Boulder, Colorado-based Circinus Medical Technology, LLC has closed a fully subscribed Series A funding round led by Grand Oaks Capital.
Grand Oaks Capital is an investment firm founded by Paychex founder Tom Golisano. The firm’s Chief Investment Officer Dave Bovenzi will join Circinus Medical Technology’s Board of Directors.
OTW spoke with Circinus Medical Technology CEO Patrick West about how the company will use the funding. West told OTW, “Funding from this round will be used to: commercialize the Bolt™ Navigation System in the U.S., Europe, and select emerging markets, continue to expand our portfolio of applications, develop additional disruptive solutions based on emerging cutting-edge technologies, and build on our already impressive IP [intellectual property] estate.”
OTW also had the opportunity to discuss the Bolt Navigation System with Circinus Medical Technology Founder and Chairman John Dorman, M.D., a board-certified neurosurgeon. Dr. Dorman explained to OTW, “The Bolt system is a next generation approach to spine navigation.”
Dr. Dorman continued, “It leverages an iOS device, with its high-powered processor, familiar user interface, and highly sensitive gyroscope-on-chip™ technology to aid skilled surgeons in the placement of spine fixation with sub-1 mm accuracy. Its near zero footprint, instrument agnostic design, ability to utilize standard imaging, and subscription business model makes it ideal for today’s evolving global market.”
In the press release, Bovenzi expressed excitement about supporting the Bolt Navigation System. Bovenzi commented, “[T]his is exactly the type of disruptive technology we are excited to get behind. Mr. Golisano invests in teams and technologies that he knows can win.”
Bovenzi continued, “We also find the fact that the Bolt technology will bring best in class surgical navigation to the world, not just to the richest hospitals, in the richest countries, particularly compelling. It is the rare opportunity to do well and do good and are completely committed to the company’s success.”
