A Sound Future 3545

Originally Published MX March/April 2004

COVERY STORY

OmniSonics president and CEO Robert A. Rabiner specializes in acoustics—and investors are listening.

Interview by Steve Halasey

In the medical technology industry, experienced investors pay attention to sectors whose technological advances promise to deliver extraordinary new products that could change the face of healthcare. Sometimes they pay a lot of attention.

That has certainly been the experience of OmniSonics Medical Technologies Inc. (Wilmington, MA), whose recently closed C round of funding has turned out to be one of the largest venture capital deals of the past year. Originally closed in October 2003 at $26 million, the round was reopened to take in oversubscription that eventually increased the company's total by about 60%. By the end of February 2004, the round's final tally had reached $43 million, making the company the top medical device VC fundraiser of the year.