Atlanta-based MedTech company, Oxos Medical, has successfully raised $23 million in Series A funding. The funding round included backers such as Parkway Venture Capital and Intel Capital. As a result, Gregg Hill, co-founder and managing partner at Parkway Venture Capital, and Eric King, investment director at Intel Capital, will join the Oxos board of directors.
With a total of $45 million raised to date, Oxos Medical plans to use the new funds to boost product innovation and expand its availability on a global scale.
Founded in 2016 by Dr. Greg Kolovich, a Harvard-trained, board-certified orthopedic surgeon, and serial entrepreneur Evan Ruff, Oxos Medical specializes in medical imaging and diagnostic radiography. Their devices boast a low radiation profile and provide image sharpness and clarity in a compact form factor, ensuring X-rays are available wherever needed. Furthermore, the devices connect directly to the OXOS Cloud Platform, enabling physicians to instantly access radiographic studies from any location and device.
The cloud platform, which is fully HIPAA-compliant, integrates with existing radiology infrastructure or can utilize its nationwide teleradiology service for study interpretation.
Oxos Medical’s devices are already in use across various sectors, including outpatient clinics, the military, VA facilities, sports facilities and teams, hospitals, imaging centers, and bioskills labs.
This significant investment highlights the confidence of backers in Oxos Medical’s technology and its potential to transform the X-ray solutions market. With the additional funding, the company is well-positioned to further develop its innovative products and make a substantial impact on the future of medical imaging and diagnostic radiography.