CIBC Innovation Banking Provides $25 Million in Debt Financing to Podimetrics, Inc. | Company

SOMERVILLE, Mass. & MENLO PARK, Calif.–(BUSINESS WIRE)–Nov. 22, 2022–

CIBC Innovation Banking is pleased to announce $25 million in debt financing for Podimetrics Inc. (“Podimetrics”), an integrated clinical care services company that helps prevent amputations in patients with complex diabetes. Podimetrics plans to use the growth capital to expand its business operations.

Founded in 2011, Podimetrics created the SmartMat™, an easy-to-use home mat that detects temperature changes in the patient’s feet and alerts Podimetrics’ clinical and patient support team to potential health issues. The company aims to drive wider adoption of the SmartMat™ to help improve care outcomes for at-risk patients with diabetic foot ulcers.

“We look forward to working with CIBC Innovation Banking as we continue to bring our technology to diabetes patients across the United States,” said Matthew Scalo, Chief Financial Officer, Podimetrics.

“CIBC Innovation Banking is proud to support Podimetrics as it continues to grow and help patients with diabetes,” said Jeff Chapman, Head, North America, Life Sciences and Healthcare, CIBC Innovation Banking. “We are thrilled to work with a company that is dedicated to providing preventative care and helping to reduce amputations in patients with diabetes.”

About CIBC Innovation Banking

CIBC Innovation Banking provides strategic advice, cash management and financing to innovative companies in North America, the UK and selected European countries at every stage of their business cycle, from start-up to IPO and beyond. With offices in Atlanta, Austin, Boston, Chicago, Denver, Durham, London, Menlo Park, Montreal, New York, Reston, Seattle, Toronto and Vancouver, the team has extensive experience and a strong collaborative approach that spans to all of CIBC’s commercial banking services. and capital markets firms in the United States, Canada, United Kingdom and certain European markets.

About Podimetry

Podimetrics is the creator of the FDA-approved SmartMat™ and integrated clinical care services that can help save the limbs and lives of patients with complex diabetes. Through partnerships with regional and national health plans and at-risk providers, such as the Veterans Health Administration, Podimetrics has helped prevent amputations associated with complex diabetes. By combining cutting-edge technology with the best clinical care services, Podimetrics achieves high patient engagement rates and enables clinicians to save limbs, lives and money, while keeping populations vulnerable. healthy at home. For more information, visit podimetrics.com or follow us on LinkedIn and Twitter.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20221115006320/en/

Katarina Milicevic, [email protected], 416-784-6108

KEYWORD: CALIFORNIA MASSACHUSETTS UNITED STATES NORTH AMERICA

SECTOR KEYWORD: PROFESSIONAL SERVICES HEALTH MEDICAL DEVICES DIABETES FINANCE VENTURE CAPITAL BANKING

SOURCE: CIBC Innovation Banking

Copyright BusinessWire 2022.

PUBLISHED: 11/22/2022 09:00/DISC: 11/22/2022 09:02

http://www.businesswire.com/news/home/20221115006320/en

Copyright BusinessWire 2022.

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