Checkpoint Surgical Completes $16M Equity Financing
Checkpoint Surgical, Inc., a privately held US-based medical device company with proprietary neurostimulation technology for nerve protection and repair, announced today the completion of a $16 million capital raise led by River Cities Capital, a Cincinnati-based healthcare-focused growth equity firm. Existing backers also participated in the round, including Cleveland-based venture funds Mutual Capital Partners and JumpStart NEXT Fund, First Analysis, a growth equity firm based in Chicago, and several other investors.
“Rivers Cities is delighted to partner with the Checkpoint team in this fast-evolving sector. Our market and clinical diligence confirmed Checkpoint’s leadership within the nerve care sector and our previous iterations with the management team gave us great confidence on their ability to execute on the opportunity. We are in the early innings of peripheral nerve management and Checkpoint will be a significant factor in the space going forward,” said Carter McNabb, Managing Director at River Cities Capital.
“We witnessed firsthand Checkpoint’s impressive growth and development of a leadership position in the peripheral nerve care space. We look forward to our continued partnership with Checkpoint and now welcome River Cities Capital to the team,” said Wayne Wallace, Managing Director of Mutual Capital Partners, who was instrumental in bringing River Cities to the table.
The growth capital will be used to support Checkpoint’s sales force expansion and multiple new product launches, including the recently acquired NeuroShield nerve wrap, as well as fueling continued research and development efforts. With a specialized, dedicated sales force of 30 and growing, and a substantial multi-disciplinary R&D team, Checkpoint Surgical is well equipped to scale the business rapidly.
Read more about their financing here