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Home » SBi secures $43M loan | Funding Roundup

SBi secures $43M loan | Funding Roundup

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Star ankleStar total ankle replacement

Orthopedic technology company Small Bone Innovations Inc. landed a $43 million loan to further sales of its flagship ankle replacement device.

The New York-based company plans to use the credit facility as working capital to drive U.S. growth of its Star total ankle replacement, a non-cemented implant designed to replace arthritic ankle joints in patients with osteoarthritis, post-traumatic arthritis or rheumatoid arthritis.

The system is currently the only mobile-bearing total ankle replacement approved for the U.S. market.

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"We believe that the Star ankle continues to be the number one total ankle replacement system in the world," Anthony Viscogliosis, SBi’s chairman & CEO said in prepared remarks. "This new credit facility represents both a vote of confidence in our business model and underlines the potential of the small bone and joint market as the fastest growing sector in the orthopedic devices market

The secured credit facility was provided by New Health Capital Partners LLC.

Funding

Here’s a roundup of other dealflow and investment news:

Hansen Medical inks $30M debt facility
Hansen Medical Inc. secured a $30 million debt facility through Oxford Finance and Silicon Valley Bank. Read more

Life Image lands $8M
Newton, Mass.-based imaging software firm Life Image Inc. raised $8 million in a new funding round. Read more

Harbor Medtech raises $600,000 for Edwards’ tech
Orange County, Calif.-based Harbor Medtech, which makes treatments for diabetic skin ulcers and bedsores, raised more than $600,000 from private investors to commercialize technology developed by Edwards Lifesciences. Read more

Calif. HealthCare Foundation funds Direct Dermatology
Direct Dermatology landed $240,000 in funds from the California Health Care Foundation’s health innovation fund. Read more

Cleveland Clinic Innovations receives $11M gift
Cleveland Clinic Innovations landed an $11 million gift, its largest ever. West Virginia billionaire James Justice donated $10 million, while group chairman Thomas Graham donated the remaining $1 million. Read more

Brown University prof wins RI business award
Kipp Bradford, entrepreneur and Brown University lecturer won the Rhode Island Business Plan Competition for his emergency cooling system aimed at first-responder ambulances. Read more

Industry report lands Interface Biologics $1M
Ontario, Canada-based Interface Biologics landed $1 million in financing to fund clinical trials after a report by the Ontario Bioscience Industry Organization. Read more

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