Providence Medical Technology Obtains $12,000,000 New Financing

Feed Type
Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=1278c4ed-af5d-499a-886e-c8620407c531
Date
8/26/2015
Company Name
Providence Medical Technology
Mailing Address
3650 Mt. Diablo Ave. Lafayette, CA 94549 USA
Company Description
A privately-held medical device company developing minimally invasive solutions addressing the $1 billion worldwide cervical spine market. Commercializing the DTRAX platform of minimally invasive posterior cervical implants and instruments to treat cervical degenerative disc disease through indirect decompression and stabilization.
Website
http://www.providencemt.com
Transaction Type
Debt
Transaction Amount
$12,000,000
Transaction Round
Undisclosed
Proceeds Purposes
The proceeds will be used to further commercialize and expand its portfolio of DTRAX cervical fusion products designed to help patients suffering from cervical degenerative disc disease.
M&A Terms
Venture Investor
Stanmore Medical Investments
Venture Investor
Aphelion Capital
Venture Investor
Silicon Valley Bank