#United States #Tampa #Windham #PainTEQ #Signet

PainTEQ Secures Strategic Growth Recapitalization

In a significant move for the healthcare sector, PainTEQ, recognized as a leader in minimally invasive solutions catering to sacroiliac (SI) joint dysfunction, has successfully completed a majority growth recapitalization. This pivotal phase was co-led by esteemed U.S.-based healthcare investment firms, Signet Healthcare Partners and Windham Capital Partners. Together, these firms boast nearly half a century of combined investment expertise in the medical technology realm, and they, along with MVolution Partners, are set to propel PainTEQ's growth trajectory.

CEO Shanth Thiyagalingam expressed enthusiastic optimism about this strategic investment, noting that it will enable PainTEQ to accelerate its expansion plans. The firm aims to channel these funds into prospective clinical studies, furthering the development of next-generation products, and broadening its commercial footprint across the United States. This influx of capital is set to empower PainTEQ to not only enhance its operational capabilities but also to solidify its reputation within the healthcare industry.

At the forefront of PainTEQ's innovations is its flagship product, LinQ®, a patented, allograft-based SI joint implant known for its drill-less insertion technique delivered via a minimally invasive posterior approach. The LinQ® system has seen success in over 14,000 surgical procedures to date. Supported by comprehensive peer-reviewed studies, including the landmark SECURE clinical trial, this product is designed to enhance patient outcomes by alleviating chronic pain associated with SI joint dysfunction.

The leadership of Thiyagalingam has been instrumental during this transformative phase, bringing over 20 years of interventional expertise from his previous senior roles with notable companies such as Abbott, Nevro, and Stryker. Under his guidance, PainTEQ is poised to navigate this new chapter successfully. “Our partnership with seasoned institutional healthcare investors like Signet and Windham signifies a thrilling new era for PainTEQ. With a reinforced balance sheet and a dedicated ownership group, we are on track to deliver innovative solutions to patients grappling with SI joint dysfunction, while simultaneously building a leading interventional platform,” stated Thiyagalingam.

Dr. Dawood Sayed, a prominent figure in the field of pain medicine and the Vice Chair of the American Society of Pain and Neuroscience, remarked on the importance of this investment, asserting its validation of SI joint fusion as a fundamental treatment option. He expressed that this influx of capital is vital for innovation and research advancement, promising to broaden treatment avenues within the spectrum of interventional spine care. The collaboration aims to establish this procedure as a lasting standard of care for many patients.

Adding to the sentiment, David Kereiakes, Managing Partner at Windham Capital Partners, articulated their motivation for investing, asserting their commitment to a future that prioritizes safer, more effective solutions for healthcare professionals and their patients. He emphasized PainTEQ's innovative approach to minimally invasive technology and the significant leadership it brings to the interventional spine care market.

Ashley Friedman, Managing Director at Signet Healthcare Partners, also emphasized their excitement about partnering with PainTEQ. “We are eager to work alongside Shanth and the PainTEQ team to harness the company's leadership in SI joint treatments. With our further investments in clinical studies and product pipeline development, we believe PainTEQ is strategically positioned to evolve into a comprehensive interventional spine platform.”

The financial advisory role in this transaction was carried out by Raymond James, while legal counsel was provided by a consortium of firms, including Hill Ward Henderson and Bass, Berry & Sims, among others. The specific terms of the transaction were not disclosed publicly.

About PainTEQ

Founded in 2013 and headquartered in Tampa, Florida, PainTEQ is dedicated to developing innovative interventional pain management solutions focused primarily on back pain and SI joint dysfunction. Its unique SI joint implant system has empowered healthcare providers to perform over 14,000 minimally invasive procedures, thus transforming how chronic pain is managed effectively.

About Signet Healthcare Partners

Signet Healthcare Partners operates as a healthcare growth equity firm, specializing in investments in commercially viable pharmaceutical and medical technology enterprises. Established in 1998 and located in New York, Signet has successfully invested in over 60 companies, providing entrepreneurs with essential capital as well as strategic insights and extensive industry networks.

About Windham Capital Partners

Founded in 2006, Windham Capital Partners is a growth equity firm that focuses on investments at the convergence of medical technology and digital health. Windham targets transformative ventures and teams that strive to improve clinical outcomes, enhance access to care, and build efficiencies in healthcare systems. The firm leverages its expertise and expansive network to partner with forward-thinking entrepreneurs intent on elevating healthcare standards.