Medical Devices
Maximising an attractive australian R&D landscape to commercialise the most promising advances in medical technology
M.H. Carnegie is targeting attractive medical device opportunities at the intersection of Australian innovation and the US distressed medical device market. We have a demonstrated track record of investing in cutting edge innovations in the sector and are looking to build on this success. We believe that Australia has a true competitive advantage in medical devices being a proven leader in the industry combined with a strong healthcare system and a strongly favourable tax environment to carry out research and development.
Our medical device platform is managed by a highly experienced leadership team led by Australian-based Mark Carnegie, who has over 30 years of experience as a global entrepreneur, investor and corporate adviser and US-based Trevor Moody, who has over 25 years of experience as an investor and operator in the medical technology industry.
| Case Study | |
|---|---|
| Company | Simplify Medical |
| Date of Investment | December 2014 |
| Investment Status | Exited – Acquired by NuVasive Inc. (NASDAQ: NUVA) February 2021 |
| Deal Summary | Simplify Medical developed an implantable cervical disc replacement to treat patients with degenerative disc disease of the spine. The Simplify Disc is a best-in-class cervical disc replacement designed to preserve natural motion and is the only cervical disc replacement designed to allow the full diagnostic imaging capability of MRI. This important feature eliminates the need for CT scans and reduces patient radiation exposure. The Simplify Disc received FDA approval for a 1-level indication in 2020. The disc demonstrated superiority to fusion in its US 1-level IDE trial. The device has been evaluated in a separate 2-level IDE trial and is pending FDA approval. It also has Australian TGA approval and is CE Mark approved in Europe. |
| Carnegie Value Add |
M.H. Carnegie lead the recapitalisation of Simplify Medical in 2014 and were instrumental in strategy, financing, corporate governance since then. Mark Carnegie and Trevor Moody were members of the Simplify board of directors |
Portfolio companies
