THINK Surgical raises USD 65M in growth capital

THINK Surgical, Inc announced it has entered into a debt facility with Symbiotic Capital which will provide up to $65 million of growth capital. The facility provided an initial funded tranche of $25 million, with an additional $15 million based on achievement of certain milestones, and up to $25 million of discretionary capital.

The proceeds will be used by THINK to continue to advance its dual channel commercial strategy for its TMINI® Miniature Robotic System, which is currently compatible with approximately 70% of the market share for total knee implants.1

Stuart Simpson, President, and Chief Executive Officer of THINK Surgical said “This facility, combined with recent additional investments by our existing investors, will allow us to continue our significant growth and development of TMINI, and is expected to fully finance the Company to profitability.”

“We are excited about TMINI’s potential to advance surgical robotics in the field of orthopedics, and we are impressed by the compelling value proposition it offers to both physicians and patients,” said Himani Bhalla, Senior Managing Director and Chief Investment Officer of Symbiotic Capital.

Piper Sandler served as financial advisor to THINK on the transaction.
MB Bureau