NEW YORK–(BUSINESS WIRE)–Deerfield Management Company, L.P. announced today that it invested in Conventus Orthopaedics, Inc. to fuel growth and innovation.
“This infusion significantly strengthens our ability to commercialize our existing products and develop new technologies to advance the treatment of complex fractures. We are delighted to have this distinguished investment group support Conventus and to leverage its healthcare expertise as we launch Conventus DRS™.”
Deerfield Management led the $24 million Series AA equity financing of Conventus. The funding will be used to support the commercialization of Conventus DRS™ (an FDA-cleared treatment for distal radius fractures which has been shown to reduce surgical trauma by as much as 80 percent compared to traditional treatment options), the clinical development of the Proximal Humerus PH fracture solution for the shoulder, and accelerate R&D for new indications.
”The Conventus internal fixation platform allows surgeons, in a less invasive way, to provide stability from within the bone and allow the fixation of multiple fragments in any plane. Early experience suggests that this novel platform reduces time to recovery and improves patient outcomes. We look forward to working with the Conventus team in making these products available to surgeons and patients,” said Steven Hochberg of Deerfield Management Company.
Paul Buckman, Conventus’ Chief Executive Officer, said, “This infusion significantly strengthens our ability to commercialize our existing products and develop new technologies to advance the treatment of complex fractures. We are delighted to have this distinguished investment group support Conventus and to leverage its healthcare expertise as we launch Conventus DRS™.”
Conventus Orthopaedics, Inc. was founded by a team of medical device professionals and physicians with the sole purpose of improving patient care by creating a platform technology with less invasive solutions to a broad range of challenging periarticular fractures. Taking its name from the Latin word for coming together or union, Conventus Orthopaedics is focused on creating less invasive solutions to fractures in and around the joints. The company is dedicated to working with surgeons to improve healing and enable their patients’ return to normal activities.
About Deerfield
Deerfield® is an investment management firm committed to advancing healthcare™ through investment, information and philanthropy.
For more information, please visit www.deerfield.com
Contacts
Deerfield Management Company
Karen Heidelberger, 212-692-7140
karenh@deerfield.com
