New round will help fuel commercialization efforts in support of ImpediMed's platform technology for the detection and monitoring of lymphedema.
CARLSBAD, Calif., Feb. 7, 2025 /PRNewswire/ -- ImpediMed, a leader in medical technologies to clinically monitor and manage fluid and body composition, today announced an agreement for a five-year $15 million growth capital facility with SWK Holdings (NASDAQ:SWKH), a life science-focused specialty finance company catering to small- and mid-sized commercial-stage companies. Funds raised will provide ImpediMed with funding flexibility and will be used to support growth and commercialization activities. Armentum Partners acted as the Company's exclusive financial advisor on this transaction.
ImpediMed is a medical technology company that non-invasively measures, monitors, and manages fluid status and tissue composition using bioimpedance spectroscopy (BIS). ImpediMed produces a family of FDA cleared and CE Marked medical devices, including the SOZO® Digital Health Platform that is used to assess secondary lymphedema with a focus on breast cancer-related lymphedema. (PRNewsfoto/ImpediMed)
With this new funding in place, ImpediMed's capital base is well equipped to support the continued execution of its commercial strategy. As a result, the company is better positioned than ever to achieve its long-term goals and create significant value for its shareholders.
As a pioneer in the field of lymphedema detection and monitoring, ImpediMed offers the only FDA-cleared bioimpedance spectroscopy (BIS) technology for the clinical assessment of breast cancer-related lymphedema (BCRL) –– the SOZO® Digital Health Platform. ImpediMed's platform is broadly accepted and recognized for effective and accurate screening of lymphedema, with U.S. health payors now providing coverage for over 258 million covered lives.
Lymphedema, a common consequence of cancer treatment, is challenging to detect before symptoms appear. ImpediMed's SOZO® Digital Health Platform uses BIS to identify fluid changes early, enabling intervention before lymphedema becomes a chronic condition. With growing adoption in clinical practice and increasing payor coverage, ImpediMed's innovative approach is transforming lymphedema management.
In 2024, the National Accreditation Program for Breast Centers (NABPC) updated its accreditation standards to include lymphedema prevention programs utilizing BIS as an evidence-based guideline for managing lymphedema. The NAPBC is a quality program of the American College of Surgeons, and accredited programs must understand, implement, and demonstrate compliance with accreditation standards outlined in Optimal Resources for Breast Care. This recognition further validates BIS as a critical tool in lymphedema management and presents a significant opportunity for ImpediMed to expand its reach, driving broader adoption of the SOZO Digital Health Platform across breast cancer centers nationwide.1
"We are pleased with our agreement with SWK Holdings and the confidence they have shown in ImpediMed, as well as in the future of our SOZO Digital Health Platform," said Dr. Parmjot Bains, MD, CEO & Managing Director of ImpediMed. "SWK's proven approach of supporting innovative healthcare companies makes them an ideal partner for us as we pursue our commercial growth strategy over the next five years. We are confident with the business' direction, and this was reinforced throughout our due diligence process. In conjunction with our existing cash reserves, this facility gives us the time and funding flexibility required to execute on our business plan and fully capitalize on the BCRL opportunity."
"We believe that the SOZO Digital Health Platform is revolutionizing how clinicians assess and manage fluid and body composition, ultimately improving patient outcomes," said JD Tamas, Director of Underwriting at SWK Holdings. "We are excited to provide this capital to support ImpediMed's continued mission to improve the lives of patients by pushing the boundaries of what's possible in fluid and tissue analysis."
About SOZO Digital Health Platform
SOZO, the world's most advanced, non-invasive bioimpedance spectroscopy (BIS) device, delivers a precise snapshot of fluid status and tissue composition in less than 30 seconds. Using ImpediMed's BIS technology, SOZO measures 256 unique data points over a wide spectrum of frequencies from 3 kHz to 1000 kHz. Results are available immediately online for easy data access and sharing across an entire healthcare system. The FDA-cleared, CE-marked and ARTG-listed digital health platform aids in the early detection of secondary lymphoedema, provides fluid status for patients living with heart or renal failure, and can be used to monitor and maintain overall health – all on a single device.
About SWK Holdings
SWK Holdings is a life science focused specialty finance company partnering with small- and mid-sized commercial-stage healthcare companies. SWK provides non-dilutive financing to fuel the development and commercialization of lifesaving and life-enhancing medical technologies and products. SWK's unique financing structures provide flexible financing solutions at an attractive cost of capital to create long-term value for all SWK stakeholders. SWK's solutions include structured debt, traditional royalty monetization, synthetic royalty transactions, and asset purchases typically ranging in size from $5.0 million to $25.0 million
About Armentum Partners
Armentum Partners is an investment bank dedicated to assisting healthcare and technology companies access non-dilutive capital. Since the beginning of 2023, Armentum has raised over $3.5 billion for its clients.
About ImpediMed
Founded in Brisbane, Australia with US and European operations, ImpediMed is a medical technology company that uses bioimpedance spectroscopy (BIS) technology to generate powerful data to maximize patient health. ImpediMed produces the SOZO® Digital Health Platform, which is FDA-cleared, CE-marked, and ARTG-listed for multiple indications, including lymphoedema, heart failure, and protein calorie malnutrition and sold in select markets globally.
In March 2024, the NCCN Clinical Practice Guidelines in Oncology (NCCN Guidelines®) for Survivorship continue to reference bioimpedance spectroscopy as the recommended objective tool to screen at-risk cancer patients for early signs of lymphoedema. With the SOZO Digital Health Platform and L-Dex®, ImpediMed is the only company to offer FDA-cleared technology that uses bioimpedance spectroscopy for the clinical assessment of lymphoedema. The connected digital health platform and large, attractive cancer-related lymphoedema market present an opportunity for continued strong growth through ImpediMed's SaaS subscription-based business.
1 Used with permission of the American College of Surgeons, Chicago, Illinois. The original source for this information is the American College of Surgeons. Content does not reflect the views or interpretations of the American College of Surgeons.
