Distalmotion, a Lausanne, Switzerland-based medtech company, secured a senior secured term loan facility of up to $70 million from Perceptive Advisors to expand its Dexter robotic surgery system across U.S. ambulatory surgery centers.
Distalmotion will use the capital to expand its presence in the U.S. ASC market and continue developing Dexter and its instrument portfolio, according to an Oct. 21 news release.
Dexter targets ASCs that want to add robotic surgery without the space and infrastructure demands of traditional platforms. The system has a small, mobile footprint, fits into operating rooms of any size without modifications and uses single-use instruments that eliminate the need for sterile processing.
In the U.S., Dexter is cleared for the four highest-volume soft tissue outpatient procedures: cholecystectomy, inguinal hernia repair, ventral hernia repair and hysterectomy. Distalmotion completed that core portfolio in August with FDA 510(k) clearance for ventral hernia repair.
Sam Chawla, portfolio manager at Perceptive, said Dexter is “purpose-built for the ongoing shift of high-volume surgery to the ASC.”
Distalmotion CEO Greg Roche said the loan gives the company more capital to accelerate its U.S. growth strategy, strengthen its commercial presence and continue refining Dexter for ASC patients, surgeons and administrators.
Distalmotion has a U.S. office in Cleveland and sells Dexter in the U.S. and Europe to hospital outpatient departments and ASCs.
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