Field Medical Secures $40 Million to Transform Ventricular Tachycardia Ablation Technology

Field Medical Raises $40 Million in Series A Financing

Field Medical Inc, a trailblazer in pulsed field ablation (PFA) technology, has announced the closure of a substantial $40 million Series A financing round. This funding initiative, which consists of $20 million in new capital alongside the conversion of a like amount in previously secured debt, has garnered significant attention from various investors, including renowned strategists, venture capital firms, and family offices. Notably, several early-stage investors chose to reinvest, reflecting strong confidence in Field Medical’s innovative focus on treating ventricular tachycardia (VT) and the broader applications of its technology.

The new funding will facilitate the completion of two pivotal pilot studies—VCAS targeting VT and Field PULSE aimed at addressing atrial fibrillation (AF). Moreover, it will support the ongoing development of Field's commercial PFA system while preparing for the VERITAS trial, which is set to be a pivotal study focused on VT. "This funding marks a significant step towards redefining how electrophysiologists approach ablation therapy," stated Dr. Steven Mickelsen, the founder and CEO of Field Medical. "With our investors' backing, we are expediting the development of our FieldForce™ ablation system, leveraging early clinical evidence as we move closer to our commercial goal of expanding access to next-generation IFP solutions for cardiac ablation."

Oskar Dadason, the company's CFO, expressed optimism about the support received from both new and returning investors. "This financing enables us to execute our strategic plan with urgency and focus as we transition from early-stage innovation to commercial readiness."

Field Medical specializes in transformative technology aimed at treating all cardiac arrhythmias, including both ventricular tachycardia and atrial fibrillation. The FieldForce Ablation System incorporates the first contact force PFA catheter, enabling instantaneous ablation workflows, administering therapy in fractions of a second. Recent results from the VCAS (VT) and PULSE (AF) pilot studies highlight the system’s versatility. Powered by the proprietary FieldBending™ technology—delivering brief, high-intensity electric fields—the system stands out as an advanced solution for a comprehensive range of cardiac arrhythmias.

Established in 2022, Field Medical is at the forefront of developing next-generation pulsed field ablation technologies designed to address the complex demands of modern cardiac ablation practices. Under the leadership of Dr. Steven Mickelsen, a pioneer in pulsed electric field technology, the company continues to refine revolutionary solutions based on the foundational advancements of Dr. Mickelsen in the PFA space. In 2024, Field Medical's technology received FDA recognition with Breakthrough Device Designation and inclusion in the TAP Pilot Program, setting the stage for future innovations.

The growing prevalence of ventricular tachycardia and atrial fibrillation is significant. VT and AF are among the most common and severe arrhythmias, leading to strokes, heart failure, sudden cardiac deaths, and escalating healthcare costs. Currently, VT and premature ventricular contractions affect over 6 million individuals in the US and Europe, while AF affects about 2 to 6% of the global population.

The catheter ablation market for AF is currently valued at $5 billion, projected to grow at a compound annual growth rate of 13% to 16%, exceeding $11 billion by 2034. In comparison, the global VT market, which includes devices and catheter ablation, was valued at approximately $12.5 billion in 2021, with an estimated growth rate of 5.26%, expecting to reach $17 billion by 2027. Notably, the catheter ablation segment within the VT treatment market is projected to grow at a higher rate of 13% per year during this time, reflecting increased adoption of catheter interventions for VT management.

For additional information, please visit Field Medical's website and follow them on LinkedIn and X.

Media Inquiries: Holly Windler, +1 619-929-1275