Florida-based Accelus, a privately held spinal implant and instrument supplier, has closed on a $20 million debt facility with Los Angeles-based Symbiotic Capital.
Based in Palm Beach Gardens, Florida, Accelus is dedicated to developing expandable spinal implant technologies. The funding will be used to help improve Accelus’s position in the global spinal surgery industry.
OTW spoke with Accelus President and Chief Executive Officer Kevin McGann about the funds. “Securing this $20 million in debt equity signifies a pivotal step in expanding our reach and accelerating Accelus’s growth. We are actively growing our sales team to reach those regions of the country where, until now, our presence has ranged from minimal to nonexistent. This investment will also allow us to prioritize important development projects that further enhance our flagship FlareHawk and LineSider portfolios, alongside the comprehensive launch of our Toro-L lateral implant and subsequent iterations of our Toro product line.”
McGann continued, “Finally, the funding will also bolster our data collection efforts, providing more clinical evidence for the exceptional performance we’ve seen with our FlareHawk multidirectional expandable lumbar fusion device. We remain committed to establishing Accelus as the global leader in expandable implants and in driving the adoption of our comprehensive product portfolio throughout 2024.”
FlareHawk is Accelus’s flagship implant. It utilizes Adaptive Geometry™ to, according to the company, “expand simultaneously in width, height, and lordosis after traversing the neural corridor with a small profile.” Once expanded, the implant is “designed to reduce subsidence, restore foraminal height, and reestablish sagittal balance from a posterior approach.”
Symbiotic Capital is a life science credit firm based in Los Angeles, California. In the press release McGann said, “Symbiotic Capital’s investment is a testament to the growth potential of Accelus’s technology and our vision for the future of minimally invasive spine care.”
McGann continued, “Symbiotic Capital is an ideal partner for Accelus, sharing our commitment to innovations that support surgeons and improve patient outcomes, and their support will be instrumental in broadening our market reach and speeding up our R&D to ensure we stay at the forefront of spinal implant technology.”
