HealthpointCapital Background
HealthpointCapital is a New York-based private equity firm focused exclusively on the musculoskeletal sector. HealthpointCapital is led by CEO and founder John H. Foster and President and Managing Director Mike Mogul, who formerly served as Group President, Orthopaedics at Stryker Corporation and as CEO of DJO Global.
MB Venture Partners Background
Memphis-based MB Ventures, CrossRoads largest shareholder prior to this transaction, was the catalyst behind this transaction.
Founded in 2006, MB Venture Partners focuses its investments in biotechnology and medical device companies that have outstanding management teams with relevant industry experience, large addressable markets, solid science, and strong intellectual property.
MB Venture Partners prefers to invest in seed or early-stage financings, but selectively considers later-stage financings. The company focuses on companies that offer product solutions for musculoskeletal disease.
CrossRoads’ Take on the Acquisition
OTW spoke with Vernon Hartdegen, CEO and co-founder of CrossRoads. Hartdegen said, “We couldn’t be happier about partnering with Mike Mogul and the HealthpointCapital team. This partnership gives us the opportunity to expand our portfolio and accelerate growth. CrossRoads has experienced rapid growth with our Active Stabilization technology and now with this partnership we will continue to drive that platform technology while continuing to launch compelling technologies and products.”
Hartdegen continued, “HealthpointCapital is an ideal partner for us given their expertise and focus in the musculoskeletal space. Both partners have extensive expertise and track records of success and share a passion for the extremity space…This relationship, the invested capital, and the musculoskeletal expertise will allow CrossRoads to inject more innovation into the extremity space—which benefits our patients, customers, and industry. We’re excited!”
HealthpointCapital’s Take on the Acquisition
HealthpointCapital’s Managing Director Mike Mogul told OTW, “After more than a year, diligencing the best extremities companies, HealthpointCapital is excited to partner with the CrossRoads team to create the leading growth company in the sector. Stability with compression to foster bone healing has been a constant challenge in orthopedics. CrossRoads has developed an elegant solution and delivers it with excellent instrumentation for the surgeon.”
