Unquote

Omega Funds leads $10m round for SpineVision

  • Ellie Pullen
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Omega Funds has led a $10m funding round for French medical devices provider SpineVision, which also included investments from two other new backers.

Omega Funds, Alto Invest and Midi Capital all took part as new investors in the funding round for SpineVision, which also saw a significant capital injection from an unnamed private investor.

The fresh capital will be used to expand SpineVision's research and development division, as well as to allow the company to focus on the development of its minimally invasive approach to treating spinal disorders.

Omega Funds has offices in Boston, US, and London. The GP focuses its investments on the healthcare sector in Europe, North America and Asia.

Previous funding
According to unquote" data, SpineVision first received funding in 1999 from Sofinnova Partners, which invested $2.4m for a minority stake. Sofinnova then invested a further €2m in 2001 in a second round of funding, alongside New Medical Technologies (NMT), which invested €4m. The company's third round took place in 2002 and raised €17m, with HealthCap Private Equity and Innoven Partenaires joining as new investors.

In 2005, new investor Bio*One Capital led a $16m funding round for SpineVision, which saw all previous backers inject new capital into the company. SpineVision's most recent financing round prior to this latest $10m investment took place in 2011, a $5m round which saw the company's management team invest alongside previous backers.

Company
SpineVision develops products for the surgical treatment of spinal disorders, including tumours, lumbar degenerative disc diseases, deformities and trauma.

The company was founded in 1999 and is headquartered in Antony, France, and has additional offices in Belgium, Italy, the UK and the US.

People
Arnaud Brisard and Gérard Hascoët are respectively CEO and executive chairman of SpineVision. Renee Aguiar-Lucander, a partner at Omega, is based in the firm's London office and led the deal.

Advisers
Company – Bryan Garnier & Co (Financial due diligence).

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