US-based surgical equipment provider JustRight Surgical has rebranded as Bolder Surgical following a $27m funding round that included Providence Ventures, the strategic investment vehicle for healthcare provider Providence St Joseph Health.
The round was led by growth equity fund River Cities Capital Funds and included investment firm Westwood Management and unnamed existing backers. Carter McNabb and Lair Kennedy, respective managing partners for River Cities and Westwood, are joining its board of directors.
Founded in 2010, Bolder Surgical produces micro medical instruments including a low-power electrosurgical device and a mechanical stapler that are used by surgeons to perform minimally invasive surgery on infants, children and adolescents.
Capital from the round will be used to develop the company’s product pipeline, expand its team and accelerate its commercialisation efforts. It said it relaunched as Bolder Surgical to reflect its expansion into products extending beyond paediatric care.
Robert Kline, Bolder Surgical’s chief executive, said: “Bolder Surgical revolutionised minimally invasive surgery in children by providing right-sized instruments that improve access and visibility in the tiniest patients.”
Bolder had previously raised $21m in equity financing and $11m in debt according to regulatory filings and press releases, including $4.2m in series B funding raised in 2016 alongside $7m in debt financing.