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Providence Medical Adds Venture Capital Equity and Debt

Thursday, August 27, 2015 5:45:00 AM PDT | VentureDeal
   Lafayette, California  --  Medical device technology company Providence Medical Technology has closed a $12 million in venture capital equity and debt investment, according to a company statement.

Providence develops minimally invasive solutions for patients suffering from cervical spine conditions.

Investors in the round included Stanmore Medical Investments, Aphelion Capital and Silicon Valley Bank.

Providence said it would use the proceeds to commercialize and expand its portfolio of DTRAX cervical fusion products to help patients with cervical degenerative disc disease.

The company believes that the worldwide market size for this condition exceeds $1 billion.

Company CEO Jeff Smith has been with the firm since September 2008.

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PCI - Level1