(Atlanta, GA) – EndoChoice Inc, an emerging leader in GI Endoscopy products and services, announced today that River Cities Capital Funds led its Series A financing round. EndoChoice will use the funds to accelerate their growth as they provide an efficient marketplace to the clinical staff within the highly fragmented medical market of GI endoscopy.
"Two things attracted us to EndoChoice. The first is a world-class management team that brings leadership experience from GI-focused companies like Given Imaging and Boston Scientific. The second is research that confirms market demand for a company that can help GI departments deal with the pressures of increasing procedures, declining reimbursements, and growing customer and product fragmentation. We are pleased to partner with EndoChoice to help them advance their mission of becoming a market leader that can help gastroenterologists and their colleagues focus on their patients and not on administrative issues," said Rik Vandevenne, Principal of River Cities Capital Funds and new EndoChoice board member. Joining Rik on EndoChoice’s board is Ed McCarthy, a Managing Partner of River Cities Capital Funds.
River Cities manages $390 million in four private equity funds that focus primarily on providing expansion-stage equity to healthcare and information technology companies. Their team brings to bear a broad range of functional expertise cultivated in prior careers in consulting, engineering, operations management, investment banking, legal and accounting.
“With more than 20 million endoscopy procedures in the US each year, and thousands of products used daily, we have a great opportunity to make our customer’s lives much more efficient.” said Mark Gilreath, founder and chief executive officer of EndoChoice. “We are extremely pleased to partner with
River Cities as we accelerate our growth and bring new efficiencies to endoscopy departments throughout the United States.”
Endoscopy’s ONE-STOP SHOP is now EndoChoice, the most trusted partner in endoscopy for supplies, devices, equipment, and services. Providing endoscopy products since 1992, the Company leverages an efficient web-based channel, resulting in a dramatically improved customer experience. Designed to improve the efficiency of the clinical staff, EndoChoice customers enjoy the simplicity of ordering endoscopy supplies in one place, having trusted access to pricing, and accessing utilization reports--all at the click of a button. The Company is headquartered in Atlanta, Georgia. For more information, visit www.endochoice.com