New Hyde Park, N.Y.-based Northwell Health has invested $1 million in medical device company Lazzaro Medical, which offers a robotic surgery system for tracheal repair.
Richard Lazzaro, MD, a thoracic surgeon with West Orange, N.J.-based RWJBarnabas Health, developed the system to make it safer and less time-consuming to treat people with tracheobronchomalacia, which is estimated to affect about half of COPD patients.
"Dr. Lazzaro's work is truly life-changing for so many people," Richard Mulry, president and CEO of Northwell Holdings, said in an Oct. 27 Lazzaro Medical news release. "We look forward to seeing the company's progress and are delighted Northwell can play a part in supporting these efforts."
The strategic investment brings Lazzaro Medical's total funding to $2 million. The money will be used to support the company's upcoming commercial launch and its premarket FDA submission.
Editor's note: This article was updated Nov. 3 at 11:28 a.m. CT.