Accelus Secures New Financing for Product Innovation

Accelus has closed a new equity financing round led by Concord Health Partners to support its commercial growth and develop differentiated spinal implant solutions.

“The continued support from our partners through this latest equity financing round reinforces our long-term vision to bring meaningful innovation to spine care and expand access to minimally invasive solutions for both surgeons and patients,” Accelus President/CEO Kevin McGann said. “We are now well positioned to deepen our U.S. market presence and invest in future pipeline innovations that meet the real-world needs of spine surgeons across care settings.”

In conjunction with the financing, Accelus appointed industry veteran Bernie Haffey as board chairman. An Accelus board member since February 2024, Haffey has more than 20 years of medtech and healthcare sector experience and will help oversee the company’s next phase of growth.

Haffey founded and is president of Haffey&Co, a strategic business management consultancy firm that partners with organizations to optimize performance and execute strategic goals. He previously served as president and CEO of two successful medtech venture-backed start-ups—Nexis Vision Inc. and NDO Surgical. He also held executive management roles at Summit Technology, IntraLase Corp., Mentor Corp., and in Hewlett Packard’s Medical Products Group.

Accelus’s product portfolio includes the FlareHawk Interbody Fusion System featuring Adaptive Geometry technology, LineSider Spinal System with modular-cortical screws, and Toro-L Interbody Fusion System. The company’s implants and instruments support various minimally invasive techniques suitable for both hospital and ambulatory surgery center (ASC) environments, and aim to preserve patient anatomy, enhance procedural efficiency, and promote long-term spinal stability.

With more than 32,000 cages implanted in 25 countries, Accelus claims it has a strong foundation for growth by delivering scalable, surgeon-driven technologies that challenge traditional limitations in spine surgery. The additional funding will enable the company to expand its reach and continue building momentum as it expands its FlareHawk and Toro portfolios.

“I am delighted to take this new role as chairman of the Accelus board at an important time in the company’s evolution,” Haffey stated. “I look forward to working with Kevin and the rest of the Accelus team to help drive continued growth and advance the company’s ongoing commitment to building on its best-in-class product offering and stellar reputation.”

Accelus develops and commercializes expandable spinal implant technology. Its advanced Adaptive Geometry technologies are specifically designed for transforaminal lumbar interbody fusion (TLIF), posterior lumbar interbody fusion (PLIF), endoscopic-assisted, percutaneous, and lateral spine surgeries.

Concord Health Partners is a healthcare-focused investment firm with a strategic model that optimizes the alignment of interests between investors and portfolio companies. Concord has developed a broad network of strategic relationships that contribute expertise and resources and serve as potential commercial partners to portfolio companies. Concord is primarily focused on investing in healthcare companies that can potentially enhance the value of care through technologies and solutions that lower costs, improve quality, and expand access to care.