Fort Washington, PA-based Core Essence Orthopaedics has raised $11.5 million in Series B financing. Baird Venture Partners led the round and was joined by existing investor NewSpring Health Capital, Robin Hood Ventures and other individual investors, according to a statement. The funding, which follows a $5 million Series A round, will support the commercialization of the company's soft tissue and skeletal repair devices.
"We are excited about establishing this partnership with Baird Venture Partners and the continued support we received from existing investors," said John Moran, CEO and chairman of Core Essence. "There is increasingly strong demand for innovative solutions that maximize productivity and minimize complexity of existing surgical techniques. This financing will help us continue on the path toward meeting that demand."
Pete Shagory, partner at Baird Venture, praised the company, saying it targets "two of the highest growth segments within the orthopaedic field today--extremities and sports medicine." As part of the transaction, Shagory will join Core Essence's board of directors.
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