Turbett Surgical announces growth investment by JP Morgan LSPC

Turbett Surgical, Inc. announced a recapitalization and growth investment by J.P. Morgan Life Sciences Private Capital. Turbett Surgical’s Instrument Pod provides hospital and ambulatory surgery center (ASC) customers a sterilization solution that dramatically reduces surgical paper waste and saves OR and SPD staff time in preparing instrument trays and the OR for surgery.

Proceeds from the financing will provide working capital to fuel further product innovation and help the company scale its commercial team to meet overwhelming customer demand for the Instrument Pod solution.

“Our team is thrilled to partner with Turbett on their mission to accelerate growth, and bring this eco-friendly and labor sparing solution to more hospital and ASC customers,” said Joe Siletto, Managing Partner at J.P. Morgan Life Sciences Private Capital. “Every year tons of medical waste are generated by the antiquated ‘blue wrap’ method of surgical tray preparation for sterilization. The Instrument Pod solution eliminates the need for blue wrap while saving customers valuable staff time in preparing trays for surgeries.”

“The investment from J.P. Morgan Life Sciences Private Capital is a wonderful evolutionary step for Turbett Surgical, allowing us to accelerate our mission of increasing surgical efficiency. J.P. Morgan Life Sciences Private Capital will facilitate reach into even more hospitals and ASC’s surgical and sterile processing departments, where we will continue to reduce operating room downtime and simplify surgical instrument reprocessing,” said Rob Turbett, Founder of Turbett Surgical.

“Through relentless innovation and commitment to excellence, Turbett Surgical has become the preferred choice for healthcare facilities seeking superior surgical instrument sterilization,” said Alex Zapesochny, Chairman of Turbett Surgical. “We are incredibly excited to join forces with J.P. Morgan Life Sciences Private Capital to propel Turbett Surgical to unprecedented heights, ensuring that more patients and surgical teams benefit from our groundbreaking sterilization technology.”

“We are proud to partner with Turbett on its journey in transforming the OR and SPD, and to help support expansion of their customer base to the over 8,000 hospitals and ASCs in the U.S.,” said Anne Stone, Investor at J.P. Morgan Life Sciences Private Capital. “We look forward to collaborating with Turbett as they continue to deliver measurable impact and value to hospitals and ASCs alike.”

J.P. Morgan Life Sciences Private Capital’s investment marks Turbett Surgical’s inaugural institutional financing. This partnership underscores J.P. Morgan’s commitment to partnering with founders and founder-owned businesses, providing the strategic capital and support needed to empower innovative companies to scale and realize their full potential.
MB Bureau