JustRight Surgical® lands $4.2 million in additional funding, $7 million in debt financing to close Series B round
LOUISVILLE, Colo., Feb. 3, 2016 /PRNewswire/ -- JustRight Surgical, LLC, the mini-laparoscopic medical device company, has closed on $4.2 million in Series B funding. The company also completed $7 million in debt financing commensurate with the Series B financing.
The capital will be used to continue to advance sales, marketing, and other commercialization efforts for the company's core 3mm JustRight Sealer™ and its JustRight 5mm Stapler™ in both U.S. and European markets. The company's devices are five to nine times smaller than previously available.
"The team at JustRight Surgical is inspired by the confidence our investors continue to show in our mission to bring right-sized instruments and technology to hospitals and surgeons around the world," said Russ Lindemann, president and CEO of JustRight Surgical. "The instruments and technology that we have developed are allowing surgeons to operate in very small spaces with the precision and safety that can change the treatment path for patients."
Demand from surgeons for JustRight Surgical's instruments has been robust and they are currently in use for general and thoracic procedures in 20 of the top children's hospitals in the U.S., including six of the top 10. They are the only company in the world to have figured out how to design and develop a 5mm stapler using the classic titanium wire staple in a clinically accepted "B" shape. They are also the only company that offers a true 5mm device as it does not require a special port for its use.
Founded in 2010, JustRight Surgical devices were developed under the guidance of domestic and international surgeons and a team of medical device professionals with extensive patent portfolios and a record of developing breakthrough technologies that have transformed surgical procedures. JustRight Surgical exists to serve healthcare providers by developing precisely designed surgical instruments where access is limited and visibility is reduced, facilitating less invasive surgical techniques and ultimately reducing scarring, pain and hospital stay. All of their products are designed and manufactured in the U.S. www.justrightsurgical.com.
SOURCE JustRight Surgical