Category: Providence Medical Technology

Providence Medical Technology Secures $25 Million In Equity Financing

Proceeds to Bolster Commercial Expansion & Clinical Development of its DTRAX® Spinal System

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Providence Medical Technology, Inc.   Sep 20, 2018, 06:00 ET
PLEASANTON, Calif.Sept. 20, 2018 /PRNewswire/ — Providence Medical Technology, Inc., an innovator in tissue-sparing surgical equipment and implants for cervical spine fusion surgery, today announced the closing of $25 million in new equity financing. Revelation Partners led the round with participation from the private equity investment team at BMO Global Asset Management (EMEA), MVM Life Science Partners, Medvest Capital, and Aphelion Capital. Inclusive of this new investment, Providence has raised a total of $53 million in equity financing since its 2008 inception.

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Providence Medical Technology Secures New Financing of $10.5 Million From Bridge Bank

Proceeds to further commercialize and expand distribution of cervical fusion technology

WALNUT CREEK, Calif., May 10, 2017 /PRNewswire/ — Providence Medical Technology, Inc., an innovator in tissue-sparing cervical spine technology, today announced the closing of a $10.5 million debt agreement with Bridge Bank.

“We are pleased that we have partnered with Bridge Bank to bolster our balance sheet with this debt facility,” said Greg Curhan, Chief Financial Officer of Providence. “This financing, coupled with our recently completed equity financing, puts us in a great position to continue to expand our distribution both across the United States as well as in international markets to deliver innovative spinal technology to help patients enjoy pain-free lives.”

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Providence Medical Technology Announces Issuance of Four Additional U.S. Patents

Continues Expansion of Cervical Fusion IP Portfolio

WALNUT CREEK, Calif., April 27, 2017 /PRNewswire/ — Providence Medical Technology, Inc., an innovator in tissue-sparing cervical spine technology, today announced the U.S. Patent Office’s issuance of four additional patents, Nos. 9,622,873; 9,622,791; 9,622,874; and 9,629,665, covering various aspects of its proprietary DTRAX® and CAVUX® posterior cervical spinal fixation technologies.

These patents cover, among other things, posterior placement of an implant in a facet joint using a chisel and guide tube; placement of an implant in a facet joint using a forked guide tube; placement of implants of various configurations in a cervical facet joint; and distraction of a facet joint after posterior placement of an implant in the facet joint.

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Providence Medical Technology Closes Series C Financing

Proceeds to Fund Expansion of U.S. Commercialization

LAFAYETTE, Calif. — (BUSINESS WIRE) — Providence Medical Technology, Inc. today announced that it has closed a $6.8 million Series C round of financing. Stanmore Medical Investments led the round through its MedVest Fund One, and was joined by Aphelion Capital and RCT Ventures.

In conjunction with the financing, David Cash of Stanmore and Ned Scheetz of Aphelion have joined Providence’s Board of Directors.

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Providence Medical Technology Announces New Equity Financing Of $10.5 Million

Global Healthcare Investor MVM Life Science Partners Leads Round

WALNUT CREEK, Calif.Dec. 19, 2016 /PRNewswire/ – Providence Medical Technology, Inc., an innovator in tissue-sparing, cervical-fusion technology, today announced the closing of $10.5 million in new equity financing for the company.  The proceeds will be used to further commercialize and expand its portfolio of cervical-fusion technology.

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Providence Medical Technology Announces the Publication of a Technique Paper

Walnut Creek, CA (December 13, 2016) Providence Medical Technology, Inc., an innovator in tissue-sparing cervical fusion technology, today announced the publication of Novel instrumentation and technique for tissue sparing posterior cervical fusion in the Journal of Clinical Neuroscience by Bruce McCormack, MD and Raman Dhawan, MD.

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Providence Medical Technology Announces the Launch of CAVUX™ Cervical Cage-L and DTRAX® Spinal System-L

WALNUT CREEK, Calif.Nov. 7, 2016 /PRNewswire/ — Providence Medical Technology, Inc., an innovator in tissue-sparing cervical fusion technology, today announced the commercial launch of its new CAVUX Cervical Cage-L and DTRAX Spinal System-L.

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Providence Medical Technology Announces Presentation of Two-Year Outcomes of Posterior Cervical Fusion for Single-Level Cervical Radiculopathy

Walnut Creek, CA (May 20, 2016) ‐‐ Providence Medical Technology, Inc., an innovator in tissue- sparing cervical fusion technology, today announced that its two-year radiographic and clinical outcomes data of posterior cervical fusion using an expandable implant are being presented at Spine Week 2016 in Singapore.

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Providence Medical Technology Enhances Cervical Fusion Process With Introduction Of Proprietary Surface Technology to DTRAX Line of Tissue Sparing Devices

LAFAYETTE, Calif. — October 13, 2015 — Providence Medical Technology, Inc., an innovator in tissue-sparing cervical spine technology, today introduced its proprietary CavuxTM surface technology, designed to speed bone fusion during the healing process. The company’s portfolio of DTRAX® Cervical Cage implants will be available with Cavux, a unique surface technology that produces micro-textures on titanium surfaces. The micro- and nano- textures created across the implant surface area serve to enhance the fusion process.

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Providence Medical Technology Raises $12 Million Through a Combination of Equity and Debt Financing

Company Also Announces Appointment of Jason Hoffman as Vice President of Global Sales

LAFAYETTE, Calif. — August 26, 2015 — Providence Medical Technology, Inc., an innovator in tissue-sparing cervical spine technology, today announced the closing of $12 million in new financing for the company. The proceeds will be used to further commercialize and expand its portfolio of DTRAX® cervical fusion products designed to help patients suffering from cervical degenerative disc disease.

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