Pivot Medical, a Sunnyvale, CA-based medical device company focused on developing and marketing technologies for the hip arthroscopy segment of the orthopedic marketplace, has raised $32m in Series C financing.
The round was led by new investor Adams Street Partners, with participation from:
– new investor Delphi Ventures,
– founding investor Montreux Equity Partners, and
– existing investor Ivy Capital Partners.
Pivot Medical intends to use the capital for the commercial rollout of its Pivot Hip Arthroscopy System in the United States and Europe and for expansion of its clinical research programs.
Led by CEO and president Jack Giroux, Pivot Medical has developed a system designed to improve the safety, efficiency and ease of performing hip arthroscopy procedures.
In conjunction with the funding, Dr. Michael Lynn of Adams Street Partners and John Maroney of Delphi Ventures will join Pivot Medical’s board of directors, which also includes Guy Mayer, CEO of Ascension Orthopedics; Dr. John Savarese of Montreux Equity Partners; Julian Nikolchev, Pivot Medical co-founder; and Mr. Giroux.