Navigation Links
Paradigm Spine Closes $21.5 Million Financing and Announces Promotion of Matt Stuttle to Position of Vice President, US Sales
Date:7/27/2009

NEW YORK, July 27 /PRNewswire/ -- Paradigm Spine, LLC, a developer of innovative non-fusion spinal implant solutions, announced that it has completed a $21.5 million financing, consisting of a $15mm debt facility and $6.5mm equity. Fifth Third Bank was the sole lender in the $15mm venture debt funding. The $6.5 mm of equity was led by Praefinium Group, a global asset management group specializing in high-growth opportunities, and Trevi Health Ventures, a venture capital firm specializing in healthcare investments.

The proceeds from this financing will be used to strengthen the US sales infrastructure, fund the Company's ongoing US clinical trial of the coflex((R)) device, and drive further international expansion of the company's product portfolio. The Company believes this financing will carry it through to profitability in 2010.

Marc R. Viscogliosi, Chairman and CEO of Paradigm Spine, LLC, said "Paradigm's ability to raise capital despite this current economic situation reinforces the strength and quality of our organization, and the confidence our investors have in the success of the company. Paradigm has demonstrated a strong track record over the past 4 years, with sales growing at a CAGR of over 60% from 2005 - 2008. Worldwide revenues grew 63% 2Q09 vs. 2Q08 and growth was more than 15% when comparing sequentially 2Q09 vs. 1Q09. We are particularly pleased with this performance despite economic headwinds and slowing surgical volumes and expect this growth to continue with the expansion of the US Sales team. "

Jeff Thieman, vice president of National Healthcare Finance at Fifth Third Bank added: "We are pleased to do business with a market leader in the advancement of innovative non-fusion spinal implant products. The new capital will support Paradigm as the Company positions itself for future growth. At Fifth Third Bank, we are committed to responsible lending for our comme
'/>"/>

SOURCE Paradigm Spine, LLC
Copyright©2009 PR Newswire.
All rights reserved

0

GOOD

Page: 1 2 3

Related medicine news :

1. Changing Paradigms in Hereditary Angioedema: A Focus on Timely Diagnosis and New Therapies
2. Changing Paradigms in Hereditary Angioedema: Pathophysiology, Diagnosis and Treatment
3. The Beryl Companies Reinvents Call Center, Shatters Old Paradigm
4. National Womens Health Report Addresses Issues of Uninsured Plus New Paradigms of Care
5. New CME guidelines advise paradigm shift in physician education
6. Cancer Researcher Dan Von Hoff, M.D. Advocates for "Context of Vulnerability," A Powerful New Paradigm for Targeted Drug Development
7. Topical treatment for cold sores achieves efficacy of oral drugs; represents paradigm shift
8. DIA Conference to Provide New Paradigms in Evidence-Based Medicine and Health Technology Assessment
9. New KLRI Reports Shows Longevity Science Moving Beyond Studying the Obvious to the Downward Spiral Paradigm in the Aging Process
10. Siemens New Ultrasound Platform Revolutionizes the Paradigm of Echocardiography
11. Paradigm shift: Switch for programmed cell death promotes spread of glioblastoma

