Voom Medical Devices, a leader in minimally invasive orthopedic solutions, today announced the successful closing of a $30 million capital raise through a combination of debt and Series B equity financing. The debt capital raise was structured as a tranche term loan with accompanying warrants led by Avenue Venture Opportunities Fund, L.P., a fund of Avenue Capital Group.
The financing will accelerate Voom’s commercialization efforts while supporting the continued development of its expanding MIS portfolio for next-generation surgical technologies and techniques. At the forefront is the Company’s groundbreaking Bunionplasty® 360 Repair™ Procedure, featuring the industry’s first and only Single-Screw™ solution—the Revcon™ Anchor – combined with the Company’s patented & patent-pending surgical techniques.
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Since the Company’s initial market launch in May 2023, Voom has transformed bunion correction surgery by delivering a walking recovery, less pain, fewer complications and improved patient outcomes when compared to traditional surgery. Recently the Company announced its new single-use sterile Revcon™ Screw System featuring the innovative MIBS CoPilot™ Shift + Targeting Guide.
This new system and sterile surgical kit are a major leap forward in a market long overdue for patient innovation, supply chain improvements and customer operating room efficiencies.
Dr. Neal Blitz, CEO of Voom, said, “At Voom, we are also committed to redefining the standard of care in bunion surgery by delivering faster recovery times, fewer complications, and better outcomes for patients. This capital infusion enables us to accelerate the nationwide expansion of our Bunionplasty® platform, train more surgeons, and extend the reach of our life-changing innovations. Backed by growing clinical evidence and increasing market demand for our technologies, Voom is positioned to lead today’s $5 billion U.S. bunion surgery market with a new era of minimally invasive orthopedic care—one where patients and surgeons can expect better solutions and better results.”
Duncan Seay, CFO & COO of Voom, adds, “We are thrilled to partner with Avenue Capital Group, a top-tier institutional financier with deep expertise in scaling high-growth companies. This debt and equity financing not only provides the growth capital necessary to expand our surgeon training program to over 1,000 Bunionplasty® surgeons nationwide, but also serves as strong validation of our innovative solutions and strategic vision. With Avenue’s partnership and support, and the backing of other key investors, we are well-positioned to accelerate our commercial momentum, drive year-over-year 3x growth, broaden market adoption, and deliver exceptional value to patients, surgeons, and stakeholders alike.”
Chad Norman, Senior Portfolio Manager of Avenue Capital Group, said, “We are excited to partner with Voom Medical Devices as they bring meaningful innovation to an area of orthopedics that has seen limited progress for decades. Their platform is redefining how bunion surgery is done — and, more importantly, how patients recover. We are proud to be backing a team that is setting a new standard for minimally invasive innovation.”
