Safewire LLC is growing, with a recent major infusion of funds. Stanmore Medical Investments (“SMI”) has closed a transaction in which Medvest Fund One invested $1.1 million for newly issued common membership units from Safewire. The deal is the first transaction closed by SMI on behalf of the current Medvest Fund.
$1.1 million for Safewire LLC
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Safewire LLC, which is headquartered in Cooper City, Florida, aims to improve outcomes by creating instrument systems specifically designed to facilitate minimally invasive procedures. The company sells a product called Y-Wire, which is designed to reduce inadvertent advancement and to decrease the amount of fluoroscopy during surgical procedures. Additionally, Safewire sells a Jamshidi needle product designed to provide surgeons with improved depth control within the vertebral body by offering a mechanically controlled tip. This needle, known as Tiger Needle, also integrates a technology designed to complement placement of Y-Wire.
In the August 1, 2013 news release Medvest General Partner David Cash stated, “We are very excited to participate in Safewire’s growth. The company’s products are elegantly simple and provide a solution for surgeons frustrated by the lack of instruments specifically designed for the constraints of MIS surgery. While we like the company’s products, we love the management team due to their deep commitment to the industry and their intense focus on achieving growth.”
Proceeds from the transaction will be used to launch the Tiger Needle product line extensions, bolster the Safewire Sales Team and finance working capital. Tiger Needle 2.0 is expected to launch later this year.
Asked for details, David Cash told OTW, “Regarding the Tiger Needle, unfortunately we cannot comment on specific product release plans. However, Safewire has some exciting plans for the Tiger Needle that will enhance its controlled delivery and removal functionality, as well as introducing derivatives that address unique challenges to specific techniques. We will be adding a minimum of two senior regional managers who will oversee our growing independent distributor network.”
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This is a fascinating development. In my practice we've seen similar outcomes with the revised protocol. The key differentiator seems to be patient selection criteria. Has anyone else noticed the correlation with BMI thresholds?
Great point. I'd push back slightly on the conclusion, the sample size in the cited study is too small to draw population-level inferences. That said, the directional signal is compelling and worth a larger RCT.
We implemented a similar approach last year. Early results are promising but we're still gathering 12-month follow-up data. Happy to share our protocol if anyone is interested.
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