Orthocare Innovations, Oklahoma City, Oklahoma, has received a significant equity investment from Schooner Capital, Boston, a private investment group. The investment was made in support of the commercial launch of Orthocare’s new product pipeline. Terms of the transaction were not disclosed.
“We are fortunate to have developed this partnership with the team at Schooner Capital,” Orthocare President and CEO Doug McCormack commented. “At Orthocare Innovations, we have built a world-class R&D capability and forged global research partnerships to commercialize technologies that will have a transformative effect on the O&P market. Schooner’s long-term growth investment philosophy supports our approach to innovation, and will accelerate our ability to enhance patient care and improve clinical outcomes.”
According to Orthocare, Orthocare’s founders and executive management will retain significant equity interests in the company, as well as board representation by McCormack; Chief Technology Officer David Boone, CP, MPH, PhD; and Chief Operating Officer Doug Wallace.
Peter Binas, a managing director at Schooner, said, “Improved patient outcomes-that’s what we see here. Orthocare Innovations brings not only a unique mix of talent and technologies, but also a deep commitment to delivering measurable patient benefits across the prosthetics and orthotics fields. When a team of this talent and energy turns its attention to transforming cutting-edge research into practical solutions for patients, good things happen. We are all very excited at the opportunity to work with Doug, David, and the team.”
