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
CAMPBELL, Calif.–(BUSINESS WIRE)–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.
Contacts
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
