Pivot Medical Secures Series C

Pivot Medical, a startup orthopedic company focused on devices for minimally invasive hip restoration, has completed a Series C funding round worth $32 million.

Led by new investor Chicago, Ill.-based Adams Street Partners, the funding round also included participation from new investor Delphi Ventures in Menlo Park, Calif.; founding investor Montreux Equity Partners, also in Menlo Park; and existing investor Ivy Capital Partners in Montvale, N.J.

According to Pivot Medical executives, the company will use the capital to support the commercial rollout of its Pivot Hip Arthroscopy System in the United States and Europe and to expand its clinical research programs. The system, which was developed from the ground up to address unique challenges in hip arthroscopy, is designed make the procedure “safer, more efficient and easier for physicians to perform,” according to the company.

“Pivot Medical was founded to deliver new technologies that dramatically advance the field of minimally invasive hip restoration, and we are meeting this commitment with a comprehensive line of innovative, highly differentiated products that will enable physicians to successfully treat their hip pain patients while preserving the delicate and complex hip anatomy,” said Jack Giroux, president and CEO of Pivot Medical. “We are gratified to have the confidence and support of two additional top-tier investors as we expand our reach in the United States and Europe.”

As part of funding round, Dr. Michael Lynn of Adams Street Partners and John Maroney of Delphi Ventures will join Sunnyvale, Calif.-based Pivot Medical’s board of directors, which also includes Guy Mayer, CEO officer of Ascension Orthopedics; Dr. John Savarese of Montreux Equity Partners; Julian Nikolchev, Pivot Medical co-founder; and Giroux.

“With its total dedication to hip preservation, Pivot Medical has developed a unique, high-value and comprehensive technology platform that we believe has the potential to make significant inroads into the fast-growing market for hip restoration procedures,” said Lynn. “We look forward to joining Pivot’s top-notch management team as it rolls out this important technology to physicians and patients worldwide.”