PainTEQ Secures Majority Growth Recapitalization Co-Led by Signet Healthcare Partners & Windham Capital Partners

Strategic equity investment to accelerate growth and innovation in interventional spine care.

TAMPA, Fla., Aug. 27, 2025 /PRNewswire/ -- PainTEQ, a leader in minimally invasive solutions for sacroiliac (SI) joint dysfunction, today announced a majority growth recapitalization co-led by Signet Healthcare Partners and Windham Capital Partners, two U.S.-based healthcare investment firms with nearly 50 years of combined investment experience in medical technology companies. This recapitalization also includes a new equity investment by MVolution Partners.

With new ownership, this strategic investment will accelerate PainTEQ's expansion by funding prospective clinical studies, advancing development of next-generation products, and expanding the company's U.S. commercial presence.

PainTEQ's flagship product, LinQ^®, is a proprietary, allograft-based, drill-less SI joint implant delivered via a minimally invasive posterior approach. To date, LinQ^® has been used in over 14,000 procedures and is supported by multiple peer-reviewed clinical studies, including the SECURE study, a prospective clinical trial demonstrating improvements in pain and function alongside a strong safety profile.

Under the leadership of CEO Shanth Thiyagalingam, PainTEQ has demonstrated strong operational discipline and commercial leadership. Thiyagalingam brings more than two decades of interventional experience, including senior commercial leadership roles at Abbott, Nevro, and Stryker.

"Partnering with experienced institutional healthcare investors at Signet and Windham marks an exciting chapter for PainTEQ," said Thiyagalingam. "With a strengthened balance sheet and new committed ownership group, we are well positioned to deliver innovative solutions for patients suffering from SI joint dysfunction and to continue building a category-leading interventional platform. We are grateful to the founding team and prior owners for laying the groundwork that enables this next phase of company growth."

Dr. Dawood Sayed, Professor and Division Chief of Pain Medicine at the University of Kansas Medical Center and Vice Chair and Co-Founder of the American Society of Pain and Neuroscience (ASPN), commented: "This investment validates SI joint fusion as a critical treatment pathway. It will accelerate innovation and advance research, expanding treatment options in interventional spine care and making this procedure a long-term standard of care."

David Kereiakes, Managing Partner at Windham Capital Partners, commented: "We were compelled to invest in a future that delivers safer, more effective solutions for physicians and patients. PainTEQ's innovative, minimally invasive technology and strong leadership are exactly what the interventional spine care market needs."

Ashley Friedman, Managing Director at Signet Healthcare Partners, also added: "We are delighted to partner with Shanth and the PainTEQ team to leverage the company's leadership position in SI joint treatment. With additional investment in clinical studies and pipeline products, we believe PainTEQ is well positioned to become a leading multi-product interventional spine platform."

Raymond James served as financial advisor to PainTEQ. Legal counsel included Hill Ward Henderson; Bass, Berry & Sims; Sheppard, Mullin, Richter & Hampton; and Knobbe Martens. Transaction terms were not disclosed.

About PainTEQ
Founded in 2013 and based in Tampa, Florida, PainTEQ develops interventional pain management solutions focused on back pain and sacroiliac (SI) joint dysfunction. Its proprietary SI joint implant system has been used in more than 14,000 procedures to date, providing patients with minimally invasive options to help relieve chronic pain.

About Signet Healthcare Partners
Signet Healthcare Partners is a healthcare growth equity firm that invests in commercial-stage pharmaceutical (pharma services and therapeutics) and medical technology companies. Founded in 1998 and based in New York, Signet has invested in more than 60 companies, supporting entrepreneurs with capital, strategic guidance, and deep industry networks.

About Windham Capital Partners
Windham Capital Partners, founded in 2006, is a growth equity investment firm working at the intersection of medical technology and digital health. The firm invests in transformative companies and teams improving clinical outcomes, expanding access to quality care and creating greater efficiencies in healthcare. With deep expertise and a far-reaching network across medical devices, digital health, and life sciences, Windham partners with visionary founders and entrepreneurs to develop and elevate the standard of healthcare. 

SOURCE PainTEQ