• English angielski en
  • polski polski pl

    Highlander Partners

    • O NAS
      • Ameryka Północna — private equity
        • Zespół
      • Highlander Partners Europa Środkowa
        • Zespół
    • Kryteria inwestycji
      • Kryteria inwestycji
      • Strategia inwestycyjna
      • Szansa dla menedżerów
    • ZESPÓŁ
    • Spółki portfelowe
      • Przedsiębiorstwa należące do portfela
      • Opinie zarządów przedsiębiorstw:
    • Aktualności
    • Kontakt

    Archive for month: December, 2006

    You are here: Home » 2006 » December

    Pioneer Surgical Technology Closes $30.5 Million Preferred Equity Private Placement

    December 19, 2006
    December 19, 2006

    Marquette, MI, December 19, 2006 – Pioneer Surgical Technology (“Pioneer” or the “Company”), a leading innovator in the design and manufacture of spinal and orthopaedic implants, announced today that it has closed a $30.5 million Preferred Equity private placement. Pharos Capital Group, LLC led the syndicate of investors and was joined by Highlander Partners, LP, Hopewell Ventures, and River Cities Capital Funds.

    The capital will be used to fund Pioneer’s ongoing Investigation Device Exemption (IDE) study of its NUBAC™ Intradiscal Device; global distribution expansion; and aggressive project development programs including motion preservation devices, biologics, and minimally invasive surgical approaches.

    Founded in 1992, Pioneer began as an orthopaedic medical device company. After establishing its spinal division in 2004 and launching its initial spinal products, the Company has experienced rapid revenue growth and market acceptance of its novel implants including a full development pipeline and the NUBAC™ Intradiscal System. Pioneer recently began implanting NUBAC™, the only intradiscal arthroplasty device utilizing articulating PEEK-on-PEEK material, as part of its IDE study. The device is designed to preserve most of the annular tissue while being less invasive than Total Disc Replacement (TDR) and fusion.

    “The depth and breadth of expertise gained from our venture capital syndicate partners creates tremendous synergies that, along with the new capital, will propel Pioneer to a new frontier in the spinal medical device marketplace,” stated Matthew N. Songer, M.D., President and CEO of Pioneer Surgical Technology.

    Joel Goldberg, a Principal at Pharos Capital Group said, “We are impressed by the Company’s business model for developing innovative products that will dramatically raise the standard of care for the large numbers of people afflicted with spinal disorders. The NUBAC™ device truly exemplifies the management team’s commitment to using advanced technology to improve daily life for these patients.”

    Pioneer was advised by P&M Corporate Finance, LLC, a boutique investment bank providing private placement, merger and acquisition advisory services to life science companies in North America and Europe.

    About Pioneer Surgical Technology
    Pioneer Surgical Technology, headquartered in Marquette, Michigan, is a leading innovator in the design and manufacture of spinal and orthopedic implants. Founded in 1992, Pioneer has positioned itself as a true surgeon-driven spinal device company that promotes responsiveness through customer intimacy, surgeon-to-surgeon relationships, and a commitment to long-term innovation. In 2005 Pioneer launched the following spinal implant systems in addition to receiving the CE mark for the NUBAC™ Intradiscal System: Quantum Spinal Rod, Pioneer Anterior Cervical Plate and its PEEK-Plus Vertebral Replacement Devices.

    The company is expanding its 70,000 square foot facility in Marquette as it continues to grow its spinal and orthopaedic products. Pioneer currently employees over 200 employees worldwide and has been awarded 30 patents. For more information, visit www.pioneersurgical.com.

    About Pharos Capital Group, LLC
    Based in Dallas and Nashville, Pharos Capital Group (www.pharosfunds.com) currently has approximately $500 million in capital under management. Pharos primarily invests $10 to $20 million in companies seeking later stage equity funding for internal growth, acquisitions, management buyouts or recapitalizations across industry sectors, with particular focus on health care, business services, and applied technology.

    About Hopewell Ventures
    Hopewell Ventures (www.HopewellVentures.com) is a $110 million Chicago- and Peoria, IL-based venture capital and private equity firm providing growth and buyout capital to Midwestern businesses in a broad range of industries and stages of development. With more than a century of experience, Hopewell’s team makes initial investments of $1.5 to $5 million.

    About River Cities Capital Funds
    River Cities Capital Funds provides growth equity to companies primarily in healthcare and information technology. With offices in Cincinnati and Raleigh and over $300 million in capital under management, River Cities actively seeks expansion stage companies throughout the Midwest and Southeast United States. For more information, visit www.rccf.com.

    About P&M Corporate Finance
    P&M Corporate Finance, LLC is a boutique investment bank providing merger and acquisition services to middle-market companies in North America and Europe. PMCF provides a broad range of services including sale advisory, acquisition advisory, capital raising and strategic advisory. The organization has dedicated industry teams focused on providing services to the life sciences, business services, building products and industrial industries. PMCF is headquartered in Southfield, Michigan with additional offices in Chicago, Illinois and Cleveland, Ohio. For additional information, visit www.pmcf.com.

    View PDF version of article here.

    in Aktualności /by hpadmin

    Contact Information

    North America

    300 Crescent Court, Suite 550
    Dallas, TX 75201
    tel: (214) 245-5000
    fax: (214) 245-5015
    mblanchat@highlander-partners.com

    Highlander Partners, North America

    300 Crescent Court,
    Suite 550
    Dallas, TX 75201
    tel: (214) 245-5000 fax: (214) 245-5015
    mblanchat@highlander-partners.com
    Map & Directions, North America


    Click for driving directions using Google Maps.

    Highlander Partners, Europe - Poland

    plac Marszałka
    Józefa Piłsudskiego 2
    00-078 Warszawa, Poland
    tel: +48 22 521 04 20
    adzagarow@highlander-partners.com
    Map & Directions, Central Europe map-thumbnail
    Click for driving directions using Google Maps.

    Highlander Partners, Europe - Romania

    Charles de Gaulle Plaza, Charles de Gaulle Square no. 15, 16th floor, sector 1
    Bucharest, Romania 011857
    tel: (031) 228 54 20
    astroilescu@highlander-partners.com
    Map & Directions, Central Europe - Romania Highlander Partners Bucharest Romania Click for driving directions using Google Maps.
    © Copyright - Highlander Partners - Wordpress Premium Theme by Kriesi