Sonoma Orthopedic Products® Closes $22 Million Series D Financing
Funds Will Support Sales Force Expansion, New Products, and Clinical Trials
SANTA ROSA, Calif., Feb. 14, 2011 /PRNewswire/ -- Sonoma Orthopedic Products announced that it has closed a $22 million Series D financing round led by Ascension Health Ventures (AHV). Also participating in the round were Split Rock Partners, Legacy Life Sciences, EDF Ventures, MedVenture Associates, DFJ InCube Ventures, Emergent Medical Partners, and Asset Management Partners. In connection with the financing, Dr. Walter Lin of AHV has joined Sonoma's board of directors.
Sonoma is a commercial orthopedic trauma company focused on minimally invasive repair of fractured bone through its proprietary implant technology. The financing will support several new product launches, expansion of the U.S. sales network, key clinical trials, and the acquisition of certain key assets of NovaLign Orthopaedics, Inc. "We are pleased by the level of support provided by Sonoma's distinguished new and existing investors, who share our vision for advancing the field of minimally invasive fracture repair," said Glen Coleman, President and CEO of Sonoma Orthopedic Products.
AHV's Dr. Walter Lin added, "Sonoma's unique flexible-to-rigid WaviBody and TaperBody platform technologies address a clear clinical need in orthopedic trauma care. We are excited to partner with Sonoma's experienced management team and board to make its implants more widely available for the benefit of patients."
About Sonoma Orthopedic Products, Inc.
Sonoma Orthopedic Products is a private orthopedic device company specializing in the development and marketing of least invasive, fracture specific implant systems for addressing problematic fractures. Located in Santa Rosa, Calif., the company is bringing significant new treatment options to the orthopedic trauma market.
About Ascension Health Ventures
Ascension Health Ventures (AHV) was launched in 2001 as a wholly-owned subsidiary of Ascension Health. AHV's role has been to construct and manage a strategic portfolio of investments that deliver a venture investment return, have the potential to transform the healthcare industry, and significantly enhance the quality of patient care. CHV II, LP, a limited partnership between Ascension Health, Catholic Health Initiatives, Catholic Health East, and Catholic Healthcare West, has been formed to expand this strategic investment initiative to other Catholic healthcare systems. AHV is the general partner of CHV II, LP.
SOURCE Sonoma Orthopedic Products, Inc.
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