HealthpointCapital takes majority stake in CrossRoads Extremity Systems (MassDevice)
CrossRoads Extremity Systems said today that HealthpointCapital took out a majority stake for an undisclosed amount.
The New York City-based private equity firm, which specializes in musculoskeletal plays, aims to fuel rapid growth via market expansion and bolt-on acquisitions, Memphis-based CrossRoads said.
The company makes a line of foot and ankle repair devices that use its “Active Stabilization” technology. The EcoSmart gamma-sterilized reusable instruments offering includes post-surgery recovery and processing services, CrossRoads said. The company launched its DynaForce Active Stabilization MPJ foot implant a year ago after winning 510(k) clearance from the FDA.
“HealthpointCapital is an ideal partner for us given their expertise and focus in the musculoskeletal space,” co-founder & CEO Vernon Hartdegen said in prepared remarks. “Our partnership strengthens our mission to be the leading innovator in the extremity foot & ankle space.”
“CrossRoads’ unique product platform, particularly its Active Stabilization technology and EcoSmart service, m...
