Charlotte-based NewHope Bariatrics, Inc. (www.newhopebariatrics.com/), an obesity surgery company, has received $18.5 million in debt and equity financing from three institutional investors: Austin Ventures, Versant Ventures, and Square 1 Bank. The company will use these funds to develop and operate ambulatory surgery centers focused on the treatment of obesity using the Lap-Band® system.
Founded in 2005 by David Crane and Dennis Kelly, former senior executives at MedCath Corporation (NASDAQ: MDTH), NewHope Bariatrics will own and operate these centers in partnership with leading bariatric surgeons in markets across the United States. In anticipation of this new financing, the company has been working diligently with several physician groups and expects to announce its first partnerships in the coming weeks.
Square 1 Bank is a CED member.