Financial

Medicrea raises $22m, taps Globus Medical co-founder Kienzle

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Medicrea (EPA:ALMED) said it raised a funding round worth about $22.3 million for its UniD patient-specific spinal rod technology and tapped GMEd co-founder Richard Kienzle as its new chief commercial & business development officer.

New York City and Lyon, France-based Medicrea said the €20 million round consisted of about $16.8 million (€15 million) in 4-year, 6.75% convertible bonds due August 12, 2020 bought by Athyrium Capital Management and another $5.6 million (€5 million) in equity.

Participants in the equity offering of more than 1 million ALMED shares at €4.86 ($5.43) apiece include Kienzle, president & CEO Denys Sournac, Medicrea’s board and “various U.S. and French investors,” the company said.

ALMED shares were down -2.0% to €5.80 each today in late-market trading in Paris today.

 

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Drue De Angelis

Drue is Managing Partner for The De Angelis Group, Executive Search firm exclusively for the Ortho & Spine industry.

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