Turbett Surgical, a Rochester, New York based medical device company focused on improving operating room and sterile processing department efficiency, said it has completed a recapitalization and growth investment led by J.P. Morgan Life Sciences Private Capital.
The company said proceeds from the financing will be used as working capital to support further product innovation and to scale Turbett Surgical’s commercial team as it responds to customer demand for its Instrument Pod sterilization solution.
Turbett Surgical’s Instrument Pod is designed to help hospitals and ambulatory surgery centers reduce surgical paper waste and save staff time by changing how instrument trays are prepared and how operating rooms are readied for procedures. The company positioned the product as an alternative to the traditional “blue wrap” method used in surgical tray preparation, noting that the Instrument Pod can eliminate the need for blue wrap while also reducing labor requirements in both the operating room and sterile processing workflows.
J.P. Morgan Life Sciences Private Capital said its investment is intended to help expand Turbett Surgical’s customer reach across the U.S. healthcare market, which it characterized as more than 8,000 hospitals and ambulatory surgery centers.
Turbett Surgical said the transaction represents its first institutional financing. The company described the partnership as a step toward accelerating growth and expanding adoption of its sterilization technology across surgical and sterile processing departments.
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“Our team is thrilled to partner with Turbett on their mission to accelerate growth, and bring this eco-friendly and labor sparing solution to more hospital and ASC customers. Every year tons of medical waste are generated by the antiquated ‘blue wrap’ method of surgical tray preparation for sterilization. The Instrument Pod solution eliminates the need for blue wrap while saving customers valuable staff time in preparing trays for surgeries.”
Joe Siletto, Managing Partner, J.P. Morgan Life Sciences Private Capital
“The investment from J.P. Morgan Life Sciences Private Capital is a wonderful evolutionary step for Turbett Surgical, allowing us to accelerate our mission of increasing surgical efficiency. J.P. Morgan Life Sciences Private Capital will facilitate reach into even more hospitals and ASC’s surgical and sterile processing departments, where we will continue to reduce operating room downtime and simplify surgical instrument reprocessing.”
Rob Turbett, Founder, Turbett Surgical
“Through relentless innovation and commitment to excellence, Turbett Surgical has become the preferred choice for healthcare facilities seeking superior surgical instrument sterilization. We are incredibly excited to join forces with J.P. Morgan Life Sciences Private Capital to propel Turbett Surgical to unprecedented heights, ensuring that more patients and surgical teams benefit from our groundbreaking sterilization technology.”
Alex Zapesochny, Chairman, Turbett Surgical
“We are proud to partner with Turbett on its journey in transforming the OR and SPD, and to help support expansion of their customer base to the over 8,000 hospitals and ASCs in the U.S. We look forward to collaborating with Turbett as they continue to deliver measurable impact and value to hospitals and ASCs alike.”
Anne Stone, Investor, J.P. Morgan Life Sciences Private Capital
