CHICAGO – December 17, 2015 – First Analysis, a leading private growth-equity investor, has made a new investment in Checkpoint Surgical. Checkpoint, based in Cleveland, advances the practice of neuroprotective surgery by providing surgeons with state-of-the-art technology to safely and cost-effectively help protect and repair nerves intraoperatively. Checkpoint was recently named #6 in Crain’s Northeast Ohio Fast 52, and #7 in the Weatherhead 100 fastest growing companies in Northeast Ohio. The $7.5 million round, which included JumpStart NEXT Fund and several of the company’s existing investors, will enable Checkpoint to continue growing in its core market of orthopedic and head and neck open procedures as well as expand into new procedure markets and develop new products.
The Checkpoint handheld nerve monitoring solution is the emerging standard of care in the billion dollar neuroprotective surgery market and fills a critical gap in available solutions in both price and clinical utility. The Checkpoint devices include advanced ergonomic neurostimulation technology providing surgeons the capability and control to locate and assess motor nerve function providing a superior safety profile.
First Analysis Managing Director Tracy Marshbanks commented, “Intra-operative nerve injury is a significant risk faced by millions of patients every year. Checkpoint has developed unique, effective and simple tools that put control in the surgeon’s hands. We are excited to support the management team as they expand their core markets and develop new tools.”
“We are very happy to have First Analysis join our team. Their extensive experience researching and investing in the health care sector will provide invaluable insight going forward,” said Len Cosentino, Checkpoint Surgical’s president and CEO. “The investment will enable us to accelerate our mission to provide start-of-the-art solutions for perioperative protection, assessment, and repair of neuromuscular function.”
About Checkpoint Surgical
Checkpoint Surgical provides surgeons with state-of-the-art neurodevices to locate and identify nerves and evaluate nerve and muscle function in surgical procedures. The company has two FDA cleared devices: the Checkpoint Stimulator/Locator, designed to allow the surgeon to control and deliver custom stimulation settings for a wide range of surgical applications, and the Checkpoint Head & Neck Stimulator, designed specifically for head and neck surgical procedures. Over 200 hospitals are currently using Checkpoint, including many of the nation’s leading healthcare institutions.
For more information, please contact:
Tracy Marshbanks
312-258-7111
tmarshbanks@firstanalysis.com