Angel Medical Systems has raised $10 million in a new equity round of financing after clearing its chapter 11 bankruptcy plans, MassDevice.com reported. The Eatontown, N.J.-based company developed the FDA-cleared AngelMed implantable cardiac monitor system intended for patients who had prior acute coronary syndrome events, including myocardial infarctions or unstable angina, and who remained at high risk for recurrent ACS events. Angel Medical Systems won approval for its chapter 11 bankruptcy emergence plans in January. The company said last Friday that it has successfully exited from chapter 11 as a private company, adding that the plan was supported by its creditors and that it has converted all existing note holder debt to equity.
