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Credit Suisse supports spine surgery device maker through $15m Series C

14 May 2013

Lanx spineCredit Suisse Asset Management has backed a $15m Series C equity financing round for spinal surgery device maker Lanx.

The company said all of its existing preferred equity investors also took part in the round, including Chicago Growth Partners, Goldman Sachs Private Equity Opportunities Fund, Noro-Moseley Partners and Oakwood Medical Investors.

New investors Hercules Technology Growth Capital also provided equity through the Series C, which Lanx said would be used to grow sales and marketing infrastructure and expand its products across minimally invasive and core spinal fusion.

Lanx CEO Dan Gladney said, “We are experiencing rapid growth of our lateral platform and our core fusion business, as surgeons consistently tell us we have the most innovative solutions on the market today.

“This financing allows us to further build on that success by expanding our high quality sales force, providing more resources to R&D and engineering to more rapidly develop and launch new products, and accelerating surgeon training on our lateral platform.”

Earlier this month venture capital-backed medical device business SpineVision raised $10m of fresh capital through a round led by healthcare investment specialist Omega Funds.

Prior investors in the business, which develops and markets products for the surgical treatment of spine disorders, include Partner Capital, Sofinnova Partners, HealthCap and Innoven.

Midi Capital, Alto Invest and existing investors also took part in the latest round for the Paris-based company, which last picked up capital through a $5m raise in 2011.

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