GRAND RAPIDS, Mich., Aug. 22, 2023 /PRNewswire/ — Shoulder Innovations Inc. (SI), a Grand Rapids, Michigan-based leader in the shoulder replacement implant market, announced securing of a $45M debt facility in partnership with Trinity Capital. This is in addition to SI’s recent $42M Series D equity financing, which closed earlier this year.
This additional capital will bolster efforts to rapidly expand commercial and technology initiatives for the company.
Following the successful launch of its highly recognized InSet™ Shoulder Arthroplasty platform, this additional capital will bolster efforts to rapidly expand both commercial and technology initiatives for the company. SI has developed and commercialized their innovative and integrated InSet™ system, which includes the successful InSet™ Glenoid, Humeral Short Stem, Reverse and Stemless components. SI has built a world-class product line which is gaining significant traction in the marketplace.
Rob Ball, CEO of Shoulder Innovations said, “We’re delighted to announce this next milestone in establishing a very robust balance sheet established to support the growth of a world-class technology platform. We’re looking forward to a fruitful relationship with Trinity Capital, built upon our great accomplishments thus far. We are on a mission to be the innovation leader in shoulder arthroplasty.”
Matthew Ahearn, Chief Operating Officer of Shoulder Innovations, said, “The Trinity Capital debt facility provides Shoulder Innovations flexibility to make additional investments into the team, systems infrastructure and InSet™ technology to further accelerate the growth and scale of the business.”
Shoulder Innovations has developed the InSet™ Shoulder Replacement Platform leveraging the extensive experience and history of innovation of SI’s technical, commercial, and clinical teams. Together with surgeon partners, the company has proven the effectiveness of its InSet™ technology in solving the most…
