EAST PROVIDENCE – IlluminOss Medical Inc. has been acquired by private equity firm HealthpointCapital, the companies announced on May 1.
HealthpointCapital took a majority stake in the commercial market medical company that specializes in minimally invasive orthopedic fracture repair in skeletally mature patients.
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“We are convinced that our technology can change outcomes for elderly trauma patients,” said Robert Rabiner, chief technical officer and founder of IlluminOss. “This collaboration with HealthpointCapital will allow us to expand our patient base, finish our development and accelerate commercialization.”
HealthpointCapital is a private equity firm focused exclusively on the musculoskeletal sector, according to the company. Terms of the deal were not disclosed.
“IlluminOss has developed an ingenious solution for many challenging fracture indications. It can benefit a range of patients, including many of those treated conservatively today and help return them faster to normal activity,” said Mike Mogul, HealthpointCapital’s president in a statement.
