Wilson Sonsini Repesents Revival in Distalmotion’s $90 Million Series E
- Client Highlights
- Life Sciences
- Medical Devices
On January 26, 2022, Distalmotion announced the closing of a $90 million Series E financing (structured as a secured convertible loan) to support the global commercialization of its surgical robot Dexter. Revival Healthcare Capital (Revival) led the round with participation from 415 CAPITAL (415), as well as existing investors. The investment follows the successful completion of Dexter’s first clinical cases and aims to accelerate the Swiss company’s commercial scaling. Leading European hospitals are spearheading the development of procedure guidelines and training protocols for robotic surgery with Dexter as part of clinical studies and an Early Adopter Program (EAP). The company will also work closely with the U.S Food and Drug Administration (FDA) on a U.S. submission supported by the financing. In addition to financial backing, Revival will contribute hands-on leadership as the company gears up for growth: Revival chairman Rick Anderson will join the Distalmotion board as chairman, while Revival president Lauren Forshey will join as an observer.
Wilson Sonsini Goodrich & Rosati represented Revival in the transaction. The team includes:
Baer & Karrer acted as Swiss co-counsel to Revival in the transaction.
For more information, please see Distalmotion’s press release.