-driven, disruptive business models that help improve patients’ lives, address market inefficiencies, and deliver higher-quality care. The company collaborates with senior management teams to help build innovative market leaders in the fields of health technology, healthcare services, and medical devices. Led by industry veterans with deep expertise in healthcare investment and operations, Questa has invested in and advised more than 45 growth-stage companies.

(Compiled by Tan Jiulin)