Perfint Healthcare eyes $50 mn Series E fund

Perfint Healthcare eyes $50 mn Series E fund

Perfint Healthcare, which provides solutions for image-guided interventional procedures in oncology and pain care, is looking at raising $40-50 million through Series E funding to support its business plans.

S Nandakumar, CEO of the company, said, “We would be looking at $40-50 million in the next few months to enhance our market position.”

Perfint has appointed boutique investment management firm, GCA Savvian Advisors, as its advisor; and expects investments from some of the existing investors. Perfint earlier raised $32.7 million in four rounds of venture funding, participated by prominent investors such as IDG Ventures, Accel India Ventures, and Norwest Venture Partners.

The company has received the US Food and Drug Administration (FDA) approval for its oncology equipment and plans are to start sales in US in the near future. It also announced the USFDA approval for its product Maxio, an image-guided, physician-controlled stereotactic CT accessory, which helps physician see, plan, treat and verify during CT guided procedures like tumour ablation, a process of destroying the tumour using thermal or electrical energy or pain care.

The company has developed two products, Robio and Maxio, both image-guided interventional procedures in cancer care and paincare, which were used to perform over 2,000 patient procedures around the world in the last year.

These solutions are expected to support in treatment of lung and lever cancer. Another product, Sonio, with an ability to work with ultrasound scanning machines, will be out in the first quarter of the next fiscal. Perfint is expecting its turnover to touch Rs 100 crore by the end of the current fiscal year, as against Rs 50 crore in March, 2014. It expects turnover to reach Rs 500 crore in next 3-4 years.