Spirox, Inc. Announces Closing of $45MM Series C Financing
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"In addition to being a long-term capital partner, KKR's experience scaling businesses provides us the opportunity to build for the future and help Spirox achieve the next level of growth," said CEO
Spirox's technology is intended to treat a significant patient population. Each year, more than three million Americans see a physician for symptoms resulting from nasal obstruction and nearly one million procedures are performed to alleviate these symptoms. Standard treatment options include surgery to treat a deviated septum, surgery to reduce the size of the turbinates, and/or surgery to prevent nasal valve collapse. Although treating the nasal valve creates the greatest improvement in airflow for patients suffering from nasal obstruction, the morbidity associated with the current surgical options has resulted in limited use. Spirox aims to remove this barrier with its minimally invasive approach.
"Nasal obstruction is one of the most common complaints among patients who see an ENT physician, and the condition takes an immense toll on patient quality-of-life," said
As part of the transaction,
For KKR, the investment is part of the firm's health care growth equity strategy, which is focused on high-growth companies for which KKR can be a unique partner in helping reach scale. KKR is funding the investment primarily from the balance sheet of
ABOUT SPIROX, INC.
Spirox is a
KKR is a leading global investment firm that manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world‐class people, and driving growth and value creation at the asset level. KKR invests its own capital alongside its partners' capital and brings opportunities to others through its capital markets business. References to KKR's investments may include the activities of its sponsored funds. For additional information about
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