The privately held world renowned spine company, Lanx, Inc. disclosed today the conclusion of its Series C equity financing round by raising US$15 million. The capital financing round was headed by Credit Suisse Asset Management through its investment group, Customized Fund. Current preferred equity investors, Oakwood Medical Investors, Chicago Growth Partners, Noro-Moseley Partners and Goldman Sachs Private Equity Opportunities Fund also participated together with new investor Hercules Technology Growth Capital.
The raised funds will be allotted for the management of the sales growth, marketing network and to further expand the company's comprehensive therapy that uses minimal invasion and utilizes spine fusion.
"We are experiencing rapid growth of our lateral platform and our core fusion business, as surgeons consistently tell us we have the most innovative solutions on the market today. This financing allows us to further build on that success by expanding our high quality sales force, providing more resources to R&D and engineering to more rapidly develop and launch new products, and accelerating surgeon training on our lateral platform. We are extremely pleased with the support our existing investors have shown and are excited to welcome CFIG as our new investor. Lanx is strongly positioned to continue our momentum of both revenue growth and market share gains as we build a world-class, highly diversified spine company," according to Lanx Chief Executive Officer Dan Gladney.
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