Conventus Orthopaedics, Inc., a Maple Grove, MN-based medical device company focused on creating less invasive solutions to treat a broad range of challenging peri-articular fractures, closed a $10m credit facility.
Oxford Finance LLC and Square 1 Bank provided the credit facility.
The company intends to use the proceeds to commercialize the FDA cleared and CE-marked Conventus DRS™ to treat distal radius fractures and to further accelerate the development and commercialization of new indications for the Conventus platform technology.
Led by Paul Buckman, Chief Executive Officer, Conventus has developed DRS technology to provide clinicians with a self-expanding implant that stabilizes the fracture fragments from within the bone. The surgical procedure requires a minimal incision on the forearm and minor incisions at the wrist and reduces surgical trauma compared to traditional plate and screw fixation surgery.
FinSMEs
23/04/2014