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OrthoAccel Technologies, Inc. Announces $15 Million Series C Financing BY EDITOR, JANUARY 13, 2017
OrthoAccel Technologies, Inc. today announced a $15 Million Series C financing project that includes the privately held innovation company’s institutional equity investors, S3 Ventures, HealthpointCapital and Piper Jaffray Merchant Banking. OrthoAccel Technologies is the manufacturer and marketer of AcceleDent, the first and only FDA-cleared vibratory orthodontic device that is clinically proven to speed up bone remodeling by employing SoftPulse Technology that stimulates cellular activity and enhanced physiological bone turnover.
“We remain excited about OrthoAccel’s global market opportunity and AcceleDent’s position as the market leader of the accelerated orthodontic category,” said Brian R. Smith, managing director of S3 Ventures. “With continuously high satisfaction marks from patients and reports of enhanced predictability and improved practice economics from leading orthodontists using AcceleDent, we remain committed to driving future growth.”
This financing round comes as OrthoAccel CEO Michael K. Lowe announces that he is stepping down and Kelly Enos, the company’s chief financial officer, will serve as interim CEO while a search is conducted by the board. Lowe will continue to advise the board during the leadership transition.
“I’m proud of what our team has accomplished and the timing is right for this transition as OrthoAccel enters its next phase of growth as the leader in accelerated orthodontics,” said Lowe.
John McCormick, managing director of HealthpointCapital, credits Lowe’s visionary leadership for bringing AcceleDent to market, building a world-class innovation company and maintaining market leadership as new market entrants emerged.
“We greatly appreciate Mike’s contributions to the growth of this company and for his dedication to orthodontic innovation,” said McCormick. “As we look forward to this next phase of OrthoAccel’s growth, we remain committed to the orthodontic industry, helping orthodontists achieve predictable outcomes and enhancing the treatment experience for patients.”
McCormick adds that with OrthoAccel’s position as the leader of the accelerated orthodontic category comes the responsibility of having strong clinical evidence that proves the new technology’s benefits and effectiveness. OrthoAccel’s clinical library includes 15 peer-reviewed studies, three randomized controlled trials, several case studies, and testimonials from leading orthodontists demonstrating that AcceleDent enhances treatment efficiency and improves predictable clinical outcomes.
For more information about OrthoAccel, visit AcceleDent.com.
About OrthoAccel Technologies, Inc.