Oxford, Square 1 Provide Debt Facility to Conventus Orthopaedics
Oxford Finance and Square 1 Bank announced that they have provided a $10 million term loan to Conventus Orthopaedics, a leader in innovative solutions for challenging peri-articular fractures. Proceeds will be used to support additional regulatory approvals and developments.
Maple Grove, MN-based Conventus was established in 2008 by seasoned physicians and medical device experts who identified a large gap in joint fracture solutions between the invasive, plating option and pinning alternative. Using advanced nitinol technology, Conventus expanded the peri-articular fracture surgical spectrum to provide patients with a range of treatment options and customized approaches. This platform utilizes 90% less hardware than traditional treatments and results in significantly less recovery time through the use of less invasive techniques.
“Oxford is pleased to provide capital to Conventus as it seeks approval in a second indication for its novel fracture fixture technology,” said Chris Herr, managing director for Oxford Finance. “Conventus is led by a highly regarded management team with extensive medical device experience, and we are confident the company will continue to expand its platform, enabling better outcomes and faster recovery for patients.”
Ryan Dammeyer, managing director of Square 1’s Technology and Life Sciences practices in the Midwest added, “Square 1 is proud to partner with a company carrying out important work to advance orthopedics for patients who experience joint fractures. We look forward to supporting Conventus’ future growth and commitment to patient care through less invasive solutions.”