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Turbett Surgical Inc. has received a recapitalization and growth investment from J.P. Morgan Life Sciences Private Capital. Details of the medical equipment company’s inaugural institutional investment were not disclosed.
As its name suggests, Turbett Surgical focuses on increasing operating room efficiency. It manufactures sterilization pods and consumable filters. Turbett Surgical’s Instrument Pod provides hospitals and ambulatory surgery centers with a sterilization system that reduces surgical paper waste and saves staff time during OR prep.
Proceeds from the J.P. Morgan financing will provide working capital to fuel further product innovation and help the company scale its commercial team to meet overwhelming customer demand for the Instrument Pod solution, the company says.
“Our team is thrilled to partner with Turbett on their mission to accelerate growth, and bring this eco-friendly and labor-sparing solution to more hospital and ASC customers,” says Joe Siletto, managing partner at J.P. Morgan Life Sciences Private Capital. “Every year, tons of medical waste are generated by the antiquated ‘blue wrap’ method of surgical tray preparation for sterilization. The Instrument Pod solution eliminates the need for blue wrap while saving customers valuable staff time in preparing trays for surgeries.”
Rob Turbett, who started the Henrietta-based company with Rick Richmond, says the capital will extend its reach. Founded in 2013, Turbett Surgical is a graduate of Venture Creations, Rochester Institute of Technology’s business incubator. It employs nearly 30 people today.
“The investment from J.P. Morgan Life Sciences Private Capital is a wonderful evolutionary step for Turbett Surgical, allowing us to accelerate our mission of increasing surgical efficiency,” he says.
Rochester Beacon publisher Alex Zapesochny is chair of Turbett Surgical.
Smriti Jacob is Rochester Beacon managing editor.
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