Grand Rapids, Mich., March 6, 2023 — Shoulder Innovations Inc. (SI), a Grand Rapids, Michigan based leader in the shoulder replacement implant market, announced closing on an oversubscribed $42 million Series D financing. SI is a privately-held medical device company with a broad team of successful innovators in the shoulder space.
The financing was led by Gilde Healthcare Partners, a specialized trans-Atlantic healthcare investor. US Venture Partners, Lightstone Ventures, and the cultivate (MD) Accelerator Capital fund returned as existing investors alongside new investors that include Gilmartin Capital and Aperture Venture Partners. The additional resources enable SI to accelerate the expansion of their commercial and distribution operations, responding to the widespread interest in its product platform.