H.I.G. BioHealth Partners Invests in VertiFlex, Inc.
MIAMI – March 15, 2017 – H.I.G. BioHealth Partners (“H.I.G.”), the dedicated healthcare investment affiliate of H.I.G. Capital, a leading global private equity investment firm with $21 billion of equity capital under management,* led a $40M investment in VertiFlex, Inc. (“VertiFlex” or the “Company”), a leading innovator of advanced, minimally invasive interventions for spinal stenosis.
H.I.G. 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 U.S. 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 United States.
Michael Wasserman, Ph.D., an H.I.G. Managing Director, said, “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.”
About Vertiflex, Inc.
VertiFlex is a privately held medical device company dedicated to the advancement of minimally invasive solutions for the treatment of lumbar spinal stenosis, which is the leading cause of spinal surgery in the elderly. Founded in 2005 and headquartered in Carlsbad, CA, VertiFlex has developed proprietary, minimally invasive technologies for performing both indirect and direct decompressions of the lumbar spine. These procedures fill the gap in the stenosis treatment continuum between conservative care and traditional spine surgery. To date, VertiFlex has compiled the largest, most rigorous body of device clinical evidence related to lumbar spinal stenosis. For more information, visit www.vertiflexspine.com.
About H.I.G. BioHealth Partners
H.I.G. BioHealth Partners is the dedicated life-science investment affiliate of H.I.G. Capital. H.I.G. BioHealth Partners invests in a broad range of healthcare opportunities across sectors and stages, principally in companies developing therapeutic drugs, medical devices, and diagnostics for significant unmet medical needs. With approximately $400 million in committed capital, H.I.G. BioHealth Partners invests $5 million to $40 million per company over the life of an investment. For more information, please refer to the H.I.G. BioHealth Partners website at www.higbio.com.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.