Predict your next investment

Acorn Cardiovascular company logo
HEALTHCARE | Medical Devices & Equipment / Therapeutic Devices
acorncv.com

See what CB Insights has to offer

Founded Year

1996

Stage

Unattributed VC - IV | Alive

Total Raised

$92.95M

Last Raised

$22M | 14 yrs ago

About Acorn Cardiovascular

Acorn Cardiovascular is a medical device company pursuing treatments for patients with heart failure. Acorn

Acorn Cardiovascular Headquarter Location

601 Campus Drive Suite One

Saint Paul, Minnesota, 55112,

United States

651-286-4800

Latest Acorn Cardiovascular News

Preceptis seeks $2.5 million to develop pediatric medical device

Jan 5, 2012

Share / Jan 5, 2012 at 9:55 AM A Minnesota pediatric medical device company is seeking $2.5 million, according to documents filed with the Securities & Exchange Commission. Preceptis Medical, which is developing a solution that will allow ear, nose and throat specialists to perform ear tube surgeries safely on children right in their offices, has already raised $500,000 by issuing debt and convertible debt. The company’s CEO – Steve Anderson – declined comment. But in an interview last May , Anderson said that at minimum he was looking to raise $5 million and if market appetite was greater he would raise up to $10 million. Advertisement The target market, he said, would consist of the 1.3 million to 1.5 million ear tube surgeries that are performed in the operating room annually on children. “What we are doing is that we are trying to come up with solutions for moving those procedures out of the OR so that the kids do not have to undergo general anesthesia,” Anderson said at the time. “We have come up with a way of safely delivering ear tubes right in the ENT’s office.” At the time, Anderson also said that the device that Preceptis was developing would bring cost savings because it would transfer surgeries out of hospitals into doctor’s offices. By transferring those surgeries out of hospitals and ambulatory surgical centers to the ENT’s office, health insurers can save 70 percent per procedure, Anderson said. Anderson was president of Acorn Cardiovascular , which capitulated after a long battle with the Food and Drug Administration, which repeatedly denied approving the company’s heart device. After raising $100 million in venture capital, Anderson was forced to close Acorn. In late 2010, he sold its intellectual property to an undisclosed company and liquidated its assets before moving on to create Preceptis, which is developing a lower risk device than Acorn.  

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

Acorn Cardiovascular Patents

Acorn Cardiovascular has filed 8 patents.

patents chart

Application Date

Grant Date

Title

Related Topics

Status

3/10/2006

10/26/2010

Radio telescopes, Medical equipment, Drug delivery devices, Neurological disorders, Interferometric telescopes

Grant

Application Date

3/10/2006

Grant Date

10/26/2010

Title

Related Topics

Radio telescopes, Medical equipment, Drug delivery devices, Neurological disorders, Interferometric telescopes

Status

Grant

CB Insights uses Cookies

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.