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Orthocare Innovations Announces Strategic Investment

February 01, 2010

News Release

Oklahoma City, OK, February 1, 2010  Orthocare Innovations, LLC is pleased to announce that it has completed a significant equity investment with Schooner Capital LLC, a Boston-based private investment group. The collaboration between Orthocare Innovations' executive leadership and Schooner, and the resulting investment in the company, was made in support of the commercial launch of Orthocare Innovations' extensive new product pipeline. 

Orthocare Innovations' President and Chief Executive Officer Doug McCormack commented, "We are fortunate to have developed this partnership with the team at Schooner Capital. At Orthocare Innovations we have built a world-class R&D capability and forged global research partnerships to commercialize technologies that will have a transformative effect on the O&P market. Schooner's long-term growth investment philosophy supports our approach to innovation, and will accelerate our ability to enhance patient care and improve clinical outcomes."

"Improved patient outcomes. That's what we see here," commented Peter Binas, a Managing Director at Schooner. "Orthocare Innovations brings not only a unique mix of talent and technologies, but also a deep commitment to delivering measurable patient benefits across the prosthetics and orthotics fields. When a team of this talent and energy turns its attention to transforming cutting-edge research into practical solutions for patients, good things happen. We are all very excited at the opportunity to work with Doug, David and the team."

Through this investment, Orthocare Innovations' founders and executive management will retain significant equity interests in the company, as well as board representation by McCormack, Chief Technology Officer David Boone, CP, MPH, Ph.D. and Chief Operating Officer Doug Wallace. Terms of the transaction were not disclosed.