Post Your Comments:
*Name:
*Comment:
*Email:
(Date:11/21/2009)...PRNewswire-FirstCall/ -- Test Test Test Test,Test ...Test Test Test Test,Test Test Test Test Test Test ...Test Test Test Test Test Test Test Test Test Test ... test More test More test More test,More test More... test More,test More test , , Please ignore., ...
(Date:11/21/2009)...l Group merges their practice with that of E. Stev... (PRWEB) November 21, 2009 -- The New H... Gibson, Dr. Dean Cloutier, Dr. John Plachtyna and...g practice with that of esteemed colleague Dr. E. ...nted to retire from dentistry in order to concentr...
(Date:11/20/2009)...wswire-USNewswire/ -- The United States Conference...ntial changes its health reform bill in order to k...onscience protection on abortion, protect access t...ovisions for adequate affordability. ,, The bis...us disappointment" that creates new and unacceptab...
(Date:11/20/2009)...ire-FirstCall/ -- Centene Corporation (NYSE: C...ank of America Merrill Lynch 2009 Credit Conferenc...aza Hotel Times Square in New York City. ,, Cen...a.m. Eastern Time. Investors and other interested ...e,s presentation at: http://www.veracast.com/webc...
(Date:11/20/2009)...20 in the Journal of the National Cancer Institut...often appear in news coverage of cancer research. ... and journals to help alleviate the problem. , L...M.D., M.S., of Center for Medicine and the Media a...inical Practice in New Hampshire, and Barnett S. K...
Breaking Medicine News(10 mins):Health News:New Haven Dental Group Expands Their Vision 2Health News:U.S. Bishops Voice Disappointment in Abortion-Funding Provisions in Senate Health Bill, Urge Better Care for Immigrants and Affordability 2Health News:Promoting healthy skepticism in the news: Helping journalists get it right 2
...ad looked into a data comprising of 5461 girls bet...al activity often makes these girls more prone to ... the participants take part in vigorous physical a...ical activity for fewer hours per week. The study ...
...that tumor necrosis factor (TNF)-รก-blocking therap...hritis cause skin problems. The study done by...en Medical Centre of The Netherlands had taken int...s in 72 patients were found in the follow up study...
...ty of Mississippi Medical Center US have found out...hypertension and high blood pressure. 3216 pe...ypertension were subjected to 24 hr monitoring of ...ure. The BMI could also be positively correlated w...
... rats suggests that eating onions may be the key t.... Researchers have identified a compound in o... the bone disease. The study had involved segregat...o the peptide GPCS. The treatment with the peptide...
...al Cancer Institute Maryland USA had found out a g...eing// called Hutchinson-Gilford progeria syndrome...in the gene called LMNA. This gene is one of the m...bnormalities in the nuclear envelope structure. ...
...ing a claim that there may be evidence of insulin ...//diabetes. In the cases where there are evidence ...the brain, the levels of both are related to Alzhe... pancreas, but in the brain as well. There had bee...
Other Medicine News:
(Date:11/20/2009)..., PLYMOUTH MEETING, Pa., Nov. 20 /PRNewswire-USN...s article that questions why currently available ...cers are being ignored, ECRI Institute, an indepen... to the evidence on Finasteride for Prevention of...ovember 13, 2009, New York Times article, " Drug...
(Date:11/20/2009)...MEMPHIS, Tenn., Nov. 20 /PRNewswire-FirstCall/ -...Division is pleased to announce the signing of a t...tes Department of Defense that may lead to the cre...volutionize the treatment of the limbs of soldiers..., the Defense Advanced Research Projects Agency (D...
(Date:11/19/2009)..., ARDEE, Ireland, Nov. 19 Warner C...ricing of its previously announced secondary offer...e to the public of $22.25 per share. The selling ...pital Partners, DLJ Merchant Banking, J.P. Morgan ...ee Partners, L.P., certain other institutional inv...
Breaking Medicine Technology:ECRI Institute Releases Roadmap to the Evidence on Finasteride for Prevention of Prostate Cancer: New Hotline Report to Aid Healthcare Decision Makers and Journalists 2ECRI Institute Releases Roadmap to the Evidence on Finasteride for Prevention of Prostate Cancer: New Hotline Report to Aid Healthcare Decision Makers and Journalists 3Smith & Nephew Orthopaedics Selected to Develop New Technology for Treating Battlefield Injuries 2Smith & Nephew Orthopaedics Selected to Develop New Technology for Treating Battlefield Injuries 3Smith & Nephew Orthopaedics Selected to Develop New Technology for Treating Battlefield Injuries 4Warner Chilcott Prices Secondary Equity Offering 2Warner Chilcott Prices Secondary Equity Offering 3Warner Chilcott Prices Secondary Equity Offering 4UAB researchers find TB prevention therapy is cost effective option 56588 1UAB researchers find TB prevention therapy is cost effective option 56588 2Lead in bone associated with increased risk of death from cardiovascular disease in men 56585 1Lead in bone associated with increased risk of death from cardiovascular disease in men 56585 2Baby boomers boon 3F LED light and green tea cream to smooth facial wrinkles 9842 1
...utics,(Nasdaq: NKTR ) announced today that positi...ne programs will be presented at numerous medical ...ese presentations will,highlight Nektar,s novel th...-infectives and central nervous system (CNS), whic...lation and liquid aerosol platforms., The data pr...
...research for,mechanical circulatory support in ped...H) National Heart, Lung, and Blood Institute (NHLB...iscussed at the International Society,for Heart an... and,Scientific Sessions. The meeting is ongoing t...ynes Convention Center., The use of mechanical ci...
Other Medicine Technology:Nektar Therapeutics to Present Positive Data at Upcoming Medical and Scientific Meetings 2Nektar Therapeutics to Present Positive Data at Upcoming Medical and Scientific Meetings 3Nektar Therapeutics to Present Positive Data at Upcoming Medical and Scientific Meetings 4New Research for Mechanical Support Devices in Pediatrics to Be Released at International Heart and Lung Transplant Meeting 2
...ies is a national reference laboratory and a world...development. ARUP offers an extensive test menu of...al and anatomic pathology. Owned by the University...than half of the nation's university teaching hosp...
...ies is a national reference laboratory and a world...development. ARUP offers an extensive test menu of...al and anatomic pathology. Owned by the University...than half of the nation's university teaching hosp...
...ies is a national reference laboratory and a world...development. ARUP offers an extensive test menu of...al and anatomic pathology. Owned by the University...than half of the nation's university teaching hosp...
...ies is a national reference laboratory and a world...development. ARUP offers an extensive test menu of...al and anatomic pathology. Owned by the University...than half of the nation's university teaching hosp...
Medicine Products: