Imperative Care raises $260m in Series D funding round
Join Our Newsletter - Get important industry news and analysis sent to your inbox – sign up to our e-Newsletter here
X

Imperative Care raises $260m in Series D funding round

16 Jul 2021 (Last Updated July 16th, 2021 15:16)

The funds will also be used to develop and market Truvic Medical’s technologies for addressing peripheral vascular disease.

Imperative Care raises $260m in Series D funding round
Truvic CEO Mike Buck (left) with Imperative Care chairman and CEO Fred Khosravi (right). Credit: Business Wire.

Imperative Care has raised $260m in a Series D funding round led by D1 Capital Partners to develop technologies that can improve stroke care.

New investors HealthCor Investments and Innovatus Capital Partners participated in the funding round along with current investors, including Ally Bridge Group, Bain Capital Life Sciences and Ascension Ventures.

The funds will be used to advance the current marketing and development of various Imperative Care technologies in the extensive stroke care continuum.

In addition, the company will use the proceeds to form a strategic network of wholly-owned development subsidiaries in various collaboration areas.

As part of the funding, James Rogers from D1 Capital Partners will also be appointed to Imperative Care’s board of directors.

Imperative Care has acquired a peripheral thrombectomy firm, Truvic Medical, in a stock-for-stock deal in relation to the funding.

As per the transaction, Truvic will work as a wholly-owned unit of Imperative Care while maintaining its founding leadership team and brand identity.

Furthermore, the Series D funding proceeds will be used to develop and market Truvic’s technologies for peripheral vascular disease treatment.

Imperative Care chairman and CEO Fred Khosravi said: “In addition to our initial focus in the field of stroke, we see natural areas of synergy across unmet patient needs, and we are committed to accelerating those paths to commercialisation.

“To achieve that objective, and beginning with Truvic, we are creating a network of wholly-owned subsidiaries that will leverage synergies where appropriate while at the same time giving the development programmes the independence, specialisation and focus they need to bring important vascular intervention products to the market to meet patient needs as rapidly as possible.”

Two of Imperative Care’s product platforms have received 510(k) clearance from the US Food and Drug Administration.

These platforms are a family of access catheters known as Large Distal Platform, which aids in smooth navigation into the brain’s blood vessels, and the Zoom Aspiration System, which enables clot removal during ischemic stroke.