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Wednesday, February 21, 2024

Morrisville-based Surround Medical raises $4.4 million, launching nationwide

Morrisville-based Surround Medical Systems has raised another $4.4 million from investors, money that it will use to support a nationwide marketing and product launch of its 3D dental imaging system.

David LaVance

The company is the first in the dental imaging market with a tomosynthetic device that helps dentists find cavities, root canals and fractures easier than a typical 2D X-ray, said CEO David LaVance.

“We did a soft launch last year,” said LaVance. “Now we’re rolling it out and setting up distribution.”

The privately held company has raised about $42 million in total and wants to raise another $5.6 million in this round of investing. It has 115 investors — all family offices or high net worth individuals.

Surround Medical showed the 3D device at the American Association of Endodontists conference in Chicago last month. And the device is now in use at dental schools at UNC Chapel Hill, the University of Michigan and the University of Maryland Baltimore.

The machine sells for $29,000, plus another $10,000 for the sensor that is placed in a patient’s mouth. LaVance said Surround Medical will also target periodontists and general dentists.

LaVance was previously chairman of Hologic Inc., which developed similar technology for use in mammograms.

 

Chris Roush
Chris Roush
Chris Roush is executive editor of Business North Carolina. He can be reached at croush@businessnc.com.

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