October 10, 2021 / by: Business Observer – Staff
NAPLES — Catalyst OrthoScience, a Naples-based medical device company focused on the upper extremity orthopedics market, has raised $12.3 million.
The Series D financing round was led by Cincinnati-based River Cities Capital and Mutual Capital Partners, according to a statement.
“This funding round comes at a pivotal time for the Catalyst OrthoScience team,” Catalyst CEO and Chairman Brian Hutchison says. “We are experiencing a significant period of growth, and this funding allows us to enhance our innovative product portfolio with further technological advancements in the shoulder arthroplasty space and expand our team across all areas.”
“We are happy to support Catalyst’s significant momentum and advancing the efforts in shoulder arthroplasty,” said Carter McNabb, managing director at River Cities and a member of Catalyst’s board of directors.
In addition to River Cities and Mutual Capital Partners, members of the Naples-based Tamiami Angel Fund IV invested $669,791 in the latest Catalyst OrthoScience’s funding raise. Together with prior investments from members of Tamiami Angel Funds II and III, the group has invested a total of $2.38 million in Catalyst OrthoScience, according to a seperate press release. That’s the largest investment of any Tamiami portfolio company.