# Trice Medical

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

- Industry: Healthcare
- Headquarters: Malvern, US
- Website: www.tricemedical.com
- Total disclosed funding: $62M
- Latest round: Series C (Dec 19, 2018)
- Investors on record: 7

## About

Trice Medical Inc. is focused on developing innovative medical solutions that enhance patient care through minimally invasive procedures, particularly in the fields of orthopedics and sports medicine.Founded in 2012 and headquartered in Malvern, US, Trice Medical Inc. specializes in medical technologies aimed at improving patient outcomes. The company has undergone a strategic pivot to enhance its product offerings and expand its market reach. Stuart Seymour, who has a history of entrepreneurship, co-founded the company. As of August 2021, Trice Medical raised USD 27.55 mn in a Series D funding round led by Bioventus LLC, bringing the total amount raised to USD 27.55 mn, with a current valuation of USD 110.42 mn.Trice Medical specializes in innovative medical solutions aimed at improving patient outcomes through minimally invasive procedures. The core product offerings include the Tenex Health TX system for soft and hard tissue treatments, Seg-WAY ligament release systems, and various endoscopic procedures like the Endoscopic Carpal Tunnel Release and Endoscopic Gastrocnemius Recession systems. These products address conditions such as tendinopathy, calcific tendonitis, and diabetic foot ulcers, serving hospitals, ambulatory surgical centers, and outpatient clinics across the United States, Europe, and select markets in Asia.Trice Medical operates within a B2B framework, supplying its medical devices directly to healthcare providers. Revenue is generated through direct sales of flagship products including the Tenex Health TX and Seg-WAY systems, structured around procurement contracts or purchase agreements with hospitals and ASCs. The company emphasizes building long-term relationships with clients through support and education, ensuring effective integration of its innovative technologies into clinical practices.Moving forward, Trice Medical Inc. plans to accelerate the adoption of its products with the recent funding acquired in August 2021. This funding will support the launch of new product lines and enhance existing offerings. Trice Medical aims to expand into new geographic regions, targeting markets in Europe and Asia by 2023 to increase its footprint. The strategic use of the recent funding will facilitate these initiatives, bolstering the company's market presence.

## Funding rounds

- Series C, Dec 19, 2018, $21M — Safeguard Scientifics, Municipal Employees' Retirement System of Michigan, BioStar Capital, Plus Orthopedics Holding AG, HealthQuest Capital, Charter Capital Partners
- Series C, May 25, 2017, $19M — Safeguard Scientifics, BioStar Capital, Plus Orthopedics Holding AG, HealthQuest Capital
- Series B, Jan 28, 2015, $12M — Safeguard Scientifics, BioStar Capital, HealthQuest Capital
- Series B, Jul 17, 2014, $5.6M — Safeguard Scientifics, BioStar Capital
- Series A, May 9, 2013, $3M — BioStar Capital, Millennium Life Sciences Fund

## Investors

- BioStar Capital (https://capitalatlas.ai/funds/biostar-capital) — Series A, Series B, Series C
- Millennium Life Sciences Fund — Series A
- Safeguard Scientifics (https://capitalatlas.ai/funds/safeguard-scientifics) — Series B, Series C
- HealthQuest Capital (https://capitalatlas.ai/funds/healthquest-capital) — Series B, Series C
- Plus Orthopedics Holding AG — Series C
- Municipal Employees' Retirement System of Michigan — Series C
- Charter Capital Partners (https://capitalatlas.ai/funds/charter-capital-partners) — Series C