Providence Medical Technology, a cervical spine technology provider in Lafayette, Calif., reached $12 million in new financing.
Here are four points:
1. The proceeds will push forth the company's DTRAX cervical fusion products, which aid patients with cervical degenerative disc disease.
2. Stanmore Medical Investments, Aphelion Capital and other private investors participated in the new financing.
3. Providence named Jason Hoffman to vice president of global sales.
4. Equipped with 20 years of sales and marketing experience in medical device and life sciences industries, Mr. Hoffman previously worked for ArjoHuntleigh and Kinetic Concepts.
"Our focus is on differentiated, tissue-sparing devices and instruments that are designed to improve clinical outcomes, minimize complications, increase procedural efficiency and reduce recovery times," said Jeff Smith, CEO of Providence.