VC-Backed ADVANCE Medical Raises $20 Mln, Also Buys Imunotech Sistemas Diagnosticos

ADVANCE Medical said Wednesday that it has closed $20 million in financing. New investors Aberdare Ventures and Arboretum Ventures participated in the round as did existing investors Venrock and Jose Bonchristiano. Also, the company has inked an agreement to acquire Brazil-based Imunotech Sistemas Diagnosticos, a distributor of laboratory and medical equipment. No financial terms were disclosed for this transaction. With facilities in Brazil and Mexico, ADVANCE Medical is a distributor of medical devices, diagnostics and laboratory equipment.

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