Business
Imperative Care Completes Initial Closing of Series E Financing for up to $150 Million; Shacey Petrovic Appointed to Vice Chair, Board of Directors
Financing Fuels the Company’s Hypergrowth to Make Elevated Care Accessible to More Patients Petrovic’s Appointment Positions Imperative Care for Long Term
About this update from Insulet Corporation
[{"type":"text","content":"\nFinancing Fuels the Company’s Hypergrowth to Make Elevated Care Accessible to More Patients\n\n\nPetrovic’s Appointment Positions Imperative Care for Long Term Success and Scale\n\n\n CAMPBELL, Calif.--(BUSINESS WIRE)--\nImperative Care, Inc., a medical technology company developing connected innovations to elevate care for people affected by stroke and other ischemic diseases, today announced the initial close of an oversubscribed Series E financing.\n\n\nThe financing was led by Ally Bridge Group with participation from other existing investors, including D1 Capital Partners, AMED Ventures, Bain Capital Life Sciences, Rock Springs Capital Management LP, Innovatus Capital Partners, LLC and Pura Vida Investments. The financing also included participation from new investors, including Catalio Capital Management, LP, HealthCor Family Office, Montreux Growth Partners, and INTAI Technology Corp.\n\n\n“We are grateful for the continued support of our existing investors and welcome our new investors who share our vision for leadership in stroke and vascular thrombectomy,” said Fred Khosravi, Chairman and CEO of Imperative Care. “This latest financing fuels our hypergrowth strategy as we work to make better care accessible to more patients. We will continue to invest in novel technologies and clinical evidence to measure the impact of these technologies on patient outcomes.”\n\n\n“As investors in Imperative Care since the company’s Series C financing in December 2019, we have been impressed with the dramatic progress the company has made on many fronts, including treating more than 45,000 patients with life-saving technologies,” said Ally Bridge founder and CEO Frank Yu, who has also served as a Director on the Imperative Care Board since 2019. “We are excited to support the next stage of Imperative Care’s success, as the company strengthens its position for treating ischemic stroke and prepares to make a major contribution to the treatment of peripheral vascular disease.”\n\n\nAfter the initial closing and subject to the discretion of the Company, there may be additional closings of this Series E financing, raising up to $150 million in total.\n\n\nAppointment of Shacey Petrovic to Vice Chair, Board of Directors\n\n\nThe company also announced the appointment of Shacey Petrovic to the newly created position of Vice Chair of its Boar...