PainTEQ, a company at the forefront of minimally invasive treatment for sacroiliac (SI) joint dysfunction, has announced a significant milestone in its growth journey with the completion of a majority recapitalization. The funding was co-led by Signet Healthcare Partners and Windham Capital Partners. The recapitalization also includes a new equity investment from MVolution Partners, adding further strength to PainTEQ’s financial foundation and strategic direction.
This infusion of capital marks a pivotal moment for PainTEQ, enabling the company to pursue a more aggressive expansion strategy across multiple fronts. With new ownership and committed resources, PainTEQ is set to accelerate its clinical research initiatives, including prospective studies that will further validate its technology and expand its therapeutic reach. The investment will also support the development of next-generation products, building on the success of its flagship offering, LinQ, and enhancing the company’s ability to meet the evolving needs of physicians and patients.
LinQ, PainTEQ’s proprietary SI joint implant, has already made a meaningful impact in the field of interventional spine care. Unlike traditional fusion techniques, LinQ is delivered through a minimally invasive posterior approach and does not require drilling. The implant is allograft-based, designed to promote stability and healing while minimizing trauma to surrounding tissues. Since its introduction, LinQ has been used in more than 14,000 procedures, and multiple peer-reviewed studies have supported its clinical efficacy. Among these is the SECURE study, a prospective trial that demonstrated significant improvements in both pain reduction and functional outcomes, along with a strong safety profile.
PainTEQ’s success is not solely rooted in its technology. The company has shown consistent operational discipline and commercial leadership under the guidance of CEO Shanth Thiyagalingam. With more than twenty years of experience in interventional medicine and senior roles at industry leaders such as Abbott, Nevro, and Stryker, Thiyagalingam has brought a clear strategic vision and a deep understanding of the market dynamics that shape the spine care landscape.
The recapitalization comes at a time when SI joint dysfunction is gaining broader recognition as a significant contributor to chronic lower back pain. Historically underdiagnosed and undertreated, SI joint issues are now being addressed with more targeted interventions, and PainTEQ is playing a central role in that shift. The company’s approach combines clinical rigor with practical innovation, offering solutions that are not only effective but also accessible to a wide range of providers.
With expanded financial backing, PainTEQ is poised to deepen its commercial footprint across the United States, reaching more physicians and patients through enhanced distribution and education efforts. The company also plans to invest in its internal infrastructure, ensuring that it can scale efficiently while maintaining the high standards of quality and service that have defined its brand.
Looking ahead, PainTEQ is focused on building a comprehensive platform in interventional spine care, one that goes beyond SI joint fusion to address a broader spectrum of musculoskeletal conditions. The support from Signet, Windham, and MVolution provides the resources and strategic insight needed to realize that vision, positioning PainTEQ for long-term leadership in a rapidly evolving field.
Advisors: Raymond James served as financial advisor to PainTEQ. Legal counsel included Hill Ward Henderson; Bass, Berry & Sims; Sheppard, Mullin, Richter & Hampton; and Knobbe Martens. Transaction terms were not disclosed.
KEY QUOTES:
“Partnering with experienced institutional healthcare investors at Signet and Windham marks an exciting chapter for PainTEQ. With a strengthened balance sheet and new committed ownership group, we are well positioned to deliver innovative solutions for patients suffering from SI joint dysfunction and to continue building a category-leading interventional platform. We are grateful to the founding team and prior owners for laying the groundwork that enables this next phase of company growth.”
Shanth Thiyagalingam
“This investment validates SI joint fusion as a critical treatment pathway. It will accelerate innovation and advance research, expanding treatment options in interventional spine care and making this procedure a long-term standard of care.”
Dr. Dawood Sayed, Professor and Division Chief of Pain Medicine at the University of Kansas Medical Center and Vice Chair and Co-Founder of the American Society of Pain and Neuroscience (ASPN)
“We were compelled to invest in a future that delivers safer, more effective solutions for physicians and patients. PainTEQ’s innovative, minimally invasive technology and strong leadership are exactly what the interventional spine care market needs.”
David Kereiakes, Managing Partner at Windham Capital Partners
“We are delighted to partner with Shanth and the PainTEQ team to leverage the company’s leadership position in SI joint treatment. With additional investment in clinical studies and pipeline products, we believe PainTEQ is well positioned to become a leading multi-product interventional spine platform.”
Ashley Friedman, Managing Director at Signet Healthcare Partners
