4C Medical Technologies today announced that it completed a $35.4 million Series C financing round and appointed Saravana Kumar as president and CEO.
The preferred stock financing round was led by MicroPort CardioFlow Medtech. As part of the closing, Kumar was appointed to lead the company after having served as interim president and CEO since March 2021.
“We are grateful for all the interest and support we received from our investors. The significant funds raised in the Series C round further emphasizes the importance of continuing to develop our AltaValve TMVR technology and highlight its differentiated design and ability to expand the treatable patient population using our streamlined procedures,” Kumar said in a news release. “The funds will also allow us to broaden our product portfolio with the initiation of our tricuspid program.”
Kumar previously served as VP of research & development and operations at the Maple Grove, Minnesota-based company. He also held numerous leadership roles at Conventus Orthopedics and St. Jude Medical.
“We are pleased to have someone as focused and goal-oriented as Dr. Kumar leading our company to the next growth stage, focusing on the further enhancement of our transseptal delivery system, including the introduction of the next generation low profile system, and continuing clinical evidence gathering for our AltaValve transcatheter mitral valve replacement device,” said Jeff Chambers, chairperson of the board.