Catalyst Orthoscience Announces $12.3 Million Oversubscribed Financing
Catalyst OrthoScience Inc. (Catalyst), a medical device company focused on the upper extremity orthopedics market, has raised $12.3 million in an oversubscribed Series D financing round led by River Cities Capital (River Cities) and Mutual Capital Partners (Mutual Capital).
“This funding round comes at a pivotal time for the Catalyst OrthoScience team,” said Brian K. Hutchison, chairman and CEO of Catalyst. “We are experiencing a significant period of growth, and this funding allows us to enhance our innovative product portfolio with further technological advancements in the shoulder arthroplasty space and expand our team across all areas.”
Catalyst has had an incredible year of growth with product introductions that address preoperative planning and reverse total shoulder arthroplasty – the fastest growing segment of the shoulder arthroplasty market. So far this year, Catalyst has:
rebranded its product portfolio with the Archer family name,
received FDA 510(k) clearance and began a limited launch for the Archer R1 Reverse Shoulder System and
introduced its Archer 3D Targeting imaging software for its current product offerings.
Additionally, the Archer CSR Total Shoulder System, Catalyst’s stemless, ellipsoid anatomic system, has continued rapid adoption and growth. Today, the Archer shoulder systems have been used in more than 3,000 surgeries. The first patients are more than five years post-surgery with excellent clinical results.
“We are happy to support Catalyst’s significant momentum and advancing the efforts in shoulder arthroplasty,” said Carter McNabb, managing director at River Cities and a member of Catalyst’s board of directors.
Read more about the financing round here