Turning innovation into health. Venture Investors seeks the next big things in healthcare. Based in the Midwest with open access to renowned research universities, and the vibrant communities that surround them, we target, uncover, and invest in extraordinary ideas that will shape the future of health and wellness. With decades of proven success, we’re fueling the future of what’s driving healthcare. Today, we have over $200 million in assets under management.

Venture Investors

Baird Capital makes venture capital, growth equity, and private equity investments in strategically-targeted sectors around the world.  The company values its creators who identify exceptional opportunities and partners with senior industry executives to build world-class companies. Its in-depth sector knowledge, deep relationships with entrepreneurial management teams, and global network of 60 investment and operating professionals in the United States, the United Kingdom, and Asia help ensure that the company consistently drives value in its portfolio companies.  Baird Capital was founded on January 1, 1919 and is based in London, United Kingdom.

Baird Capital

RCC is a growth equity firm building high-potential healthcare companies by leveraging the unique interplay of our segments of focus: medical device, healthcare services and healthcare IT. We are dedicated to investing on the right side of healthcare, growing companies that enable clinicians to improve the delivery of care and the experiences and outcomes for patients. We seek to be a business partner first and a capital provider second, investing significant human capital to leverage our domain expertise, a network of healthcare thought leaders and deep relationships with health systems assembled over our 28-year history.  With more than $900 million of capital raised and a consistent track record, the firm has established itself as a preferred source of growth capital.

RC Capital

Vensana Capital is a venture capital investment firm that focuses on healthcare with breakthrough innovations in medical technology. The firm was founded in 2018 and is based in Minneapolis, Minnesota, United States.

Vensana Capital

Elucent Medical

Elucent Medical is a new idea in breast cancer treatment that exists to bring better healthcare ideas to light through the collective efforts of proven entrepreneurs in medicine, technology, and business. Its aim is to raise the bar for breast cancer treatment while lowering costs, making procedures accessible and affordable for providers and patients alike. Elucent Medical is based in Minneapolis, MN

Elucent Medical is a pioneering medical device company based in Eden Prairie, Minnesota, dedicated to developing state-of-the-art surgical navigation solutions. The company's flagship products, EnVisio and SmartClip, offer intelligent spatial guidance (iSG) for precise navigation during surgical oncology procedures. EnVisio leverages proprietary technology that converts existing surgical tools into smart, navigated instruments that can be tracked in real-time with millimeter precision. Initially optimized for breast cancer treatment, EnVisio's adoption has expanded to other soft tissue oncology surgeries. SmartClip, a surgical tool designed to facilitate precise navigation within the body using stereotactic technology, eliminates the need for additional imaging. Both products enable surgeons to accurately remove cancerous tissue while preserving healthy tissue, improving surgical outcomes. As of August 2023, EnVisio had been used in over 8,000 breast cancer patients. Elucent Medical is currently developing products for lung and other soft tissue clinical applications that integrate with existing tools, including video and robotic-assisted medical technologies. In April 2024, the company secured USD 42.5 million in Series C funding to further propel the commercialization of its technologies. Additionally, in August 2023, Elucent Medical expanded its operations with a new 27,000-square-foot state-of-the-art facility in Eden Prairie, featuring research and development labs, manufacturing capabilities, and a dedicated customer training center.

Private company analysis for Elucent Medical

Elucent Medical Expands Operations with New Facility in Eden Prairie, Minnesota

Elucent Medical Secures $42.5m Series C Funding

Elucent Medical triples its space with Eden Prairie expansion

A Developing Story: Elucent Medical Began Developing Surgical Tools with Jama Connect™ in Less Than a Week

Elucent Medical, Inc

Elucent Medical receives over $42 million in funding

Pushing the envelope in MedTech with emerging technologies

Next-gen Medical Devices

Elucent Medical raises $42.5M for cancer-surgery navigation tech

Elucent Medical is a pioneering medical device company based in Eden Prairie, Minnesota, dedicated to developing state-of-the-art surgical navigation solutions. The company's flagship products, EnVisio and SmartClip, offer intelligent spatial guidance (iSG) for precise navigation during surgical oncology procedures. EnVisio leverages proprietary technology that converts existing surgical tools into smart, navigated instruments that can be tracked in real-time with millimeter precision. Initially optimized for breast cancer treatment, EnVisio's adoption has expanded to other soft tissue oncology surgeries. SmartClip, a surgical tool designed to facilitate precise navigation within the body using stereotactic technology, eliminates the need for additional imaging. Both products enable surgeons to accurately remove cancerous tissue while preserving healthy tissue, improving surgical outcomes. As of August 2023, EnVisio had been used in over 8,000 breast cancer patients. Elucent Medical is currently developing products for lung and other soft tissue clinical applications that integrate with existing tools, including video and robotic-assisted medical technologies. In April 2024, the company secured USD 42.5 million in Series C funding to further propel the commercialization of its technologies. Additionally, in August 2023, Elucent Medical expanded its operations with a new 27,000-square-foot state-of-the-art facility in Eden Prairie, featuring research and development labs, manufacturing capabilities, and a dedicated customer training center.

