Jupiter, Florida – Stanmore Medical Investments is pleased to announce that MedVest Fund One has invested into Bay Area based Providence Medical Technology. MedVest Fund One’s investment will support Providence’s U.S. launch of its full DTRAX product portfolio. .
Providence has developed DTRAX, a broad minimally invasive platform for cervical fusion. DTRAX is a less invasive option for the more than 250,000 U.S. patients receiving cervical fusion annually. DTRAX instruments and implants provide indirect decompression and stabilization for the treatment of cervical degenerative disc disease. DTRAX products are provided in sterile-packaged single-use kits to increase efficiency and reduce overall procedural costs.
Providence’s expansion into the U.S. market will build upon its successful international launch, positive safety and efficacy results published in the Journal of Neurosurgery, and recent US FDA 510(k) clearances for PMT Bone Screws and PMT Cervical Cage. Proceeds from the investment will be used to fund an expansive surgeon training program and development of the company’s distribution network
“We are very excited to announce this investment,” said MedVest Fund One Principal, David Cash. “While we like the technology, we invest in people and we love this team. The team assembled at Providence is talented, focused and motivated. We are excited to support their efforts. “
Providence Medical Technology is a privately held medical device company developing minimally invasive solutions addressing the $1 billion worldwide cervical spine market. For more information on Providence Medical Technology contact David Schummers at (415) 925-9376 or firstname.lastname@example.org
Medvest Fund One is an $8.0 million private equity fund targeting medical device and technology companies who are positioned for growth and share the Fund’s core values. The Fund is accepting subscriptions. For more information contact David Cash at (561) 459-3333 or email@example.com