Woburn, U.S.A-based fast-growing orthopaedic fixation technology company, Ossio, closed its Series C at USD 38.5 million. The company announced the closure on October 17, 2022. MVM Partners, a Boston- and London-based growth equity firm, led the financing for the firm.
As a part of the deal, Dr Reeders and his MVM colleague Dr Kevin Cheng join OSSIO’s board of directors.
Purpose of financing for Ossio
With the latest proceeds from Series C, the company intends to strengthen awareness of the patient benefits of bio-integrative OSSIOfiber implants.
It also has plans to accelerate new product platforms into the major orthopedic fixation markets. The latest capital injection will help the company to fuel new product development. It seeks to invest in sales force expansion, patient outreach and medical education.
What the Ossio official has to say
OSSIO’s chief executive officer, Brian Verrier, said, “We are delighted to have secured this level of interest and commitment from such an experienced and distinguished medical technology investment firm. The additional funding will enable us to accelerate further adoption of OSSIOfiber® Intelligent Bone Regeneration Technology by orthopedic and podiatric surgeons in the United States. Specifically, we intend to use these funds to fortify new product development, sales force expansion, patient outreach and medical education.”
What the investor has to say
Speaking on the recent development, MVM’s Dr Stephen Reeders, said, “We believe that OSSIO’s novel bio-integrative technology has the potential to transform the orthopedic fixation market. We are excited to support the company’s mission to improve patient outcomes across a broad range of procedures.”
MVM has invested in high-growth healthcare businesses since 1997. The firm has a broad, global investment outlook spanning across segments such as medical technology, pharmaceuticals, diagnostics, digital health, and other sectors of healthcare.
About the company
In 2014, Founders Orahn Preiss Bloom launched the company. The company caters as an orthopedic fixation company committed to transforming the orthopedic experience for patients, physicians and payors. Its vision is to provide the first credible replacement for metal implants in the multibillion-dollar global orthopedic fixation market with its OSSIOfiber Intelligent Bone Regeneration Technology. OSSIO’s development headquarters is located in Caesarea, Israel, and its US headquarters is in Woburn, Massachusetts.
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