Proceeds to assist with expansion of Ascension's product line and
AUSTIN, Texas, Jan. 21 /PRNewswire/ -- Ascension Orthopedics, Inc., an emerging medical device company that develops, manufactures and markets joint replacement, trauma and tissue regeneration surgical implants for use in upper and lower extremities, announced today that it has secured $21 million in a Series D financing. This new round of funding will be used primarily to expand the current product line and enhance the Company's product marketing and distribution network.
Leading this Series D financing as the majority investor is Frazier Healthcare Ventures, one of the nation's leading providers of venture and growth equity capital to emerging healthcare companies. Alan Frazier, General Partner and Founder of Frazier Healthcare Ventures will join Trevor Moody, General Partner of Frazier Healthcare, and Steven Tallman, Venture Partner of Frazier Healthcare on Ascension's Board of Directors.
"We feel that Ascension is uniquely positioned to experience substantial revenue growth with the expansion of its distribution network and product line and are pleased to have the opportunity to be a part of this growth development," comments Trevor Moody, General Partner of Frazier Healthcare.
In addition to this financing, Ascension Orthopedics is pleased to
announce that Mr. Andrew J. Miclot will join the company as CEO. Mr. Miclot
brings more than 25 years of experience in executive management and
marketing within the orthopedic industry. He was most recently Global
Senior Vice President of Marketing Orthopedics at Orthofix. Prior to this,
he held senior positions at leading medical device companies including
Symmetry Medical, DePuy and Zimmer. During his 13 years at Symmetry
Medical, where he held a variety of senior positions including Senior Vice
President and Investor Relations Officer, Andy played a meaningful role in
|SOURCE Ascension Orthopedics, Inc.|
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