For OrthoPediatrics, Angels Bring More Than Money
Mark Throdahl is very familiar with angel investors. In 2009, his company, Indiana-based OrthoPediatrics, needed capital to help advance and commercialize its orthopedic devices for children. Throdahl approached VisionTech Angels (then Stepstone Partners) and while OrthoPediatrics eventually secured $1.9 million in startup capital, it also got something of priceless value: people.
Throdahl, whose company is on track to generate $40 million in revenue in 2016, says VisionTech’s leadership and investors have had a seminal influence on OrthoPediatrics. “We have three VisionTech Angels on our board of directors; another angel investor who was a CEO of a major company serves in an of counsel role. There’s also a VisionTech Angels chapter in Warsaw that is also a source of support and enthusiasm for what we’re doing. The role angel investors have played in our success can’t be overstated.”
What OrthoPediatrics is doing is changing the way children around the world with skeletal and spine deformities, traumatic or sports-related injuries are treated via orthopedic implants and devices anatomically appropriate for pediatric patients. In the hands of skilled surgeons, the company’s products relieve the pain of children who otherwise had few options.
Since 2006, OrthoPediatrics has developed and received regulatory clearance for 18 surgical systems for trauma, long bone deformity and correction, scoliosis, and sports medicine. The company has established the only global sales and distribution system in pediatric orthopedics, with distribution partners through the United States and 30 international markets. OrthoPediatrics is also a leading supporter of pediatric orthopedic societies and clinical and is considered the innovation leader in pediatric orthopedics.
Angel investors, says Throdahl, have been there every step of the way. “VisionTech stepped up with money and valuable people who shared our belief in our ‘secret sauce’ – changing the lives of children. I would certainly recommend any startup company with vision and a solid business plan to consider engaging with a reputable angel investing group like VisionTech.”
Would you like to learn more about angel investing? VisionTech Partners and VisionTech Angels are hosting our annual E3 Summit, Empowering an Entrepreneurial Ecosystem, on July 13 at the Dallara IndyCar Factory. The E3 Summit kicks off the two-day Innovation Showcase, an event billed as “Indiana’s premier event for “connecting fundable companies with capital sources.” The E3 Summit and The Innovation Showcase are ticketed events. Space is limited so those interested are encouraged to purchase tickets on The Innovation Showcase website.