KindHeart Raises $300,000

5/22/17

By Chris Roush, NC BIZ News

A Chapel Hill-based company that has developed a cardiac simulation system has raised more than $300,000 in a private equity offering, according to a Securities and Exchange Commission filing.

KindHeart Inc. raised $305,696 from 10 investors, according to the filing. It is seeking to raise another $944,000.

The company was founded in 2011 based on technology developed for a complete cardiac surgery simulation system that makes a real pig heart behave just like a human heart during open-heart surgery.

Dr. Paul Ramphal built the simulator to provide his students clinical-level instruction at University of the West Indies to compensate for low patient flow.

KindHeart co-founder, Dr. Richard Feins, professor of surgery at UNC-Chapel Hill and then chairman of the American Board of Thoracic Surgery, collaborated with Ramphal to develop the first simulators for academic institutions.

KindHeart’s simulators were made in limited quantities in late 2015 and fully commercialized in 2016.

Private companies such as KindHeart relying on a Reg D exemption do not have to register their offering of securities with the SEC, but must file a Form D electronically with the SEC after they sell its securities.

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