Private equity firm HealthpointCapital said yesterday it raised $100 million for its Musculoskeletal Fund IV healthcare fund.
The new fund will aim to invest in differentiated technology and service companies in the orthopedics, spine, dental, maxillofacial, rehabilitation and digital health sectors.
“The first closing for Fund IV represents a milestone and a validation of our strategy. Musculoskeletal healthcare offers attractive opportunities that require not only capital, but also operational expertise and strong healthcare professional and commercial relationships,” president Mike Mogul said in a prepared statement.
The fund has a target size of $500 million, and aims to invest in eight to ten growth-stage companies.
“Healthcare is rapidly evolving, and we will continue to focus on innovation that addresses both patient outcomes and care costs. We are grateful for our investors’ support and are actively sourcing new investments for the fund,” founder & CEO John Foster said in a prepared statement.
The PE firm said that it has previously backed companies including Blue Belt Technologies, which was acquired by Smith & Nephew (NYSE:SNN) , and BioHorizons, which was acquired by Henry Schein (NSDQ:HSIC). Schein, Inc.).