MedGroup Inc. Raises Funds for Marketing

MedGroup Inc., an Encino-based maker of medical products, said it raised $1 million through a private placement of common stock to an investor consortium led by Broad Capital Associates Inc. of New York and Albermarle Investments Ltd. of London.

MedGroup said it would use the proceeds mainly to market and distribute its recently announced product, the Merlin 360 car seat.