Triple Ring Technologies and 1315 Capital Announce Strategic Growth Partnership

Medical Device and Life Sciences Co-Development Company Raise Funds to Accelerate Growth and Expand Reach.

NEWARK, Calif., Feb. 1, 2024 /PRNewswire/ -- Triple Ring Technologies ("Triple Ring"), The Co-Development Company for Medical Device and Life Sciences, proudly announces a significant growth capital investment from 1315 Capital, a Philadelphia-based, healthcare-focused growth equity firm. The company was advised by Rob King and Crewe Capital, out of their New York office.

Triple Ring stands side-by-side with innovators and entrepreneurs to solve hard problems, launch breakthrough products, and create new businesses. Working together with 1315 Capital, Triple Ring plans to accelerate its growth through both geographic expansion and extension of its R&D and product development services.

"Triple Ring Technologies has built a strong reputation in medical device and life sciences innovation, working with the world's top companies as well as with the brightest startups. The infusion of this growth capital will propel the company into a new phase of expansion, enabling us to capitalize on emerging opportunities and solidify our position as a market leader," said Joseph Heanue, Chief Executive Officer of Triple Ring Technologies.

Michael Koby, Founding Partner of 1315 Capital, stated, "We identified a significant opportunity to grow and scale a world-class services business that provides all necessary functions to develop and launch breakthrough healthcare products. We are thrilled to partner with Triple Ring to drive this vision."      

Craig Matturro, Principal at 1315 Capital, added, "Triple Ring is the foundation of an engineering and outsourced R&D services platform around which we will  build an international leader in complex technology development for medical devices, life sciences, robotics, imaging, radiotherapy, and other technology-driven end markets."       

"We have worked with Triple Ring for over a decade and are pleased to have helped facilitate investment from 1315 Capital, which has provided the company the resources to be an industry standard.  As a later-stage growth investor, 1315's investment sends a strong signal regarding the potential for growth in the overall healthcare R&D and engineering services sector," stated Rob King, Partner, at Crewe Capital.

"Crewe and Rob's steady hand, thoughtful advice, and keen industry insight have added tremendous value to Triple Ring over the years as we have pursued our strategic objectives," said Joseph Heanue.

About Triple Ring Technologies
Triple Ring Technologies, founded 2005, is a leader in the engineering services market.  The company is headquartered in Silicon Valley, with offices in Boston, Toronto, and Copenhagen. They partner with clients in medical device and life sciences to create new technologies, launch innovative products, and start new ventures. Their capabilities span early R&D, product development, manufacturing, regulatory approval, market access, strategic partnership, and incubation. For more information, please visit www.tripleringtech.com.

About 1315 Capital
1315 Capital is a private investment firm with over $1 billion of assets under management that provides growth capital to commercial-stage healthcare services, pharmaceutical & medical technology outsourcing, medical technology, and health & wellness companies. 1315 Capital targets both minority and majority investments in companies where high-quality management teams can rapidly scale platform companies into large and important businesses that positively impact patients, physicians, and the broader healthcare system. For more information, please visit www.1315capital.com.

About Crewe Capital
Crewe Capital is a boutique, independent investment banking, securities, and mergers and acquisitions firm that provides a wide range of financial services to corporations, financial institutions, and family offices. The firm's professionals distinguish themselves through deep industry knowledge and senior banker involvement. Crewe Capital seeks to be its clients' leading trusted advisor, helping them navigate their most important transactions and providing customized solutions to challenging strategic and financial situations. For more information, please visit www.crewe.com.

Investment banking and M&A activities are offered through Crewe Capital, LLC, a registered broker-dealer with the U.S. Securities and Exchange Commission (www.sec.gov), a member of the Securities Investor Protection Corporation (www.sipc.org), and a member of the Financial Industry Regulatory Authority (www.finra.org).

SOURCE Triple Ring Technologies