Funding supports continued growth and innovation in thromboembolic disease care

CAMPBELL, Calif.–(BUSINESS WIRE)–Imperative Care, Inc., a medical technology company focused on advancing treatments for patients suffering from thromboembolic disease, today announced the closing of an oversubscribed $100 million convertible note financing.

The round was co-led by new investors Elevage Medical Technologies and Perceptive Advisors in partnership with existing investor Catalio Capital Management, LP. New investors Longaeva Partners LP and Brown Advisory also participated in the financing. The round was supported by Imperative Care’s existing investors, including Ally Bridge Group and Bain Capital Life Sciences.

Imperative Care also announced the appointment of Evan Melrose, M.D., CEO of Elevage Medical Technologies, to its Board of Directors. A seasoned medtech investor and health care innovator, Dr. Melrose brings extensive experience built over decades identifying and supporting category‑defining medical technology companies.

Proceeds from the financing will support the continued commercialization of Imperative Care’s stroke and vascular thrombectomy portfolios. Proceeds will also be used for investments in next-generation and new product development, including the Telos robotic platform*, as well as clinical evidence generation to further demonstrate the impact of these technologies on patient outcomes.

“This financing is a reflection of the strong momentum we have built and the confidence our investors — new and existing — have in our vision,” said Fred Khosravi, Chairman and CEO of Imperative Care. “We are expanding access to life-saving technologies for patients at the most critical moments of their lives, and this capital positions us to continue driving forward on that mission across stroke, vascular, and beyond.”

Thromboembolic disease is a serious medical condition and a leading cause of long-term disability for adults in the United States. Imperative Care offers solutions for the treatment of blood clots in the cerebral arteries and in the peripheral vasculature, with its products being used commercially in more than 78,000 procedures.

BofA Securities and J.P. Morgan acted as joint placement agents for Imperative Care on the financing.

About Imperative Care, Inc.

Imperative Care is a commercial-stage medical technology company focused on advancing treatments for patients suffering from thromboembolic disease, a serious medical condition caused by blood clot formation inside veins and arteries. Imperative Care was founded with the mission of bringing lifesaving treatments to patients suffering from ischemic stroke and other devastating vascular diseases caused by blood clot formation. The company’s commercially available product portfolio includes the Zoom Stroke System, the Symphony Thrombectomy System and the Prodigy Thrombectomy System. In addition to our commercial products, we are developing the Telos robotic platform*, an endovascular robotic system designed to bring greater precision and standardization to procedures and expand access to lifesaving treatment. Imperative Care is based in Campbell, Calif. https://imperativecare.com.

About Elevage Medical Technologies

Elevage Medical Technologies is a platform established by Patient Square Capital and is dedicated to supporting medical technology companies that can meaningfully improve health outcomes and quality of life for patients. Elevage provides capital along with deep technical, regulatory, and operational expertise to companies ranging from advanced clinical development to commercial acceleration stage. Elevage supports rapidly growing, highly differentiated companies with paradigm shifting technologies and strives to help build industry leading medical technologies. To learn more about Elevage, please visit www.elevagemedical.com.

*Currently in development. Not approved for use or available for sale.

Contacts

Media Contact:
Lara Lingenbrink
Imperative Care, Inc.
858-525-1414
llingenbrink@imperativecare.com

Investor Contact:
Phil Nalbone
Imperative Care, Inc.
pnalbone@imperativecare.com

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