Sonex Health Raises $40 Million in Series B Financing

Sonex Health Inc. has raised $40 million in Series B financing to help expand access to its devices that use ultrasound guidance to treat carpal tunnel syndrome (CTS) and trigger finger (TF). KCK MedTech, a venture capital firm specializing in medical technology investments, led the company’s Series A and Series B financings.

In conjunction with this Series B financing, the company also closed on a new debt facility with venture lender Horizon Technology Finance Corporation.
 
“We appreciate the continued support and confidence from KCK MedTech and Horizon,” Sonex Health President/CEO Bob Paulson said. “With this funding, we will continue expanding hand surgeons’ access to ultrasound-guided technologies that effectively treat the significant pain and discomfort of patients suffering from CTS and TF, as well as continue to rapidly expand real-world clinical evidence demonstrating the clinical and health economic benefits of providing treatment with ultrasound guidance.”
 
Typically, carpal tunnel release (CTR) and trigger finger release (TFR) procedures have been performed in a hospital or an ambulatory surgery center (ASC). The Sonex Health devices used under ultrasound guidance have allowed physicians to move CTR and TFR procedures from surgical suites into lower-cost, office-based procedure rooms to address the increasing patient demand for less-invasive CTR and TFR procedures.
 
Rapid patient enrollment in two recent multi-center, prospective, real-world clinical studies of CTR with ultrasound guidance (CTR-US) demonstrated the strong patient demand and unmet need for minimally invasive treatment options that allow patients to return to their daily activities and work within days versus weeks or longer often seen with surgical approaches. The most recent clinical study also highlighted the ability of physicians using CTR-ultrasound to treat patients suffering from bilateral CTS in a single procedure visit, eliminating the need for patients to schedule two separate procedure visits, and allowing patients to rapidly return to normal activities and work following a simultaneous bilateral CTR-ultrasound. 
 
“We are excited to continue our support of Sonex Health as the company continues to expand access to minimally invasive treatment solutions for patients who have opted out of more invasive procedures,” KCK MedTech Senior Managing Director Karen Long stated. “Highly positive patient and surgeon experiences are a strong indication that carpal tunnel release using ultrasound guidance is poised to become the standard of care.”
 
Sonex Health develops ultrasound-guided therapies to treat common orthopedic conditions affecting the extremities, including entrapment neuropathies and tendinopathies. The company’s proprietary devices allow surgeons to use real-time ultrasound guidance to visualize critical anatomy throughout procedures. The company’s first commercial device, UltraGuideCTR, treats carpal tunnel syndrome and received U.S. Food and Drug Administration clearance in 2019. The company’s second commercial device, UltraGuideTFR, treats trigger finger (also known as stenosing tenosynovitis) and was released in 2022.

Founded in 2018 to support the Sonex Health mission and clinical excellence, the Institute of Advanced Ultrasound Guided Procedures is focused on innovation supported by clinical research and professional education and training that transforms the treatment experience for patients, providers, and payers.