Orthopedic medtech company Think Surgical has secured up to $65 million in growth capital through a new debt facility.
The facility provided an initial funded tranche of $25 million, with an additional $15 million based on achievement of certain milestones and up to $25 million of discretionary capital, according to a July 14 news release from Think Surgical.
The organization will use the funding to advance its dual-channel commercial strategy for its TMINI Miniature Robotic System.
The funding was provided by Symbiotic Capital, a healthcare credit firm.
“This facility, combined with recent additional investments by our existing investors, will allow us to continue our significant growth and development of TMINI, and is expected to fully finance the company to profitability,” Stuart Simpson, president and CEO of Think Surgical, said in the release.
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