Convergent Dental, Inc. is a privately owned dental equipment and technology company. Its flagship product, Solea, is the only CO2 laser cleared by the FDA for all-tissue indications, delivering an anesthesia-free, blood-free, and suture-free experience for dentists and patients. Solea represents a breakthrough in dental laser technology, offering a distinct experience compared to traditional instruments or earlier laser treatments.
Solea is a novel 9.3-micron CO2 laser that nears the peak absorption of hydroxyapatite (enamel), enabling it to vaporize enamel with speed and precision. This unique wavelength, coupled with computer-controlled motors (galvos) that manipulate the beam thousands of times per second, allows dentists to perform procedures ranging from hard tissue to soft tissue with total control and efficiency.
A key feature of Solea is its variable-speed foot pedal, which lets dentists seamlessly transition from hard to soft tissue by adjusting the pressure applied. This intuitive design streamlines the learning curve for dentists accustomed to using a drill. Solea's three ergonomic handpieces – Contra-Angle, Straight, and Ultraguide – further enhance its versatility across various procedures.
Solea not only improves patient experiences but also offers practice benefits such as increased productivity, new patient flow, and efficiency gains. In October 2022, Convergent Dental received FDA clearance for Solea to aid in reducing mineral loss in dental enamel, protecting teeth against acid attack and caries development. This breakthrough application was commercially launched in November 2023 under the name Solea Protect.

Convergent Dental

Ossio is an orthopedic fixation technology company that has developed OSSIOfiber Intelligent Bone Regeneration Technology, a breakthrough implant material designed to securely fixate and fully integrate into the body's native anatomy without leaving any permanent hardware behind. This technology addresses the limitations of conventional metal and resorbable implants, combining unparalleled mechanical strength with natural bone healing.
Made from a proprietary mineral fiber matrix held together by a naturally degradable polymer, OSSIOfiber implants provide surgeons with a more biologically friendly way to restore patient stability and mobility. These implants are engineered to provide the strength required for functional fixation while allowing full integration into the native bone without adverse biological response.
Ossio's product portfolio includes compression screws, trimmable fixation nails, hammertoe fixation systems, suture anchors, and compression staples, all made with OSSIOfiber technology. These implants have received multiple FDA clearances since 2019, and the company has initiated commercialization of its products in the US. As of March 2022, over 6,000 implantations of OSSIOfiber products had been performed, demonstrating adoption of this innovative technology.
OSSIOfiber Intelligent Bone Regeneration Technology can address various surgical applications through the manufacturing of implant designs like nails, screws, staples, anchors, and plates. Ossio plans to pursue multiple applications in distal extremities, trauma, sports, reconstruction, pediatrics, and spine segments.
In February 2023, Ossio launched the world's first and only non-permanent compression staple made with OSSIOfiber technology, designed for predictable bone in-growth, regeneration, and replacement.

Ossio

Casana is a healthcare technology company that has developed the Heart Seat, an innovative toilet seat that enables effortless, integrated, and consistent in-home health monitoring. The Heart Seat is a replacement for a standard toilet seat and is designed to measure key clinical parameters such as heart rate, blood oxygen saturation (SpO2), and blood pressure.
In May 2023, Casana received FDA clearance for the Heart Seat to measure heart rate and SpO2 in adults aged 22 years and older, weighing between 90 to 350 pounds. The company plans to file for additional indications, including systolic and diastolic blood pressure, with the goal of launching the product in the market by the end of 2023.
The Heart Seat is equipped with sensors that passively capture health data whenever the seat is used, eliminating the need for user compliance or behavior changes. The data is automatically uploaded to the Casana Cloud, where it can be viewed by healthcare providers, enabling them to monitor patients' health trends and respond to changes in near real-time.
Casana's technology allows for the effortless collection of consistent and reliable data, assisting medical teams in monitoring chronic conditions beyond the hospital or physician's office. The company aims to unlock a new category in healthcare technologies that enables seamless, integrated, and continuous in-home health monitoring.
In January 2022, Casana was acquired by an undisclosed entity, further accelerating the commercialization of the Heart Seat.

