Thursday January 17, 2019 0 comments
LOUISVILLE -- Bolder Surgical -- formerly JustRight Surgical, -- today announced it has secured $27 million in financing led by River Cities Capital Funds with participation from Westwood Management, Providence Ventures and previous investors.
The company also announced its name change to Bolder Surgical as part of a re-branding initiative to better align the company with its long-term vision of a robust product portfolio that expands beyond pediatric care.
Bolder Surgical, founded in 2010, provides surgeons right-sized surgical instruments to safely and effectively perform minimally invasive surgery in pediatric patients from neonate to teenager.
The company's proprietary technologies fill a critical gap in minimally invasive surgery and are increasingly being adopted for use in adult patients.
New capital investments will focus on development of Bolder Surgical's product innovation pipeline, workforce increases and scaling commercial efforts, the company said.
"I am extremely pleased with the investment led by River Cities Capital Funds, which will enable the company to continue to innovate and create safer procedural approaches that improve physician control and patient outcomes," said Robert Kline, CEO of Bolder Surgical.
"Support from our highly respected investors further validates the company's innovative technology and the positive impact our instruments have on patients, surgeons and the healthcare system."
Carter McNabb, managing partner at River Cities Capital and Lair Kennedy, managing partner at Westwood Management, will join the company's board of directors.
Bolder Surgical devices are becoming the standard of care in pediatric surgery. The JustRight™ 3mm Vessel Sealer is the only sealing instrument on the market that has received FDA clearance for use in pediatric patients. The JustRight™ 5mm Mechanical Stapler, measuring 50% smaller than any existing devices, improves procedural approaches, access and safety.
"Bolder Surgical revolutionized minimally invasive surgery in children by providing right-sized instruments that improve access and visibility in the tiniest patients," said Kline.
"While our name has changed from JustRight, we remain committed to leveraging our technical expertise in micro-device technology and energy delivery to elevate expectations for all surgical procedures. Bolder Surgical defines our evolved vision and increases the opportunity to impact the lives of more patients."