Catalyst OrthoScience Surpasses 10,000 Total Shoulder Arthroplasty (TSA) Procedures and Announces $20 Million Financing

NAPLES, Fla.--(BUSINESS WIRE)--Sep 10, 2024--

Catalyst OrthoScience Inc. (“Catalyst”), a private medical technology leader focused on shoulder arthroplasty, the fastest growing segment in the orthopedics market, announces it has surpassed 10,000 total shoulder arthroplasty (TSA) procedures as it closes $20 million in equity and venture debt financing with funding partners RC Capital, Mutual Capital Partners and Bridge Bank.

Ten thousand completed Catalyst TSA procedures reaffirms the choice made by surgeons and their patients at the forefront of shoulder arthroplasty. This milestone and financial investment position Catalyst for accelerated growth and continued innovation in the shoulder arthroplasty market. The company is set up for the next stage of commercial adoption, empowering it to expand its distribution channel, further invest in talent and training, launch new products, and solidify its position as a leading innovator.

“Catalyst has made significant progress since its first case in 2016,” said Carl O’Connell, CEO of Catalyst. “Our unique ability to blend true innovation with unmatched efficiency and predictable outcomes is transforming an industry that has long been burdened by solutions that introduce inefficiencies and inflate procedural costs without also delivering improved patient outcomes. At Catalyst, we’re closing those gaps with our single-tray systems, proprietary instrumentation, fewer surgical steps, and purposefully designed implants. This is increasingly important as procedures shift to ambulatory surgery centers (ASC) where there is a growing desirability for solutions that reduce case turnaround times and sterilization costs, limit storage space needs, and ease the workload on the surgical team.”

Carter McNabb, Managing Partner at RC Capital, and Catalyst board member, commented, “Catalyst is a unique company in a fast-growing sector. This funding will allow the company to further its mission to improve shoulder arthroplasty for surgeons and patients across the continuum of care.”

Bill Wickline, Managing Director in the Life Sciences Group at Bridge Bank, added, “Bridge Bank is pleased to support Catalyst as it surpasses this important milestone and positions itself for future growth and continued advancement in patient care.”

For more information on how Catalyst is advancing healthcare through technology, visit our new website www.catalystortho.com.

About Catalyst OrthoScience Inc.

Naples, Florida-based Catalyst OrthoScience was founded in 2014 by orthopedic surgeon Steven Goldberg, MD, who saw the need to make shoulder replacements less invasive, with fewer complications and a more natural-feeling shoulder after surgery. Catalyst is disrupting the traditional approach to shoulder replacement surgery. Our total shoulder systems offer precision and accuracy in shoulder restoration while preserving the patient’s bone and soft tissue. Catalyst has a growing portfolio of patents and pending patents on its distinctive offerings, which are available across the U.S. For more information, visit www.catalystortho.com.

About RC Capital

RCC is a growth equity firm building high-potential healthcare companies by leveraging the unique interplay of our segments of focus: medical device, healthcare services and healthcare IT. We are dedicated to investing on the right side of healthcare, growing companies that enable clinicians to improve the delivery of care and the experiences and outcomes for patients. We seek to be a business partner first and a capital provider second, investing significant human capital to leverage our domain expertise, a network of healthcare thought leaders and deep relationships with health systems assembled over our 30-year history. For more information, visit www.rccf.com.

About Mutual Capital Partners

Mutual Capital Partner’s is Cleveland’s premier venture capital fund investing in healthcare IT & medical device companies. We invest in rapidly growing, revenue generating, and highly differentiated technology companies. Management is a key focus for us and we work with the 100+ investors in our funds to assist us in due diligence, make customer introductions for our portfolio companies, and provide ongoing advice and counsel to our portfolio executive. For more information regarding Mutual Capital Partners, please visit www.mutualcapitalpartners.com.

About Bridge Bank

Bridge Bank’s Life Sciences Group, a national banking group within Western Alliance Bank, Member FDIC, delivers tailored financial lending solutions across all life sciences verticals to innovators nationwide as they bring their products from lab to market, backed by outstanding service. Experienced, knowledgeable relationship managers understand the unique challenges and opportunities life science companies face in all stages of their growth trajectory and provide sophisticated products and services that make a difference. Bridge Bank is part of Western Alliance Bancorporation, which has more than $80 billion in assets. Major accolades include being ranked as a top U.S. bank in 2023 by American Banker and Bank Director. For more information, visit www.bridgebank.com/lifesciences.

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CONTACT: Mark Quick

Investor Relations

(239) 325-9976Nicole Nelson

Media Relations

(239) 325-9976

KEYWORD: FLORIDA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: GENERAL HEALTH SURGERY MEDICAL DEVICES HEALTH HEALTH TECHNOLOGY

SOURCE: Catalyst OrthoScience Inc.

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PUB: 09/10/2024 10:16 AM/DISC: 09/10/2024 10:16 AM

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