Surgical Frontiers closed on a $7 million fund for the company's future growth.
"By identifying unmet clinical needs and then applying our capital efficient model for business incubation, we plan to use this fund to develop highly differentiated surgical technologies that have the potential to improve patient outcomes," said Surgical Frontiers CEO Wade Fallin.
Here are five things to know about the fund:
1. Surgical Frontiers plans to use the $7 million to invest in its business incubator for surgical technology start-up companies. Their focus will be primarily the musculoskeletal markets.
2. Surgical Frontiers Series I will hold the fund and invest in portfolio companies incubated by management and product development company Surgical Frontiers.
3. The initial investment commitments are already made to the first three portfolio companies addressing the orthopedic medical device market; foot and ankle market; sports medicine; and trauma.
4. The company's scalable business model will allow them to pursue additional collaboration opportunities with surgeons, industry and universities.
5. Future collaborations could fund, launch and operate development stage companies in the medical technology market.