Irish firm Mainstay Medical raises €115 million to fund growth
The financing was co-led by new investors Gilde Healthcare and Viking Global Investors
Mainstay Medical, the Irish back pain specialist, has raised $125 million which it plans to use to continue its expansion over the coming years.
The company said the equity raise would help drive the commercial expansion of its ReActiv8 back pain therapy in the US, Europe and Australia, as well as additional post-market clinical studies and its general operations.
Jason Hannon, the chief executive at Mainstay Medical, said: “A financing of this magnitude will allow us to accelerate our efforts to revolutionize the treatment of mechanical low back pain through ReActiv8 Restorative Neurostimulation, including by continuing our rapid commercial growth and building on our insurance coverage for ReActiv8.”
