The company has also acquired peripheral thrombectomy company Truvic Medical, in a stock-for-stock transaction
TRUVIC CEO Mike Buck (left), and Imperative Care chairman and CEO Fred Khosravi (right). (Credit: Business Wire.)
Imperative Care has received $260m in Series D financing, led by global investment firm D1 Capital Partners to advance its technologies in stroke care.
New investors HealthCor Investments and Innovatus Capital Partners have participated in the investment round.
The financing round has also saw the participation of existing investors Ally Bridge Group, Bain Capital Life Sciences, Ascension Ventures, Delos Capital, Rock Springs Capital, and Amed Ventures.
As part of the capital funding, James Rogers from D1 Capital Partners will be appointed as a member of the Imperative Care’s Board of Directors.
Imperative Care chairman and CEO Fred Khosravi said: “We are grateful for the confidence our investors have placed in us through this major financing, which we believe will have a profound impact on our ability to accelerate development efforts in the field of stroke and peripheral interventions.
“Our strategy is to intensify our programs designed to meet patients’ needs, bringing more innovative technologies to the market faster.
“In addition to our initial focus in the field of stroke, we see natural areas of synergy across unmet patient needs, and we are committed to accelerating those paths to commercialisation.”
Imperative Care intends to use the funding proceeds to support its ongoing development and commercialisation of its technologies in stroke care.
Also, the company will use the funds to develop a strategic network of wholly owned development subsidiaries in several areas of synergy.
Imperative Care acquires peripheral thrombectomy company Truvic Medical
In relation with the financing, Imperative Care also has acquired Truvic Medical, a peripheral thrombectomy company, in a stock-for-stock transaction.
As per the terms of the transaction, Truvic will operate as a wholly owned subsidiary of Imperative Care, without any changes to its founding leadership team and brand identity.
Imperative Care will allocate the funding proceeds to advance Truvic’s development and commercialisation of novel technologies for the treatment of peripheral vascular disease.
Truvic Medical CEO Mike Buck said: “Imperative Care and Truvic share cultures of innovation and intense commitments to the needs of patients, and I’m pleased that the two companies are now joining forces at an even deeper level to advance our common goals.
“The financing will accelerate Truvic’s development programs and preparations to enter the rapidly-growing market for peripheral thrombus management.”