Checkpoint Surgical, Inc., a privately held US-based medical device company with proprietary neurostimulation technology for nerve protection and repair, has completed a $16 million capital raise led by River Cities Capital, a Cincinnati-based healthcare-focused growth equity firm. Existing backers also participated in the round, including Cleveland-based venture funds Mutual Capital Partners and JumpStart NEXT Fund, First Analysis, a growth equity firm based in Chicago, and several other investors.
The growth capital will be used to support Checkpoint’s sales force expansion and multiple new product launches, including the recently acquired NeuroShield nerve wrap, as well as fueling continued research and development efforts. With a specialized, dedicated sales force of 30 and growing, and a substantial multi-disciplinary R&D team, Checkpoint Surgical is well equipped to scale the business rapidly.
“Nerve care specialists are doing amazing things in nerve protection and repair today, but they want to do even more to enhance the quality of life for their patients. We want that too and we believe we can help,” said Checkpoint’s President & CEO Len Cosentino. “This funding will fuel the advances in peripheral nerve care we are pursuing in collaboration with nerve care specialists through innovative research and product development.”