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Quantum OPS Completes $1.05M In Series A Financing To Advance Surgical Devices

Thu, 06/28/2012 - 10:28am
The Associated Press

Quantum OPS, INC., the orthopedic technology company for today's sophisticated operating suite professionals, announced the closing of a $1.05M Series A financing round. The round was led by the Pittsburgh Life Science Greenhouse (PLSG) and the PLSG Accelerator Fund with additional funding from multiple institutional and angel investors. Invested capital will accelerate sales of Quantum OPS first product, the Quantum Shoulder Positioning System, which enables clinicians to easily immobilize, stabilize, and position patients of all sizes for shoulder surgery. It will also hasten the launch of new products.

Quantum OPS current development pipeline includes a surgical arm positioner, an arthroscopic knee positioner, and other positioning accessories.

"Today's orthopedic patients are larger, budgets are smaller, and expectations are higher," said Keith Harper, CEO of Quantum OPS. "This is an exciting time for Quantum OPS. Our shoulder positioner is just the beginning. This financing will allow us to plan for and launch another generation of products. This will position us to fulfill more unmet clinical needs for our customers and reward our investors with profitable growth." Quantum OPS provides 21st century simple and efficient clinical solutions to meet the rapidly evolving needs of today's orthopedic surgical suite. Functionality across all patient types, stability, ease, and speed of use are the foundation of Quantum OPS design philosophy. The Quantum Shoulder Positioning System was released to select accounts in January, 2012, and will be available nationwide later this summer. The Positioner features both single-use disposable and re-usable elements.

"Quantum OPS has a superior technology and a team with the vision and ability to deliver on a huge opportunity.  We and our investment partners look forward to the continued growth and success of this promising portfolio company," said John W. Manzetti, PLSG President & CEO and Founder and Managing Director of the PLSG Accelerator Fund.

About Quantum OPS  QuantumOPS is an orthopedic technology company for today's sophisticated operating suite professionals. Our products combine ingenuity and 21st century technology designed to deliver superior clinical outcome for patients, surgeons, nurses and anesthesiologists everywhere. We involve the user in every step of the design process from conception to completion to deliverable goods.

Quantum OPS prides itself on its exceptional agility and responsiveness to market need. www.quantumops.com About the Pittsburgh Life Sciences Greenhouse (PLSG)  PLSGinvests in and supports the growth of biosciences companies in western Pennsylvania. PLSG has a track record of excellence when it comes to attracting and growing life sciences companies in the region. Since its inception in 2002, the PLSG has invested $17.6 million in 66 companies which has leveraged $730 million in additional capital to the region. The PLSG portfolio of companies represents an aggregate market valuation which the PLSG believes it conservatively estimates as over $1 billion. The PLSG has assisted 373 life sciences companies and has helped create or retain nearly 6,000 jobs in western Pennsylvania. In addition, 34 companies or venture capital firms have been provided with office or laboratory space and 13 have been relocated to Pittsburgh from outside of the region. www.plsg.com About The PLSG Accelerator Fund LLC The PLSG Accelerator Fund I, the for-profit venture capital arm of the Pittsburgh Life Sciences Greenhouse,  provides regional life sciences companies with venture capital financing, which is the next step beyond capital provided by economic development organizations; friends and family; and angel investors. As the only pure life sciences venture capital fund in the region, the Accelerator Fund is building a portfolio of early-stage life sciences investments, primarily located in western Pennsylvania and spread across several life sciences sectors including medical devices, diagnostics, therapeutics, healthcare information technology and biotechnology tools. www.acceleratorfund.com SOURCE Quantum OPS -0- 06/28/2012 /CONTACT: Lynn M. Brusco, Pittsburgh Life Sciences Greenhouse, +1-412-480-2835, lbrusco@plsg.com, or Keith Harper, President & CEO, Quantum OPS, +1-412-999-2375, keith@quantumops.com /Web Site: http://www.quantumops.com CO: Quantum OPS; Pittsburgh Life Science Greenhouse (PLSG) ST: Pennsylvania IN: HEA MTC FIN MEQ SU: FNC PRN -- NE32567 -- 0000 06/28/2012 14:28:10 EDT http://www.prnewswire.c

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