Checkpoint Surgical, a Cleveland, OH-based provider of neurodevices to locate and identify nerves and evaluate nerve and muscle function in surgical procedures, raised $7.5m in its first financing round.
The round was led by First Analysis, with participation from existing backers the NDI Healthcare Fund, JumpStart NEXT Fund and several individual investors.
The company intends to use the funds to continue growing in its core market of orthopedic and head and neck procedures as well as expand into new procedure markets and develop new products.
Led by Len Cosentino, Surgical President and CEO, Checkpoint Surgical advances the practice of neuroprotective surgery by providing surgeons with handheld nerve monitoring solutions including advanced, ergonomic neurostimulation technology to safely repair nerves intraoperatively.
The company has two FDA cleared devices:
– the Checkpoint Stimulator/Locator, designed to allow the surgeon to control and deliver custom stimulation settings for a wide range of surgical applications, and
– the Checkpoint Head & Neck Stimulator, designed specifically for head and neck surgical procedures.
The company currently serves over 200 hospitals.