ImpediMed secures $15 million for lymphedema technology

CARLSBAD, Calif. - ImpediMed, known for its medical technology in fluid and body composition monitoring, has secured a five-year $15 million growth capital facility with SWK Holdings Corporation (NASDAQ:SWKH), a specialist in life science finance. According to InvestingPro data, SWK Holdings, currently trading near its Fair Value, maintains a robust gross profit margin of 91% and a healthy current ratio of 57.7, indicating strong financial stability. The funds are earmarked to bolster the commercialization of ImpediMed’s platform technology, which includes the SOZO® Digital Health Platform, the only FDA-cleared bioimpedance spectroscopy (BIS) system for lymphedema detection related to breast cancer.

This capital infusion is set to strengthen ImpediMed’s commercial strategy, enhancing its ability to create shareholder value and cement its position in the market. The company’s BIS technology has been widely recognized for its accuracy in lymphedema screening, with over 258 million U.S. health payors now providing coverage. InvestingPro analysis reveals SWK Holdings has maintained profitability over the last twelve months, with liquid assets exceeding short-term obligations - just two of many insights available to Pro subscribers.

Lymphedema, often a side effect of cancer treatment, can be difficult to detect early. ImpediMed’s SOZO® platform uses BIS to identify fluid changes promptly, allowing for early intervention. The technology’s clinical adoption is on the rise, and it received a boost when the National Accreditation Program for Breast Centers (NAPBC) included lymphedema prevention programs utilizing BIS in its 2024 accreditation standards.

Dr. Parmjot Bains, CEO & Managing Director of ImpediMed, expressed confidence in the agreement with SWK Holdings and the future of the SOZO Digital Health Platform. JD (NASDAQ:JD) Tamas, Director of Underwriting at SWK Holdings, also stated their excitement to support ImpediMed’s mission with this capital.

ImpediMed’s SOZO device, which measures fluid status and tissue composition in under 30 seconds, is utilized in the early detection of lymphedema and monitoring of patients with heart or renal failure. The device is FDA-cleared, CE-marked, and ARTG-listed.

The transaction was advised by Armentum Partners, a firm specializing in accessing non-dilutive capital for healthcare and technology sectors. ImpediMed, with origins in Brisbane, Australia, operates in the U.S. and Europe, offering the SOZO® Digital Health Platform globally in select markets. For investors interested in deeper analysis, InvestingPro offers comprehensive research reports on SWK Holdings and over 1,400 other US stocks, providing detailed financial health scores and expert insights for informed investment decisions.

This new funding round is expected to provide ImpediMed with the financial flexibility to further capitalize on the breast cancer-related lymphedema market through its Software (ETR:SOWGn) as a Service (SaaS) subscription-based model. The information for this article is based on a press release statement.

In other recent news, SWK Holdings Corporation has announced a series of financial transactions and portfolio updates. The company has engaged in new funding agreements, received repayments from various borrowers, and expanded existing credit facilities. This includes a $5.0 million funding to Journey Medical (TASE:PMCN) and a $0.6 million advancement to Biotricity. Additionally, SWK closed an $8.0 million loan with Triple Ring Technologies and expanded its credit facility with Eton Pharmaceuticals (NASDAQ:ETON) from $4.3 million to $30.0 million.

On the repayment side, SWK received a net payment of $3.4 million from the sale of Exeevo assets and $13.0 million from the Biolase (OTC:BIOLQ) bankruptcy estate. Other notable repayments include $1.9 million from Trio Healthcare, $4.2 million from Veru (NASDAQ:VERU), and a final payment of $12.2 million from Moleculight. These are part of the recent developments in the company’s financial activities.

As part of its operations, SWK also holds preferred equity in Moleculight and owns Enteris BioPharma. However, it’s important to note that the forward-looking statements involve risks and uncertainties that may affect SWK’s financial results.

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