Medical-device maker raises $15 million
The Broomfield-based company plans to launch three or four spine device products in the next year that address degenerative disk disease, said Steve Deitsch, chief financial officer. Lanx also will focus on marketing its one-year-old Timberline trademarked spinal lateral fusion device, which is used in back surgeries.
"We're doing very well with sales, and this (financing) will help us with innovative technology to market and grow our business," Deitsch said.
Credit Suisse Asset Management led the latest financing round through its Customized Fund Investment Group. Previous equity investors in Lanx also participated in the round, including Chicago Growth Partners, Goldman Sachs Private Equity Opportunities Fund, Noro-Moseley Partners and Oakwood Medical Investors. New investor Hercules Technology Growth Capital also participated.
Lanx manufactures prototypes of its devices, and has about 200 employees. The company has a testing lab accredited by the U.S. Food and Drug Administration at its 80,000-square-foot facility at 310 Interlocken Parkway, Suite 120.
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