
PE-backed GTX Medical merges with US peer
PE-backed GTX Medical, a Netherlands-based medtech company, has merged with NeuroRecovery Technologies, a US-based medical devices development company.
The merged entity, GTX Medical BV, will have charitable organisation The Christopher & Dana Reeve Foundation as a new investor, alongside existing investors LSP, Inkef, Wellington Partners and Gimv.
The latter backers invested €26m in a series-A round for GTX in 2016. At the time, the company also secured a €10m deferred innovation loan from the Dutch ministry of Economic Affairs to support the development of its innovative therapeutic solutions.
Company
Founded in December 2014, GTX is developing an implantable neuro-stimulation system with real-time motion feedback and uses training tools to rehabilitate patients suffering from neurological disorders such as spinal cord injury. The company is based in Eindhoven and employs around 50 people.
Founded in 2011, NeuroRecovery Technologies is a medical technology company focused on the design and development of devices and applications to help restore function and movement in patients with paralysis. Its current technology evolved from collaborative research between the University of California Los Angeles, the California Institute of Technology, and the University of Louisville. The business is based in San Juan Capistrano.
People
GTX Medical – Sjaak Deckers (CEO).
Latest News
Aurelius exits Transform Hospital Group to Y1 Capital
Buyer adds cosmetic surgery chain to portfolio of healthcare assets; is targeting IPO on Nordic Growth markets
HIG Europe's lower mid-cap strategy eyes succession and carve-out opportunities
Flexible remit allows EUR 2bn vehicle to invest through macroeconomic uncertainty
Golding Capital holds EUR 65m first close for debut impact fund
Fund-of-funds has made two investments to date and plans to attract further European institutional LPs
GRO Capital acquires majority stake in Netigate
Acquisition of the Swedish customer and employee feedback platform follows a Houlihan Lokey-led sale process