Novonate Inc.
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Novonate Inc. - overview
Established
2017
Location
San Francisco, CA, US
Primary Industry
Medical Devices & Equipment
About
Novonate Inc. is a U. S. -based company specializing in innovative medical device solutions for neonatal care, focusing on enhancing patient safety and outcomes in neonatal intensive care units (NICUs).
Novonate Inc. was founded in 2017 in San Francisco, US, as a medical technology firm targeting neonatal patient care. In February 2023, Novonate was fully acquired by Laborie Medical Technologies Corp. for undisclosed financial terms.
The acquisition aims to enrich Laborie's product offerings in neonatal intensive care. To date, Novonate has successfully completed 3 deals, with a total amount raised of USD 0. 620 mn and a current valuation of USD 1. 575 mn.
Novonate Inc. is known for its innovative medical device, the LifeBubble® Umbilical Catheter Securement System, designed to safeguard umbilical cord catheters for infants in NICUs. Constructed from medical-grade silicone, the device ensures secure placement and minimizes risks associated with catheter migration. It is available in two sizes and features venting for desiccation and site visibility, making it an essential tool for healthcare providers.
Novonate’s products are primarily distributed to hospitals and medical facilities across North America and Europe. Novonate generates revenue through direct sales of its LifeBubble® system and associated products. Transactions occur in B2B settings, where healthcare providers purchase kits and accessories in bulk. The pricing structure includes comprehensive kits for securement and standalone tools designed to facilitate catheter placement.
This business model ensures steady orders from healthcare institutions, supporting their commitment to maintaining high standards of neonatal care. Following the recent acquisition by Laborie Medical Technologies Corp. in February 2023, Novonate plans to expand its product line within the neonatal sector. The acquisition allows for a broader focus on neonatal care solutions, enhancing product offerings specifically for NICUs.
Recent funding will be directed towards the development of new product lines and exploring opportunities in international markets, bolstering Novonate's presence in the global healthcare landscape.
Primary Industry
Medical Devices & Equipment
Sub Industries
Medical Equipment Distributors
Website
www.novonate.com
Verticals
Manufacturing
Company Stage
Acquired
Total Amount Raised
Subscriber access only
Novonate Inc. - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Add-on, Trade Sale | Completed | Novonate Inc. | - |
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