Multiple principals of Towson, Md.-based SurgCenter Development were lead investors in biologics company Mesoblast's private placement of $110 million in early March.
After the investment, Philip Facchina, chief strategy officer of SurgCenter Development, joined Mesoblast's board. Mr. Facchina will bring his experience overseeing SurgCenter Development's strategic relationships in the ASC market to Mesoblast's board.
"My fellow principals at SurgCenter and I are very excited about the future potential for Mesoblast across the breadth of its platform technology, from chronic heart failure and inflammatory bowel disease to the potential treatment for chronic low back pain," said Mr. Facchina in a March 29 news release.
Mesoblast develops allogeneic cellular medicines to treat severe inflammatory conditions. It has a proprietary mesenchymal lineage cell therapy technology developed to reduce damaging inflammation.
SurgCenter Development has about 225 orthopedic- and spine-focused ASCs and is partnered with thousands of physicians across the U.S.