Medrobotics Corp., a Raynham-based medical robotics company, announced Thursday the conversion of notes totaling $33.6 million purchased through recent financings into Series D Preferred Stock.
Existing Medrobotics shareholders and undisclosed new investors participated in the Series D raise., the company said in a press release.
The company is developing what it calls the Flex Robotic System.
“Patients, surgeons, and hospitals will all benefit from the Flex Robotic System ’s enabling minimally invasive surgical technology,” Samuel Straface, Medrobotics president and chief executive, said in a statement. “The Flex Robotic System will provide transoral single-site access and visualization for surgery in hard-to-reach locations in the throat and voice box. Minimally invasive surgery has been shown to be more cost-effective and less painful for the patient and also leads to quicker hospital discharge and faster recovery.”