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Healthcare

After raising $260M, Imperative Care looks to build portfolio of stroke-care companies

Imperative Care acquired Truvic, a company making a device to treat peripheral vascular disease. From left to right: Truvic CEO Mike Buck, Imperative Care CEO Fred Khosravi. Photo credit: Imperative Care

Thanks to a fresh infusion of funding, a startup with two cleared devices for stroke treatment is planning to build out a broader suite of technologies. Imperative Care recently raised $260 million in a funding round led by D1 Capital Partners, and used a portion of the funds to acquire Truvic, a startup making a device to remove blood clots from the arms or the legs.

Imperative Care was co-founded in 2015 by Fred Khosravi, a managing partner at a medtech incubator, and Dr. Nick Hopkins, a neurosurgeon who pioneered a minimally invasive way to treat strokes. Some patients are eligible for a thrombectomy, a minimally invasive procedure where a blood clot is surgically removed.

The Campbell, Calif.-based company currently has two devices that are cleared by the Food and Drug Administration: a catheter used for a surgeon navigate the blood vessels of the brain, and a group of devices intended to remove a clot during an ischemic stroke when a patient isn’t eligible to receive“clot-busting” drugs.

Now, with its recent acquisition, Imperative Care plans to develop a broader range of technologies to treat stroke and vascular disease. To start, it plans to further develop and commercialize Truvic’s technology. The company will remain a wholly owned subsidiary of Imperative, and will keep its leadership and brand.

“In addition to our initial focus in the field of stroke, we see natural areas of synergy across unmet patient needs, and we are committed to accelerating those paths to commercialization,” Khosravi said in a news release.  “To achieve that objective, and beginning with Truvic, we are creating a network of wholly owned subsidiaries that will leverage synergies where appropriate while at the same time giving the development programs the independence, specialization, and focus they need to bring important vascular intervention products to the market to meet patient needs as rapidly as possible.”

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