Providence Medical Technology announces new equity financing of $10.5 million

Providence Medical Technology, Inc., an innovator in tissue-sparing, cervical-fusion technology, has announced the closing of $10.5 million in new equity financing for the company. The proceeds will be used to further commercialize and expand its portfolio of cervical-fusion technology.

Providence's family of cervical-fusion products now includes DTRAX® Spinal Systems, CAVUX™ Cervical Cages, ALLY™ Screw Systems, and BIOLOGIX™ Allograft Bone. The Company's cervical-fusion products are provided in sterile packaging for single use and fill critical gaps in the continuum of cervical spine care.

New investor MVM Life Science Partners ("MVM") led the financing and will join the Providence Board of Directors. Stanmore Medical Investments, Aphelion Capital, and existing private investors also participated in the round.

Dr. Bali Muralidhar, a partner at MVM said, "Providence's unique product suite addresses key unmet needs in cervical spine fusion surgery. MVM is delighted to support the business through the next phase of growth and to be working with such a high-quality CEO and management team."

Providence Chief Executive Officer Jeff Smith commented, "I am thrilled MVM is joining our group of supportive investors. MVM's deep scientific expertise and success globally commercializing medical technologies make them an ideal partner for Providence."

"We are excited by the continued growth of our business and wide adoption of our innovative, cervical-fusion technology," said Smith. "With our expanding product offering and growing body of clinical evidence, surgeons are increasingly choosing Providence. We are so pleased that our products are resulting in positive patient outcomes and resonating with spine surgeons and hospital administrators alike."

About MVM Life Science Partners LLP

MVM Life Science Partners LLP, founded in 1997, is a leading global healthcare Venture Capital / Private Equity firm based in London and Boston who manages four funds totaling over US$700 million. MVM invests across the Life Sciences market including biopharmaceuticals, diagnostics, drug delivery, gene therapy, medical devices, OTC medicines, research tools and vaccines. The MVM team has broad experience across the Life Science and Venture Capital / Private Equity markets. For more information:

About Providence Medical Technology, Inc.

Providence Medical Technology, Inc. is a privately-held medical device company developing innovative solutions addressing the $2 billion worldwide cervical spine market. The company is focused on commercializing the DTRAX platform of single-use, tissue-sparing instruments and CAVUX implants for cervical fusion, as well as other technologies that improve cervical spine procedures for both physicians and patients. For more information, visit

Providence Medical Technology, Inc.

Providence Medical Technology, Inc.
Cervical Spine Fusion

Latest News

MVM announces partial sale of its holding in Ambio

MVM Partners announces the partial sale of its holding in Ambio to The Carlyle Group

Alliance Pharma acquires Nizoral rights in APAC region

Alliance Pharma plc (AIM: APH), the specialty pharmaceutical company, is pleased to announce that it has agreed to acquire exclusive marketing rights to Nizoral, a medical, anti-dandruff shampoo brand, in Asia-Pacific from Janssen Pharmaceutica NV.

Alliance Pharma receives positive opinion for Diclectin

Alliance Pharma plc (AIM: APH), the specialty pharmaceutical company, announces that, following discussions with the Medicines and Healthcare products Regulatory Agency and the Commission on Human Medicines, the Marketing Authorisation Application for Diclectin® is now considered approvable.

Wilson Therapeutics AB announces public offer from Alexion Pharmaceuticals

Alexion Pharmaceuticals, Inc., has today, through Alexion Pharma Nordics Holding AB, announced a public cash offer to Wilson Therapeutics’ shareholders for a consideration of SEK 232 per Wilson Therapeutics share in cash (the “Offer”), which corresponds to a total offer value of approximately SEK 6,564 million, based on 28,292,272 shares outstanding.

Clinical study supports the use of Cheetah Medical's technologies

Cheetah Medical, a leader in non-invasive hemodynamic monitoring, has announced the publication of a major clinical study designed to evaluate stroke volume guided resuscitation in ICU patients with severe sepsis and septic shock

Vertos Medical Secures $28m in Latest Round of Funding

Vertos Medical Inc., a leader in the minimally invasive treatment of lumbar spinal stenosis has announced that it has completed a $28 million financing round.