Integrity Orthopaedics Closes $20.6M Series B Financing
Summary
The round was led by Piper Sandler Merchant Banking and an undisclosed existing investor. The company intends to use the capital to expand the US commercial launch of its initial product in the rotator cuff repair market. Its system, FDA cleared in early 2023 and initially utilized by a small group of surgeons in a limited launch, uses patented micro-anchors, a continuous, locking stitch, a patented instrument for anchor installation and operative techniques to enable physicians to improve the fixation and healing of torn tendons. The company has begun a paced expansion of its field sales team, with the goal of working with innovative orthopedists in select markets throughout the country. This roll out is expected to broaden over time, as Integrity Orthopaedics ramps up its staffing, production volumes and physician education resources.