Accelus announced that it received a significant financial investment through a $20 million debt facility from Symbiotic Capital.
Palm Beach Gardens, Florida-based Accelus says the strategic funding represents a critical milestone in the company’s journey. It aims to establish itself as the global market leader in expandable spinal implant solutions.
Adding the capital strengthens its balance sheet and enables Accelus to aggressively expand its salesforce. The company targets previously underpenetrated markets and hopes to progress its research and product development efforts. It singled out the efforts toward its flagship FlareHawk and Toro expandable interbody fusion systems.
The funding helps support the company’s renewed focus on its Adaptive Geometry technology with additional clinical studies. Accelus touts a unique design demonstrating favorable fusion and patient outcomes in clinical reports. FlareHawk in particular can conform to patients’ endplate geometry, the company said.
“Symbiotic Capital’s investment is a testament to the growth potential of Accelus’s technology and our vision for the future of minimally invasive spine care,” said Kevin McGann, president & CEO of Accelus. “Symbiotic Capital is an ideal partner for Accelus, sharing our commitment to innovations that support surgeons and improve patient outcomes, and their support will be instrumental in broadening our market reach and speeding up our R&D to ensure we stay at the forefront of spinal implant technology.”