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Private Equity
HEALTHCARE | Medical Devices & Equipment / Prosthetics
healthpointcapital.com

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Investments

12

Portfolio Exits

6

Funds

5

About HealthpointCapital

HealthpointCapital is a private equity firm specializing in middle market, mature, buyout, and growth capital investments. The firm invests in the musculoskeletal sector with a focus on the orthopedics and dental companies.

HealthpointCapital Headquarter Location

505 Park Avenue 12th Floor

New York, New York, 10022-9318,

United States

212-935-7780

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Latest HealthpointCapital News

10:17 ET HealthpointCapital Announces the Successful Sale of CrossRoads Extremity Systems to DePuy Synthes, The Orthopaedics Com...

Feb 10, 2022

News provided by Share this article Share this article NEW YORK and MEMPHIS, Tenn., Feb. 10, 2022 /PRNewswire/ -- HealthpointCapital Management LLC ("HealthpointCapital") is pleased to announce it has completed the sale of CrossRoads Extremity Systems ("CrossRoads, or the "Company") to DePuy Synthes, The Orthopaedics Company of Johnson & Johnson. The transaction marks the first exit for HealthpointCapital's Musculoskeletal Fund. HealthpointCapital acquired a majority stake in CrossRoads in May 2019 and proceeded to further the Company's position as the innovation leader in its segment. CrossRoads, founded in 2014 and headquartered in Memphis, TN, is a pure-play, innovative designer and manufacturer of procedure-specific, sterile-packed implants and instruments for elective foot and ankle surgery. Under HealthpointCapital's ownership, CrossRoads also successfully broadened the Company's product portfolio with the asset acquisitions of First Ray LLC, Kator LLC and Mortise Medical LLC. These acquisitions added complementary product offerings and substantial intellectual property. "Foot and Ankle surgery is a high growth sector in Orthopedics and the leading companies are searching for compelling, differentiated innovation," said HealthpointCapital President Mike Mogul. "We worked together with the excellent CrossRoads team, supported a massive increase in product launch velocity including acquisitions and significant development of the sales and marketing organizations as they created that compelling opportunity." The Company's comprehensive portfolio is centered on differentiated products for foot surgery with proven benefits such as dynaBunion4D®, miniBunion3D® and DynaForce™ Staple Compression Plates. These "breakthrough technologies for faster healing" deliver improved operating room experience, simplicity and accuracy for the surgeon and better patient outcomes. In addition, CrossRoads' high-quality, reusable instrumentation and unique EcoSMART® instrument management program promotes efficient inventory management and improved economics for healthcare facilities. CrossRoads is led by co-founder and CEO Vernon Hartdegen and co-founder and VP of R&D Chad Hollis. Both will join DePuy Synthes. John H. Foster, HealthpointCapital CEO and Founder, said, "Our investment in CrossRoads is a great example of the HealthpointCapital thesis for building differentiated, high-performing musculoskeletal companies that can become cornerstone acquisitions for the large medtech strategics. The Company's exceptional execution of our strategic roadmap, financial plan and organizational design created a fast-growing foot and ankle industry leader. We are proud to have played a role in the Company's tremendous growth. Many thanks to the entire CrossRoads team for their contributions and successes." HealthpointCapital partners Mike Mogul, John Foster and Milen Todorov actively participated on the CrossRoads Board of Directors. "As a long-term investor in CrossRoads, we chose to partner with HealthpointCapital to help realize the value that the CrossRoads team was creating," said Gary Stevenson, Co-Founder and Managing Partner of MB Venture Partners, "Through supporting and funding rapid product and market development including a key acquisition, the team was able to realize their full potential in creating one of the most exciting small companies in orthopedics." Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. acted as legal advisor and Morgan Stanley & Co. LLC served as exclusive financial advisor to CrossRoads. About HealthpointCapital Management LLC: HealthpointCapital, founded in 2002, is the leading private equity firm focused exclusively on the musculoskeletal sector. The Firm is led by CEO and founder John H. Foster and President Mike Mogul, former Group President at Stryker Corporation and former CEO of DJO Global, a former Blackstone portfolio company. HealthpointCapital brings together extensive medical device operating experience, a strong private equity track record, and an extensive network of clinical, distributor and strategic company relationships to help portfolio companies accelerate growth. Notable recent exits for HealthpointCapital include OrthoSpace (acquired by Stryker), Blue Belt Technologies (acquired by Smith & Nephew), and BioHorizons (acquired by Henry Schein). For more information, visit www.healthpointcapital.com . For investor or media inquiries, please contact Tessa Cicitta, HealthpointCapital, 212-935-7780 or [email protected] SOURCE HealthpointCapital Management LLC

HealthpointCapital Investments

12 Investments

HealthpointCapital has made 12 investments. Their latest investment was in CrossRoads Extremity Systems as part of their Unattributed VC on July 7, 2021.

