HIG BioHealth Partners, the healthcare investment affiliate of private equity firm HIG Capital, has led a USD40 million investment in VertiFlex, a producer of minimally invasive interventions for spinal stenosis.
HIG and Endeavour Vision co-led the financing alongside New Enterprise Associates, Thomas, McNerney & Partners, and Alta Partners.
Proceeds from the financing will primarily be used to fund US commercial expansion of the company’s Superion Indirect Decompression System, a minimally invasive spinal implant designed to treat moderate lumbar spinal stenosis, a painful and often debilitating condition that affects an estimated 500,000 new patients every year in the US.
Michael Wasserman, HIG managing director, says: “We are excited to partner with the VertiFlex management team. The company has developed an outstanding product that has significant benefits to patients, physicians, and the overall healthcare system. We look forward to contributing to the commercial expansion of Superion, a medical device that addresses a significant unmet medical need.”
