LEAWOOD, Kan., May 3, 2016 /PRNewswire/ -- Spinal Simplicity, a medical device company based in Overland Park, Kan., that develops innovative solutions to treat complex surgical problems, recently announced the closing of a financing round with an investment from private equity and advisory firm Nueterra Capital. After successfully introducing the Minuteman fusion device for lower back pain in Europe and recently securing FDA 510(K) clearance for the same device in the U.S., Spinal Simplicity sought an investment partner to advance their domestic launch and saw the perfect alignment opportunity with Nueterra Capital.
"Nueterra Capital presents an incredible opportunity for us to educate and train more physicians regarding use of the Minuteman device, with an ultimate goal to improve performance in more operating rooms and ensure positive outcomes for more patients," said Todd Moseley, managing partner and co-founder, Spinal Simplicity. "And as a result of Nueterra Capital's investment, we gain access to NueHealth and hope to move the Minuteman device into their network of facilities, making minimally invasive surgery a more accessible option for patients."
Spinal Simplicity first introduced the Minuteman fusion device, designed to fix sections of the thoracic, lumbar or sacral spine in place to allow eventual fusion between the bone, to the European market four and a half years ago; in this time, it has been incredibly well received by physicians and patients alike. The device allows a previously complex and time-consuming procedure to be performed in less than 15 minutes; it's far less traumatic to the patient and may require only one day of recovery.
The Minuteman device is available in five different sizes and is unique among spinal implants because it is pre-packaged sterile and will be offered with hydroxyapatite coating to facilitate the fusion process. Physicians who have worked with the device describe the placement process as incredibly simple and are consistently impressed by the minimal post-operative pain experienced by their patients.
"This is precisely the type of company that we aim to invest in and promote, because these are the types of individuals and devices that are transforming healthcare," said Jeremy Tasset, CEO, Nueterra Capital. "Innovations like this are making it easier for physicians to perform complicated spinal procedures and giving patients a much-improved quality of life, all at a significantly lower cost than before."
Procedures using the Minuteman device are currently being performed in the United States and Europe. The rigorous onboarding process for new spinal surgeons wishing to utilize the device includes onsite training with a Spinal Simplicity representative in both a cadaveric wet lab and a dry lab. This kind of training requirement demands a greater investment of time up front but ensures optimal outcomes and sets providers up for success, something Spinal Simplicity leaders believe in strongly.
"We knew a shotgun approach would never work with this," said Jonathan Hess, vice president, business development. "We've worked very hard to spend a great deal of time conversing with and training the doctors who are new to this device, knowing that was the only way to foster supreme confidence in the product and maintain superior clinical outcomes."
Spinal Simplicity is continuing to seek orthopedic and neurologic spine surgeons qualified to utilize the device, with particular interest in those regarded as progressive thought leaders within minimally invasive and outpatient procedures. To learn more about Spinal Simplicity and their work within minimally invasive spine surgery, visit www.SpinalSimplicity.com.
About Spinal Simplicity
Spinal Simplicity, LLC, headquartered in Overland Park, KS, is dedicated to the creation of innovative simple solutions for the treatment of complex spinal disorders. In 2008, the company was founded by Dr. Harold Hess, a practicing neurosurgeon and Todd Moseley, a seasoned entrepreneur with over 20 years of orthopedic and distribution experience. Spinal Simplicity's vision is to be the global leader in innovative, simplified surgical solutions, delivering uncompromising quality. For more information, please visit www.spinalsimplicity.com.
About Nueterra Capital
Nueterra Capital is a private equity investment and advisory firm with an exclusive focus on healthcare. Leveraging a deep understanding of key industry drivers, Nueterra Capital invests in entrepreneurs with innovative minds, while providing professional expertise and back office resources to improve their bottom line performance and drive growth. Nueterra Capital has invested in hundreds of new ventures and continuously delivers the resources and strategic direction that allow our partners to advance and improve every aspect of healthcare.
NueHealth is building a nationwide system of clinically integrated provider networks that puts healthcare into the hands of consumers. With a quality network of purpose-driven surgical centers and hospitals, NueHealth connects providers directly to consumers and aids them in delivering value-based payment options and improved outcomes. To deliver this improved value, NueHealth leverages proprietary technologies, online platforms, bundled payments and targeted programs and services. NueHealth gives providers and payors the tools and resources to stay ahead of healthcare's continued evolution, while giving employers, insurance companies and patients access to a simplified model and affordable, high-quality, streamlined care.
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SOURCE Spinal Simplicity