# Providence Medical Technology

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/providence-medical-technology

- Industry: Medical Devices & Equipment
- Headquarters: Pleasanton, US
- Website: www.providencemt.com
- Total disclosed funding: $42M
- Latest round: Series G (Aug 27, 2018)
- Investors on record: 7

## About

Providence Medical Technology, Inc. is focused on designing and manufacturing innovative spinal medical devices to enhance surgical outcomes in spinal fusion procedures, particularly for high-risk patients.Founded in 2008 and headquartered in Pleasanton, US, Providence Medical Technology, Inc. is engaged in the development of advanced spinal devices. The company has successfully completed 11 deals, with its most recent funding round being a Series G in August 2018, where it raised USD 21.00 mn led by Revelation Capital Management. The company was co-founded by Bruce McCormack and Jeff Smith, who is also the current CEO.Providence Medical Technology, Inc. specializes in developing innovative spinal devices, focusing on posterior cervical and lumbar fusion procedures. Their flagship product, the CORUS™ PCSS, is FDA cleared for multi-level circumferential cervical fusion, addressing challenges faced by high-risk patients such as those with diabetes and osteoporosis. The company primarily markets its products to hospitals and surgical centers in the United States, facilitating cervical spine surgeries.The revenue structure of Providence Medical Technology, Inc. comes from direct sales of their medical devices to healthcare facilities, including bulk purchasing agreements. These transactions involve hospitals acquiring the CORUS™ PCSS and related devices for surgical procedures, with pricing influenced by procedure complexity and volume. This model supports the company's focus on improving clinical outcomes for high-risk patients in the spinal care market.Providence Medical Technology, Inc. plans to utilize the USD 21.00 mn raised in its Series G funding round to support the development of new products and enhance its market presence. The company is focused on expanding its offerings in spinal devices and may explore opportunities in international markets to reach new healthcare providers. The recent funding will aid in refining product designs and facilitate entry into additional geographic regions.

## Funding rounds

- Series G, Aug 27, 2018, $21M — MVM Partners, Columbia Threadneedle Investments, Aphelion Capital, Revelation Partners, Medvest
- Series F, Dec 14, 2016, $7M — MVM Partners, Aphelion Capital, Medvest Capital
- Series E, Oct 17, 2016, $0.8M — Aphelion Capital
- Series E, Apr 22, 2016, $2.9M — Aphelion Capital
- Series D, May 28, 2015, $3.5M — Aphelion Capital, Medvest Capital
- Series C, Mar 31, 2014, $6.8M — Research Corporation Technologies, Aphelion Capital, Medvest Capital

## Investors

- Research Corporation Technologies (https://capitalatlas.ai/funds/research-corporation-technologies) — Series C
- Aphelion Capital (https://capitalatlas.ai/funds/aphelion-capital) — Series C, Series D, Series E, Series F, Series G
- Medvest Capital (https://capitalatlas.ai/funds/medvest-capital) — Series C, Series D, Series F
- MVM Partners (https://capitalatlas.ai/funds/mvm-partners) — Series F, Series G
- Columbia Threadneedle Investments — Series G
- Revelation Partners (https://capitalatlas.ai/funds/revelation-partners) — Series G
- Medvest — Series G