[August 27, 2014] |
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Surgical Frontiers Announces Closing of $7 Million Fund
LOGAN, Utah --(Business Wire)--
Surgical Frontiers announces that it has recently closed on a $7 million
fund to invest in its business incubator for surgical technology
start-up companies focused primarily on musculoskeletal markets.
The fund will be held by Surgical Frontiers Series I, LLC and invested
in portfolio companies incubated by the management and product
development company, Surgical Frontiers, LLC. Initial funding
commitments have been made to the first three portfolio companies
addressing the following segments of the orthopedic medical device
market: foot and akle, sports medicine and trauma.
"By identifying unmet clinical needs and than 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," stated Wade Fallin, CEO of
Surgical Frontiers. "In addition to our current focus on these first
three portfolio companies, our scalable business model allows us to
pursue additional opportunities to collaborate with surgeons, industry
and universities to fund, launch and operate development stage companies
in the medical technology market."
About Surgical Frontiers
Surgical Frontiers funds, launches and operates start-up companies to
develop advanced surgical technologies that are ready for clinical use.
Focused primarily on musculoskeletal injuries and pathologies, the
company collaborates with surgeons, industry, universities and investors
to bring advanced surgical technologies to the market that improve
healthcare.
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