WARWICK – Biomedical Structures LLC has received a $3.75 million investment in a financing round led by Ampersand Ventures, a Boston private equity firm, the companies said this week.
BMS makes biomaterials and textiles for medical use and was founded in 2003. The company, which had about 20 employees as of last year, said it would use the money to hire more workers and invest in infrastructure.
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“The Ampersand investment comes at a critical time in our company’s development when we are seeing increased demand for our expanding portfolio of products and services,” BMS President John Gray said in a statement. “The additional resources will enable us to grow even faster with new personnel, more advanced equipment and increased manufacturing capacity.”
Financial terms were not disclosed in a news release, but a Securities & Exchange Commission filing first reported by MassDevice put the total investment at $3.75 million.
“Biomedical textiles are integral to the current and next-generation devices of some of the world’s largest integrated medical device manufacturers,” Todd Rainville, a partner at Ampersand, said in a statement. “BMS has done a remarkable job positioning itself as a leader in the field, allowing it to capitalize on the industry’s strong growth, particularly in exciting new areas such as tissue engineering.”
Additional information is available at bmsri.com.
