Providence Medical Technology raises $10.5M

What does Providence Medical Technology do?

Providence Medical Technology, is an innovator in tissue sparing, cervical fusion technology. It is a private medical device company which is developing innovative solutions which is addressing the one-billion-dollar global cervical spine market. The company is commercializing the DTRAX platform of differentiated cervical instruments and implants for treating cervical degenerative disc diseases via indirect compression and fusion. Its products include CAVUX Cervical Cages, DTRAX Spinal Systems, BIOLOGIX Allograft Bone and ALLY Screw Systems. Its cervical fusion products come in sterile packing for single use and fill the critical gaps in the continuum of cervical spine care.

How much was Providence Medical Technology funded?

The company raised $10.5M in Series E on December 19, 2016 from Aphelion Capital,  MVM Life Science Partners and Stanmore Medical Investments.

Previous funding

$6.8M in Series C on March 31, 2014 from Research Corporation Technologies,  Stanmore Medical Investments and Aphelion Capital.

$12M in Series D on August 26, 2015 from Stanmore Medical Investments, Silicon Valley Bank and Aphelion Capital.

What is next for Providence Medical Technology?

Providence Medical Technology plans on using the latest funding raised for further commercializing and expanding its portfolio of cervical fusion technology. The latest round’s new investors MVM led the financing and will join this company’s board of directors. The company is excited about its continued growth and wide operation of its innovative technology. They are also pleased that their products are resulting in positive outcomes and are resonating with hospital administrations and spine surgeons similarly.

More about Providence Medical Technology

Providence Medical Technology, was founded in 2008 by Bruce McCormack and  Jeff Smith. It has its headquarters in Lafayette, California. The company is focusing mainly on commercializing the DTRAX platform and CAVUX implants for cervical fusion and other cervical spine procedures for helping both patients and surgeons.