The medical devices maker has plans to use the proceeds from the $39m financing to expand the treatment of FFP throughout the US and launch its CurvaFix IM Implant
The CurvaFix IM Implant. (Credit: Business Wire)
US-based medical devices maker CurvaFix has raised $39m in a Series C equity financing round led by UK-based investment firm MVM Partners.
The financing round also saw participation from Sectoral Asset Management and other existing investors.
CurvaFix is engaged in the development of medical devices for repairing fractures in curved bones.
The medical devices maker has plans to use the proceedings from the $39m financing to expand the treatment of Fragility Fractures of the Pelvis (FFP) throughout the US.
In addition, CurvaFix will use the funds to advance the care of FFP patients by launching its CurvaFix IM Implant.
MVM Partners partner Eric Fritz said: “CurvaFix’s ability to benefit patients, physicians, and health systems, while simultaneously addressing the undertreated FFP segment makes CurvaFix a rare asset in the crowded world of orthopaedics.
“We are thrilled to be involved and look forward to supporting the company’s next phase of growth.”
According to a separate announcement from the firm, Mark Foster has been named CEO, succeeding founder and current CEO Steve Dimmer. Dimmer will transition into a strategic advising role.
Foster is a C-Suite executive with expertise in the pharmaceutical, medical device, and healthcare sectors.
He formerly served as president and CEO of Trice Medical, a firm in the field of minimally invasive orthopaedic surgeries, before joining CurvaFix.
He also formerly served as Smith & Nephew’s VP of US Sports Medicine Business and had executive positions at Boston Scientific.
Foster said: “I have had the opportunity to observe the successful implementation and adoption of CurvaFix IM Implants in the orthopaedic pelvic fracture fixation market, for which Steve has played a pivotal role in taking the company to this point.
“I am looking forward to leading the CurvaFix team in scaling CurvaFix’s technology to benefit many more patients, physicians, and payers.”
In February this year, the company launched its CurvaFix IM Implant for stable fixation in small-boned patients. The smaller-diameter, 7.5mm implant simplifies surgery and provides strong, stable fixation in small-boned patients.