CurvaFix raises $39M, announces new CEO (MassDevice)
CurvaFix announced today that it closed a $39 million equity financing and named Mark Foster as its new CEO.
Foster succeeds founder and current CEO Steve Dimmer to take over the corner office. The Bellevue, Washington-based company develops medical devices for repairing fractures in curved bones. Dimmer intends to transition into a strategic advisory role following leadership turnover.
MVM Partners led the equity financing, with Sectoral Asset Management and other existing investors also participating.
The company plans to use the proceeds to expand the treatment of fragility fractures of the pelvis (FFP) in the U.S. It seeks to launch its CurvaFix IM implant nationwide, according to a news release.
“CurvaFix’s ability to benefit patients, physicians, and health systems, while simultaneously addressing the undertreated FFP segment makes CurvaFix a rare asset in the crowded world of orthopedics,” said Eric Fritz, MVM partner. “We are thrilled to be involved and look forward to supporting the company’s next phase of growth.”
More on the CEO transition at CurvaFix
Foster joins the company having previously served as president and CEO of Trice Medical, a minimally invasive orthopedic technology developer.
Before Trice, Foster held the position of VP of U.S. sports medicine for Smith+Nephew. He also had leadership roles at Boston Scientific.
“I have had the opportunity to observe the successful implementation and adoption of CurvaFix IM Implants in the orthopedic pelvic fracture fixation market, for which Steve has played a pivotal role in taking the company to this point,” Foster said. “I am looking forward to leading the CurvaFix team in scaling CurvaFix’s technology to benefit many more patients, physicians, and payers.”