#Momentum Drivers

MedTech Company, PainTEQ, Raises $35M Capital Infusion 


A momentous feat has been achieved by PainTEQ, a Tampa-based innovator in medical devices, as it secures a substantial $35 million capital infusion for its revolutionary posterior sacroiliac (SI) joint fusion procedures. This financial boost emanates from the esteemed New York-based equity group MVolution Partners (MVP), which has generously extended non-dilutive growth financing to propel PainTEQ’s promising trajectory.  

Sean LaNeve, the CEO of PainTEQ, exudes excitement in the wake of this partnership, affirming the commendable strength and potential that PainTEQ’s business embodies. 

The hallmark of MVolution Partners lies in its specialization in delivering growth investments to prominent American and European companies, especially those fortified with remarkable intellectual property assets. This strategic funding is poised to invigorate PainTEQ’s progress, ushering in a transformative journey to enhance the quality of life for those afflicted with SI joint pain. 

The infusion of capital is tactfully earmarked for steering the commercialization of PainTEQ’s primary patented masterpiece – LinQ, an innovative SI joint stabilization system designed for implantation. In addition, the funding provides indispensable support to the relentless research and development pursuits of the adept PainTEQ team. The inception of LinQ stems from an inspirational source: the chronically suffering SI pain endured by Robert Faxon, the father of a dedicated PainTEQ employee, instigated a vision to create a minimally invasive panacea for not only Faxon but for countless others grappling with persistent agony. 

Mike Weinmann, the distinguished founding partner at MVolution Partners, commendably lauds the transformative abilities of LinQ, ensuring positive patient outcomes through a seamless, highly efficient, and impeccably safe therapeutic intervention. The financing backed by intellectual property assets signifies the collective determination of PainTEQ to fulfill its far-reaching mission, a mission that aims to bring respite to multitudes of patients grappling with the woes of SI joint pain and dysfunction. 

In 2020, PainTEQ left an indelible mark on the medical technology landscape when it erected its headquarters in Tampa’s thriving Westshore area and concurrently established an essential distribution center in North Tampa. Such bold strides culminated in PainTEQ’s laudable recognition as one of the distinguished entities featured on Inc.’s 5000 list – a prestigious compilation that aptly acknowledges the fastest-growing privately held companies across the vast expanse of America. 

By Javier Perez

Chief Strategic Advisor of The MedTech Digest and Director at BlackPoint Capital