WishBone Medical Obtains $20 Million in Financing From LKCM Headwater Investments
Summary
WARSAW, Ind., Oct. 22, 2020 (GLOBE NEWSWIRE) -- WishBone Medical, Inc., a leader in pediatric orthopedic medical devices, today announced the recent completion of a $20 million equity round, fully funded by LKCM Headwater Investments (“LKCM Headwater”), the private equity arm of Luther King Capital Management which is an SEC-registered investment adviser with approximately $20 billion in assets under management. As the only pediatric company providing single-use, sterile packed procedure kits, WishBone will use proceeds of the financing to support commercial expansion, develop new product systems and fund other operational initiatives. “Over the past year, LKCM Headwater kept a close eye on WishBone Medical as the company continued to exceed expectations and create opportune partnerships. We believe in their mission to provide leading edge, anatomically appropriate solutions to surgeons caring for children and, in the year 2020, the need for their sterile packed kits is more evident than before.” “We greatly look forward to partnering with WishBone and serving on their board of directors; beyond taking part in the noble cause of improving the lives of young patients, Michael and I will have ‘front-row’ seats as the company continues to take a leading role in bringing innovative products to the pediatric orthopedics market.” After researching a number of financial institutions, WishBone Medical ultimately determined LKCM Headwater Investments to be the ideal partner based on the group’s unique strategy of establishing market-leading businesses and building long-term value. Prior to LKCM Headwater, Mr. Bornitz was with the Transaction Advisory Services group of Ernst & Young, where he served as an advisor to middle market private equity funds and strategic buyers.