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HealthpointCapital Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

7/6/2021

Unattributed VC

CrossRoads Extremity Systems

$3.74M

No

3

12/5/2019

Private Equity

CrossRoads Extremity Systems

$7.35M

Yes

1

2/4/2019

Private Equity - II

ProSomnus Sleep Technologies

$3.5M

No

2

5/12/2017

Private Equity

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$99M

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10

12/1/2016

Series B

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$99M

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10

Date

7/6/2021

12/5/2019

2/4/2019

5/12/2017

12/1/2016

Round

Unattributed VC

Private Equity

Private Equity - II

Private Equity

Series B

Company

CrossRoads Extremity Systems

CrossRoads Extremity Systems

ProSomnus Sleep Technologies

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Amount

$3.74M

$7.35M

$3.5M

$99M

$99M

New?

No

Yes

No

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Co-Investors

Sources

3

1

2

10

10

HealthpointCapital Portfolio Exits

6 Portfolio Exits

HealthpointCapital has 6 portfolio exits. Their latest portfolio exit was ProSomnus Sleep Technologies on May 10, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

5/10/2022

Acq - Pending

$99M

1

2/10/2022

Acquired

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10

3/14/2019

Acquired

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$99M

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10

10/27/2016

Acquired

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10

1/5/2016

Acquired

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$99M

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10

Date

5/10/2022

2/10/2022

3/14/2019

10/27/2016

1/5/2016

Exit

Acq - Pending

Acquired

Acquired

Acquired

Acquired

Companies

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Valuation

$99M

$99M

$99M

Acquirer

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Sources

1

10

10

10

10

HealthpointCapital Acquisitions

10 Acquisitions

HealthpointCapital acquired 10 companies. Their latest acquisition was IlluminOss Medical on May 01, 2020.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

5/1/2020

Other Venture Capital

$99M

$62.49M

Acq - Fin

5

5/14/2019

Debt

$99M

$31.8M

Acq - Fin

2

12/7/2011

Debt

$99M

$42.7M

Acq - Fin

6/23/2011

Debt

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$99M

$99M

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10

4/15/2008

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$99M

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10

Date

5/1/2020

5/14/2019

12/7/2011

6/23/2011

4/15/2008

Investment Stage

Other Venture Capital

Debt

Debt

Debt

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

$62.49M

$31.8M

$42.7M

$99M

Note

Acq - Fin

Acq - Fin

Acq - Fin

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Sources

5

2

10

10

HealthpointCapital Fund History

5 Fund Histories

HealthpointCapital has 5 funds, including HealthpointCapital Partners IV.

Closing Date

Fund

Fund Type

Status

Amount

Sources

10/22/2019

HealthpointCapital Partners IV

Industry Focused

Open

$100M

1

10/9/2018

The Musculoskeletal Fund IV

$99M

10

10/7/2008

HealthpointCapital Partners III LP

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$99M

10

6/15/2007

HealthpointCapital Partners II LP

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$99M

10

12/31/2004

HealthpointCapital Partners LP

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$99M

10

Closing Date

10/22/2019

10/9/2018

10/7/2008

6/15/2007

12/31/2004

Fund

HealthpointCapital Partners IV

The Musculoskeletal Fund IV

HealthpointCapital Partners III LP

HealthpointCapital Partners II LP

HealthpointCapital Partners LP

Fund Type

Industry Focused

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Status

Open

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Amount

$100M

$99M

$99M

$99M

$99M

Sources

1

10

10

10

10

HealthpointCapital Team

11 Team Members

HealthpointCapital has 11 team members, including current Founder, Chief Executive Officer, President, Mortimer Berkowitz III.

Name

Work History

Title

Status

Mortimer Berkowitz III

Founder, Chief Executive Officer, President

Current

Mike Mogul

President

Current

William Johnson

Chief Financial Officer

Current

Laing F. Rikkers

MicroDental Laboratories, Walt Disney Enterprises, and Hess

Managing Director

Current

Milen Todorov

Managing Director

Current

Name

Mortimer Berkowitz III

Mike Mogul

William Johnson

Laing F. Rikkers

Milen Todorov

Work History

MicroDental Laboratories, Walt Disney Enterprises, and Hess

Title

Founder, Chief Executive Officer, President

President

Chief Financial Officer

Managing Director

Managing Director

Status

Current

Current

Current

Current

Current

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