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Pivot Medical raises $32m in Series C round

8 Nov 2011

Pivot Medical, an emerging company focused on minimally invasive hip restoration, has announced it has raised $32m in Series C financing, led by new investor Adams Street Partners.

The funding round also included participation from new investor Delphi Ventures, founding investor Montreux Equity Partners, and existing investor Ivy Capital Partners.

Pivot Medical said it will use the capital to support the commercial rollout of its proprietary arthroscopy System in the US and Europe and to expand its clinical research programs.

As part of the Series C, Dr Michael Lynn of Adams Street Partners and John Maroney of Delphi Ventures will join Pivot Medical’s board of directors, which also includes Guy Mayer, chief executive officer of Ascension Orthopedics; Dr John Savarese of Montreux Equity Partners; and Julian Nikolchev, Pivot Medical co-founder.

Earlier this year, Adams Street participated in a $21m investment round for technology developer RadiumOne.

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