Device Makers Look to Device Makers for FundingDevice Makers Look to Device Makers for Funding

On Monday, the medical technology giant raised $47 million for Ardian Inc. (Palo Alto, CA).Other participants included Advanced Technology Ventures, which has an office in Palo Alto, Morgenthaler Ventures and Split Rock Partners, which have offices in Menlo Park, and a new investor, Portola Valley-based Emergent Medical Partners.The clinical-stage medical device company is the eighth company created by The Foundry, a medical device incubator based in Menlo Park. It may be a sign of the times that developing medical device firms should look toward larger device companies to gain funding, particularly if the technology is complementary or tangential to the larger firm's area of expertise.