Last deal

$46M

Amount

Venture - Series Unknown

Stage

16.02.2022

Date

3

all rounds

$117.33M

Total amount

date founded

Financing round

General

About Company
Magnolia Medical Technologies develops a blood-collection system that eliminates misdiagnosis of bloodstream infections.

Related to

Medtronic

Medtronic

Medtronic develops healthcare technology for chronic disease treatment.

Sector

Medical Equipment and Services

Subsector

Medical Equipment

Keywords

Health Care, Medical, Medical Device

Location

Minneapolis, MN, USA

total rounds

9

total raised

$9.11B

count Of Investments

61

count Of Exists

19

Industry

Sector :

Subsector :

founded date

01.01.2011

Number of employees

Company Type

For Profit

Last funding type

Venture - Series Unknown

IPO status

Private

Description

The company's Steripath system diverts and sequesters contaminants from the initial blood sample, preventing false-positive blood culture results. With over 100 issued patents and 70+ patent applications pending, Magnolia aims to address other sources of diagnostic error and battle antibiotic resistance. Steripath is compatible with standard blood collection tubes and culture bottles, offering three different configurations. Incorporated in 2011 and based in Seattle, Magnolia Medical Technologies focuses on improving the accuracy of diagnostic blood culture tests.
Contacts

Contact Email

Phone number

Social url

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Their latest funding was raised on 16.02.2022. Their latest investor RTW Investments LLC. Their latest round Venture - Series Unknown

Date 
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Money Raised 
Lead 
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Co-Investors
Investors
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6

Number of lead investors

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Number of investors

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Partners 
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Series C, Venture - Series Unknown
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Naveen Yalamanchi

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current job

RTW Investments LLC
RTW Investments LLC
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Marc Andre Marcotte

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Mr. Marcotte joined Sectoral in 2006. He is responsible for overseeing the investment research activities at Sectoral. He is also responsible for the coverage of Medical Technology companies. In September 2013, Mr. Marcotte was nominated a Managing Director of Sectoral Asset Management and participates in the Executive Committee of the firm. Prior to joining Sectoral, he worked at CryoCath Technologies, a company specializing in the development of products to treat cardiovascular diseases, where he was the Director of Quality. Before this, he worked with Medtronic AVE in Vancouver as an engineer on angioplasty catheters and stents. He has over eight years of experience in the development of Medical Devices. Mr. Marcotte graduated from Sherbrooke University in 1997 with a Bachelor of Engineering and completed a Master of Business Administration at HEC Montreal in 2003. He obtained his CFA charter in 2010.

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SightLine Partners

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Sector

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People

Founders
2

Richard G. Patton

Dr. Patton is a board-certified pathologist with more than 35 years of active practice experience. Recognizing the patient safety and financial implications of false positive blood cultures, he has long been interested in exploring opportunities to reduce contamination rates. In 2006, Dr. Patton designed a clinical trial to test the effectiveness of Initial Specimen Diversion Technique (ISDT), an innovation that he conceived earlier in his career. The results of the trial were significantly positive and published in the peer-reviewed Journal of Clinical Microbiology. Dr. Patton’s areas of expertise are Anatomic Pathology, Clinical Pathology, and Cytopathology with sub-specialty expertise in Laboratory Administration. He is the chief pathologist and Medical Director of Clinical Laboratories at UW Medicine/Northwest Hospital & Medical Center, acts as the Washington State Commissioner for the College of American Pathologists Laboratory Accreditation Program, is an Associate Clinical Professor of Pathology at University of Washington, and is a published international thought leader on blood culture contamination.

current job

Magnolia Medical Technologies
Magnolia Medical Technologies

organization founded

1

Richard G. Patton

Greg Bullington
Greg Bullington

Greg Bullington

Greg Bullington is co-founder and CEO of Magnolia Medical Technologies. He has led all commercial aspects of company development since inception including clinical trial design and execution, peer-reviewed publication, product development, manufacturing, commercial launch and overall intellectual property strategy. To date, Greg has raised $25M in capital to drive the successful growth and development of the company. Greg has extensive experience in the healthcare industry having led product commercialization and strategy engagements for a wide variety of companies in the biotech (novel immunotherapy), healthcare insurance, wellness and enterprise software sectors. Greg began his career in professional services with the Audit & Assurance practice of Deloitte & Touche LLP. He continued his professional development as a management consultant with Lake Partners, a Seattle-based strategy firm. In 2006, Greg founded Forum Ventures, a technology commercialization consultancy focused on accelerating the growth of early and mid-stage technology companies. Over the past 15 years, Greg has led engagements and worked with senior executive teams at over 50 companies ranging from Fortune 100 corporations to venture-backed and early stage startups as a consultant, advisor, and investor. Additionally, Greg has significant intellectual property expertise and is the first named inventor on 28 issued patents as well as over 50 pending US and international patent applications.

current job

Magnolia Medical Technologies
Magnolia Medical Technologies

organization founded

1

Greg Bullington

Employee Profiles
21

Joseph Bishop

SVP of Operations and Product Development

Jason Mccreary

Business director

Heather Siebenaler

Business director

Rita Wolf

Business director

Joe Bonczkowski

Regional business director

Shawn Fox

Director strategic accounts

Matt Stuckert

Vice president us sales

Bob Gerberich

Bob Gerberich

Chief Commercial Officer

Activity

Recent News
2
News Timeline

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