All of us at Mutual Capital Partners are thrilled to announce the first investment out of our third fund into Cleveland-based medical device company, Checkpoint Surgical.
Checkpoint Surgical provides surgeons with state-of-the-art neurodevices to locate and identify nerves and to evaluate nerve and muscle excitability in surgical procedures. Their handheld nerve stimulation and monitoring devices give surgeons real-time, reliable, and reproducible data regarding nerve structures in the surgical field.
Mutual Capital Partners led an $8.8M preferred round and existing investors, First Analysis and the JumpStart NEXT Fund, participated in the financing as well as several individual investors.
Wayne Wallace, co-founder of Mutual Capital Partners, said about the investment: "We spoke with many of Checkpoint's surgeon-users and distributors and were impressed with the enthusiasm expressed by key opinion leaders at world renowned medical institutions using Checkpoint's technology. Checkpoint has the core technology and team needed to build a significant business in a large, high-growth market. We look forward to helping the team build on prior success in the nerve protection and repair space."
Read more about the investment opportunity here