Imperative Care announced the initial close of an oversubscribed Series E financing and appointed Shacey Petrovic to vice chair of its board of directors.
The Campbell, California-based stroke treatment company is expected to raise up to $150 million in a financing round led by Ally Bridge Group. Existing investors, including D1 Capital Partners, Amed Ventures, Bain Capital Life Sciences, Rock Springs Capital Management LP, Innovatus Capital Partners, and Pura Vida Investments, also contributed.
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“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,” Chair and CEO Fred Khosravi said in a news release. “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.”
After the initial closing and subject to the discretion of Imperative Care, there may be additional closings of this Series E financing with up to $150 million raised in total.
“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,” Ally Bridge founder and CEO Frank Yu said. “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.”
