Patient Square Capital, a healthcare investment firm based in Menlo Park, California, has announced the creation of a new portfolio company called Elevage Medical Technologies. This new company will provide financial and strategic growth support to a wide range of medical device technology companies that are on the brink of transforming healthcare by developing cutting-edge devices that enhance health outcomes and quality of life for patients.
Elevage Medical Technologies will be headed by Evan Melrose, M.D., who has more than 25 years of experience in the healthcare industry, having worked in clinical, investment, and operational roles. Patient Square has made a $300 million capital commitment to Elevage, which aims to support medtech companies that can significantly improve health outcomes and patient quality of life through capital investment and strategic operational support.
According to Jim Momtazee, Managing Partner of Patient Square, numerous medical technologies that have been in development for a decade or more are now poised to make a substantial impact on patient lives. He believes that partnering with Evan and creating Elevage will allow the firm to step aggressively into the funding void, positioning a range of product launches for success.
Elevage Medical Technologies is dedicated to helping growth-stage medical device companies improve health outcomes and quality of life for patients by accelerating innovation in the medical technology space through capital investment and strategic operational support. The company will work with promising medical device companies by providing deep strategic expertise and capital to enhance their approval and commercialization process.
Patient Square Capital is a healthcare-focused investment firm with more than $5.9 billion in assets under management as of January 31, 2023. The firm partners with best-in-class management teams who are developing products, services, and technologies that enhance health. Patient Square brings to the table deep industry expertise, a broad network of relationships, and a partnership approach to make investments in companies grow and thrive. Patient Square invests in businesses that aim to improve patient lives, strengthen communities, and create a healthier world.
Overall the formation of Elevage Medical Technologies by Patient Square Capital aims to partner with growth-stage medical device companies to support their growth by providing financial and strategic support. Elevage will be dedicated to supporting medical device companies that can significantly enhance health outcomes and quality of life for patients through their innovative products and services. The creation of Elevage by Patient Square Capital shows the firm's commitment to investing in businesses that strive to improve patient lives, strengthen communities, and create a healthier world.