Shoulder Innovations, a leader in shoulder replacement technology, announced the closing of a $40 million Series E equity financing round. The funding was led by existing investor U.S. Venture Partners (USVP), with support from additional existing investors, including Gilde Healthcare Partners, Gilmartin Capital, and Aperture Venture Partners. New investors Arboretum Ventures and Sectoral Asset Management also participated.
The proceeds from this funding will be used primarily to advance the commercialization of the Company’s InSet Total Shoulder and Reverse Shoulder Arthroplasty Systems, support new product development, and for general corporate purposes.
KEY QUOTES:
“Over recent years, we have significantly expanded our product line, strengthened our sales organization, and emerged as a pure-play leader in shoulder arthroplasty. We appreciate the support of our new and existing investors and see this financing as well-timed as we hone our focus on accelerating commercial momentum and advance our mission of enabling best-in-class outcomes for shoulder specialists and their patients.”
- Rob Ball, CEO of Shoulder Innovations
“Shoulder Innovations has established compelling clinical credibility with its disruptive and highly differentiated InSet technology, and U.S. Venture Partners is pleased to continue supporting the Company by leading this financing round. Looking ahead, we believe Shoulder Innovations is well-positioned to further advance patient outcomes while delivering economic benefits to healthcare practitioners as a leading innovator in the shoulder arthroplasty market.”
- Casey Tansey, General Partner at U.S. Venture Partners
