Medical device maker Tornier (NASDAQ:TRNX), which makes orthopedics products for extremities including the shoulder and ankle, announced Friday that it is acquiring OrthoHelix Surgical Designs, an Ohio company, for $135 million. Tornier, based in Bloomington, Minnesota, said that it will make additional payments over two years based on the acquiree achieving certain revenue goals. The transaction […]
A year after winning a $1 million grant from Ohio’s Third Frontier technology support program, medical device firm OrthoHelix Surgical Designs is looking for another state grant to help launch a new product line. Medina, Ohio-based OrthoHelix is seeking another $1 million grant for what the company calls a (pdf) “pocket plating system,” according to […]
OrthoHelix Surgical Designs Inc. topped off a recent $14 million investor fundraise late Wednesday afternoon with a $1 million Ohio Third Frontier grant. Third Frontier is Ohio’s $2 billion project to develop the state’s economy by investing in technologies in five industry clusters, including biomedical. In May, voters approved issuing $700 million in bonds to […]
Ohio Third Frontier commissioners made a slew of biomedical grants under two programs today. Recommended for more than $4.9 million under the Ohio Third Frontier Biomedical Program: — CardioX Corp., Dublin, in collaboration with Nottingham-Spirk Design Associates in Cleveland and QTest Labs in Columbus, was awarded $986,373 to finalize designs and clinical protocols for a […]
Total capital raised corrected 8:13 p.m., June 23, 2010. OrthoHelix Surgical Designs Inc. has added a $4.6 million cherry on top of its third fundraising round for a total of $14 million raised since early 2008. The company that recently relocated to Medina from Akron, Ohio, develops and makes implants and instruments that surgeons can […]
A couple of Midwest biomedical companies announced new venture financing this week. Could the deep freeze for early-stage investments be thawing?
A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.
The money was added to a $7.3 million round last year. The company will use the money to expand and sell into 40 states. (It's currently in 25.)
