Welwaze Medical, formerly Mpower Medical Inc., announced that it raised US$ 11 million through Atlantico Capital Partners LLC, who acted as the exclusive financial advisor to the company. The financing will be used to fund the construction of an advanced production line which will enable commercialization at a global scale of their medical device product named BreastCare DTS™.
The Transaction has been structured in two phases. A phase one that reached closing in June 2017 amounting to US$ 1.4 million to cover the preliminary development expenses and a phase two in November 2017 following the successful testing of the product amounting to US$ 9.6 million.
About Welwaze Medical
Welwaze Medical, Inc. is a US-based corporation that owns the intellectual property rights, patents, trademarks, and copyrights relating to BreastCare DTS™. BreastCare DTS™, an FDA cleared medical device is a simple, non-invasive, easy -to-use, and affordable test that allows women to safely and painlessly self-screen for breast cancer or breast disease before any symptoms occur.
About Atlantico Capital
Atlantico Capital is an investment banking boutique headquartered in Miami and focused on middle market M&A and structured debt transactions in Latin America, the Unites States and cross border transactions involving Spain and the Americas. In Latin America, Atlantico Capital’s geographical emphasis is on the Andean Pact countries, Central America and the Caribbean.