MENLO PARK, Calif., April 12, 2019 /PRNewswire/ -- Ajax Health II, the latest medical device venture from serial healthcare entrepreneur Duke Rohlen, announced today that it has raised more than $85 million, which will be used to strategically operate and expand innovative medical device companies. HealthQuest Capital led the funding, with participation from Aisling Capital and Polaris Partners.
"Ajax Health approaches medical device innovation in a novel way, applying best-in-class strategies to pinpoint technologies with the greatest opportunity to take off, then rapidly developing them into a fully integrated business," said Garheng Kong, MD, PhD, HealthQuest's founder and managing partner. "Ajax Health's proven executive team, led by Duke Rohlen, Doug Koo and Aftab Kherani, has shown an exceptional ability to develop medical technologies successfully and cost efficiently."
Ajax Health will seek disruptive technologies in the medical device space and value-creating business models with potential for high-exit demand where returns can be realized within 48 months. Core teams leading these companies should have a strategic combination of market, technical and execution experience.
The Ajax Health team will then integrate their experience to complement and support that of the medical device companies. Ajax Health Chairman and CEO Rohlen has served in top executive roles and led successful exits at EPIX Therapeutics, Ajax Vascular, Spirox, CV Ingenuity and FoxHollow Technologies. Rohlen is joined by Dr. Kherani, who serves as Ajax Health's chief medical officer, and Koo, who is the company's chief financial officer.
"I am extremely grateful to our partners HealthQuest, Aisling and Polaris for backing Ajax II," said Rohlen. "These firms have been exceptional partners for a long time and I look forward to working with them again."
About Ajax Health
Ajax Health accelerates medical innovation by identifying opportunities and then taking an operating role in building innovative medical companies that improve lives and bring speed, simplicity and cost efficiency to health care. Ajax is led by industry veteran Duke Rohlen and his trusted ecosystem of industry and operational experts. The team has a proven track record of helping companies of all sizes, stages and structures achieve their value-creation goals.
SOURCE Ajax Health II