Casana

Neurent Medical is a company pioneering innovative non-surgical interventions to treat chronic inflammatory sinonasal diseases, particularly chronic rhinitis. The company's flagship product is the NEUROMARK System, a device that received US Food and Drug Administration (FDA) 510(k) clearance in October 2021.
The NEUROMARK System is designed to gently apply controlled low-power radio frequency (RF) energy to target regions of the nasal cavity, disrupting the parasympathetic nerve signals that can trigger an inflammatory response. This alleviates chronic rhinitis symptoms such as persistent congestion, rhinorrhea (runny nose), swelling of the mucosal membrane, sneezing, and nasal itching. The system's unique flexible leaflet design and proprietary smart algorithms enable precise neurolysis (disruption) of the posterior nasal nerves (PNN) and accessory pathways, accommodating a range of patient anatomies while maintaining mucosal and vascular integrity.
Neurent Medical announced the limited market release of the NEUROMARK System in the US in February 2023, following the establishment of a new Category I Current Procedural Terminology (CPT) code by the American Medical Association (AMA) for PNN procedures, effective January 2024. The American Academy of Otolaryngology-Head and Neck Surgery (AAO-HNS) also endorsed the PNN procedure in 2023.

Neurent Medical

Genetesis is a medical imaging company specializing in biomagnetic cardiac imaging solutions. It has developed CardioFlux, a flagship magnetocardiography (MCG) system that non-invasively identifies myocardial ischemia, a condition where blood flow to the heart muscle is reduced. The technology measures the magnetic fields generated by the heart's electrical activity to detect ischemia within minutes, without using pharmaceuticals or radiation. CardioFlux MCG is designed to provide advanced imaging while prioritizing patient comfort.
The company's solutions target the diagnosis of coronary microvascular disease (CMD), a condition that has been challenging to identify due to a lack of effective functional diagnostics. By offering an accurate and rapid test for CMD, Genetesis aims to address an unmet clinical need and enable timely management of the condition.
In April 2023, the US Food and Drug Administration (FDA) granted CardioFlux MCG Breakthrough Device designation for the non-invasive diagnosis of myocardial ischemia in patients suspected of having CMD.
Genetesis was founded in 2013 and is headquartered in Mason, Ohio. The company has received over USD 40 million in funding to date, including a USD 17.5 million Series C round in October 2022. In April 2020, TDK Ventures, the corporate venture capital arm of TDK Corporation, invested in Genetesis, providing access to TDK's expertise in areas like biomagnetic sensors and magnetic noise suppression.

Genetesis

Companies that develop diagnostic devices used in a hospital setting to identify a disease, condition, or injury, such as imaging systems and endoscopes

Companies that develop implantable medical devices designed to be surgically placed inside the human body, either temporarily or permanently, including devices such as pacemakers, artificial joints, stents, and cochlear implants

Companies that develop non-surgical devices that are used in a procedure or intervention to cure or relieve a patient from an illness or disease such as laser treatments, dental equipment, and wound care management

Companies that develop monitoring devices that are used in a hospital setting to measure patient vital signs and ensure patient well-being post-treatment, such as cardiac and respiratory monitoring systems

Providers of software that enhances the functionality of medical device hardware (diagnosis, treatment, and monitoring)

Companies that develop surgical devices involving invasive interventions (cutting into a patient's body tissues) to treat, cure, or relieve a patient of an illness or disease

Companies that develop devices to administer pharmaceutical substances into a patient's body, ensuring controlled release or targeted delivery, specifically for use in clinical settings to treat or manage medical conditions effectively

Providers of software that helps manage risks, ensure quality, and streamline audit processes during medical device development

IoT connects devices to EHR systems for precise patient diagnosis and treatment support

Devices are linked to software platforms that use digital technologies such as AI/ML and VR

Startups leverage AI/ML and deep learning to support patient diagnosis and early detection

Leveraging personal data for custom-fit diagnosis and treatment

Precision Medicine

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 MedTech firm Elucent Medical has secured USD 42.5 million in the recent Series C funding round. Key participants involved in the funding round are Vensana Capital and RC Capital, along with existing investors. Post the funding round, Greg Banker and Kirk Nielsen from Vensana Capital, as well as Scott Steever from RC Capital, have been added to Elucent Medical's board of directors.
 The funding obtained will be channelled towards speeding up the development and market introduction of the proprietary technologies of Elucent Medical, named EnVisio and SmartClip. These technologies are specifically designed in favor of oncologic surgery that allows tissue conservation.
 Elucent Medical is a pioneer in delivering surgical solutions for oncologic treatments. It has developed its flagship offerings - EnVisio and SmartClip, which showcase intelligent spatial guidance for surgical procedures. The role of EnVisio technology is transformational as it transforms ordinary surgical tools into navigated instruments that can be supervised in real time during the procedure. Currently, it plays an instrumental role in surgical treatment processes of breast cancer.
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Elucent Medical

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