RALEIGH — According to a September 26th SEC filing, QuadVantage, a North Carolina company offering novel solutions for anterior cruciate ligament (ACL) reconstruction, has raised more than $1.4 million. The filing references 15 investors.
QuadVantage was created to address ACL reconstruction needs identified by founder and Chief Medical Officer, Dr. Paul Burroughs, MD. The technology, which according to the website includes 4 patents, simplifies the harvesting of the quadriceps tendon, which enables a better graft with a smaller scar at a lower cost. Recent posts on LinkedIn indicate that the company is working on developing a distribution network for its products.
ACL injuries are among the most severe types of knee injuries and commonly require surgery. According to various sources, there are between 60,000 and 200,000 ACL injuries in the United States each year.
Quadvantage last made headlines with a partnership with Lovell Government Services in March of this year. The partnership made possible the use of the Quadvantage technology for federal healthcare providers including the Department of Veterans Affairs and Defense Logistics Agency.
QuadVantage Technology, Inc. was incorporated in 2018 and reported $25,000 in debt funding that year. The company has not raised since then.