Imperative Care Completes Initial Closing of Series E Financing for up to $150 Million; Shacey Petrovic Appointed to Vice Chair, Board of Directors
July 25 2024 - 8:00AM
Business Wire
Financing Fuels the Company’s Hypergrowth to
Make Elevated Care Accessible to More Patients
Petrovic’s Appointment Positions Imperative
Care for Long Term Success and Scale
Imperative 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.
The 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.
“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.”
“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.”
After 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.
Appointment of Shacey Petrovic to Vice Chair, Board of
Directors
The company also announced the appointment of Shacey Petrovic to
the newly created position of Vice Chair of its Board of Directors.
Petrovic joined the Imperative Care Board in 2023. In the role of
Vice Chair, Petrovic will focus on strategies to scale the company
with the goal of bringing life-changing technologies to more
patients suffering from stroke and other devastating vascular
diseases.
Petrovic also serves on the Boards of Exact Sciences (NASDAQ:
EXAS), Ambu A/S (OTC US: AMBBY) and Axena Health. Previously,
Petrovic served on the board and was President and CEO of Insulet
Corporation (NASDAQ: PODD), a diabetes technology company. Under
her leadership, Insulet grew to serve hundreds of thousands of
people with diabetes across the globe.
“It has been a privilege to benefit from Shacey’s business
acumen and strategic mastery as we position Imperative Care for
long term success and scale,” Khosravi said. “On behalf of our
Board of Directors, I would like to congratulate Shacey on her
appointment to Vice Chair as we continue to build the thrombectomy
company of the future with the patient at the center.”
“I am excited to step into this new leadership role as
Imperative Care accelerates its work to deliver impactful
innovations to patients at the most tenuous moments of their
lives,” said Petrovic. “My experience serving on the Imperative
Care Board has been quite inspirational as the company engineers
solutions to some of the greatest challenges in medicine through
medtech and digital health innovations.”
About Imperative Care, Inc.
Imperative Care is a commercial-stage medical technology company
researching and developing connected innovations to elevate care
for people affected by devastating vascular diseases such as stroke
and pulmonary embolism. The company is focused on addressing
specific gaps in treatment and care to make an impact across the
entire patient journey. Imperative Care is based in Campbell,
Calif. https://imperativecare.com
Legal Disclaimer / Forward-Looking Statements
This press release is not an offer to sell securities or a
solicitation of an offer to buy any securities, and may not be
relied upon in connection with the purchase or sale of any company
security. This release may contain forward-looking statements
regarding plans for future financing, projected business
performance, future innovations and improvement of patient
outcomes. Such statements are forward-looking statements and there
can be no assurance that the results stated or implied by these
forward-looking statements will actually be realized or achieved by
the company. Forward-looking statements may be based on management
assumptions that could prove to be wrong. The company’s predictions
may not be realized for a variety of reasons as the company’s
business is subject to substantial risks and potential events
beyond its control that could cause material differences between
predicted and actual results.
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version on businesswire.com: https://www.businesswire.com/news/home/20240725822876/en/
Investor: Matt Garrett, CFO Imperative Care, Inc.
408-476-1672 mgarrett@imperativecare.com
Media: Jana Chow Imperative Care, Inc. 925-324-9846
jchow@imperativecare.com