JustRight Surgical Secures $27 Million in Funding and Rebrands as Bolder Surgical

VCBeat (WeChat ID: vcbeat) has learned that on January 16, 2019, medical device developer JustRight Surgical announced it had secured $27 million in financing. The round was led by River Cities Capital, with participation from Westwood Management and Providence Ventures.

It is reported that JustRight Surgical will use the funds to develop innovative products and expand its operations. Concurrently with the financing announcement, JustRight Surgical announced it would rename itself Bolder Surgical. The rebranding is part of a broader strategy to align with the company’s future development plans, facilitating expansion beyond pediatrics and building a stronger product portfolio.

Bolder Surgical, founded in 2010 and headquartered in Colorado, USA, is a medical device company that develops and markets laparoscopic equipment for pediatric patients. Since its inception, Bolder Surgical has completed seven rounds of financing, raising a total of $59.9 million. Notably, the company secured $7.5 million in Series A financing in 2014 and obtained $7 million in debt financing in 2016.

Bolder Surgical holds multiple patented technologies. Its 3mm vessel sealer, developed specifically for pediatric patients, is the world’s only low-power electrosurgical device approved by the FDA. As the global leader in providing medical devices tailored to pediatric patients, Bolder Surgical is committed to delivering appropriate surgical instruments for this population. The company’s proprietary technologies have filled a critical gap in minimally invasive surgery, and its surgical instruments are now widely used in more than 150 children’s hospitals across the United States and Europe.

Robert Kline, CEO of Bolder Surgical, stated, “The investment from River Cities Capital underscores our positive impact on pediatric patients, surgeons, and healthcare systems. Although the company has undergone a name change, we remain committed to leveraging our technical expertise to provide appropriately matched surgical instruments that enhance the safety of minimally invasive procedures in children.”

River Cities Capital, founded in 1994 and headquartered in Ohio, USA, is a venture capital firm specializing in the healthcare and information technology sectors. It is one of the most active and experienced growth equity funds in the healthcare and IT industries. To date, the firm has successfully raised $750 million and completed over 100 investments.

Providence Ventures, established in 2014, is a venture capital firm focused on investing in early-stage startups. It manages a $150 million venture fund on behalf of Providence St. Joseph Health. The firm aims to help healthcare companies address various challenges by providing funding, expertise, and other resources to innovative medical enterprises.

Westwood Management is an asset management firm based in Ohio, United States, with Lair Kennedy serving as its CEO.