SAN DIEGO, Calif. (PRWEB) September 6, 2006
KFx Medical Corporation, a developer of minimally invasive percutaneous repair systems for rotator cuff repair has completed a $2M working capital loan facility with Lighthouse Capital Partners.
”We chose Lighthouse Capital Partners from a group of high quality financers. Their knowledge of our business along with impeccable references and extraordinary track record figured prominently in our decision. This working capital loan will assist us to provide options to all orthopedic surgeons as they seek to improve the quality of torn rotator cuff surgeries,” indicated W. Tate Scott, KFx president and CEO.
"KFx Medical is a great example of the kind of company with whom we like to work. It is clear from our detailed due diligence process that they have built their company - be it product, management, advisors, or suppliers - on quality. KFx Medical has developed a truly innovative surgical platform to approach a large orthopedic problem. We're delighted to be a part of the team." said Jeff Griffor, Principal, Lighthouse Capital Partners.
Over four million people seek medical advice for shoulder pain every year; torn rotator cuffs alone account for more than 500,000 surgeries annually and have traditionally required many weeks of rehabilitation. Traditional minimally invasive techniques, although promising - patients typically experience less pain and regain full range of motion more quickly - require surgeons to have advanced videoscopic skills. In contrast, KFx provides simple systems for surgeons while ensuring more anatomical repair for the patient, yielding better clinical outcomes.
About KFx Medical Corporation
Headquartered in Carlsbad, Calif., KFx Medical Corporation was founded in 2003 to develop clinically relevant solutions to rotator cuff repair. The company is privately held – Investors include Charter Life Sciences, Arboretum Ventures, Montreux Equity Partners, and MB Ventures.
About Lighthouse Capital Partners
Lighthouse Capital Partners is a leading venture debt firm with investing offices in Menlo Park, Calif. and Cambridge, Mass. Lighthouse invests capital in the form of secured loans to early- and expansion-stage technology and life science companies that have received equity financing from top-tier venture capital firms. The Lighthouse investment team consists of seasoned professionals with a wide breadth of operating and financial experience. Over the past decade, LCP has funded some of the nation's pre-eminent young companies, including Millennium Pharmaceuticals, Alnylam Pharmaceuticals, Netflix, Ariba, Broadbase Software, Rhapsody Networks, Foundry Networks, NeuroMetrix, and Airespace.