Imperative Care announced today that it closed an oversubscribed convertible note financing totaling $100 million.
New investors, Elevage Medical Technologies and Perceptive Advisors, co-led the financing in partnership with existing investor Catalio Capital Management. Additionally, new investors Longaeva Partners LP and Brown Advisory participated. Existing investors, including Ally Bridge Group and Bain Capital Life Sciences, supported the funding, too.
As part of the financing, the Campbell, California-based company added Dr. Evan Melrose to its board of directors. Melrose, a seasoned medtech investor and healthcare innovator, serves as CEO of Elevage Medical Technologies. He brings extensive experience identifying and supporting innovative medical technology companies, Imperative Care says.
Imperative Care plans to use the proceeds to support the continued commercialization of its stroke and vascular thrombectomy portfolios. It also plans to use funds to invest in next-generation technology and new product development. That includes the Telos robotic platform currently in development. Telos was designed to enable physicians to perform aspiration thrombectomy procedures, both on-site and remotely. According to a news release, it could save lives across both developed and developing economies, regardless of location.
The company also plans to use funds for clinical evidence generation to further demonstrate the technologies’ impact on patient outcomes.
“This financing is a reflection of the strong momentum we have built and the confidence our investors — new and existing — have in our vision,” said Fred Khosravi, chair and CEO of Imperative Care. “We are expanding access to life-saving technologies for patients at the most critical moments of their lives, and this capital positions us to continue driving forward on that mission across stroke, vascular, and beyond.”
