Watermark Medical Grabs $6M from Ballast Point Ventures

BOCA RATON - Watermark Medical, a privately-held medical products and services company servicing the 25 million patients suffering from sleep-disordered breathing, today announced the completion of a $6 million equity investment from Ballast Point Ventures.

Watermark Medical has developed the first web-based, end-to-end system and is the leading sleep diagnostics provider in the emerging Software-as-a-Service-based healthcare cloud market focused on Obstructive Sleep Apnea. Ballast Point Ventures will hold a minority stake in Watermark Medical and one seat on Watermark's Board of Directors along with CA Technologies who led the round with a $15 million dollar investment earlier this year.

"We made this investment because Watermark Medical has best in class technology along with a management team in whom we are confident will transform the emerging sleep industry," said Dick Brandewie, managing partner of Ballast Point Ventures. "Our successful investment history with Sean Heyniger and his team, with their innovative healthcare expertise, presents an exciting opportunity for our firm."

Through successful deployment of its home sleep testing platform, Watermark Medical has become an industry-recognized expert in cloud platform medical services. As a result, medical practitioners can easily manage, aggregate and access critical diagnostic and historical patient information.

"With this additional capital from Ballast Point Ventures we will further the deployment of our advanced, web-based technology platform," said Sean Heyniger, CEO of Watermark Medical. "As our technology is increasingly incorporated into the day-to-day functions of the medical community, benefits for the physician and patient will include an overall reduction in health costs and increased accuracy in tracking long term health and wellness of patients."