Successful exit for Innovestor Ventures – Synoste gets acquired by Globus Medical

Innovestor Ventures exists Synoste, a Finnish startup that has developed high technology implants for minimally invasive bone lengthening treatment. In addition to Innovestor, Synoste had received investment from High-Tech Gruenderfonds (HTGF), Evonik Venture Capital, Lifeline Ventures, AOL Foundation and angels. Globus Medical acquired Synoste in Q2/2020 for $23.5 million. 

Kickstarting the third generation Limb Lengthening system, Synoste’s unique implants lengthen the bone gradually over a period of months, offering improved outcomes and experiences for patients and surgeons alike.   

Synoste was founded by Harri Hallila, Antti Ritvanen and Juha Haaja, with a shared vision and the know-how needed to bring about third generation limb lengthening systems.  

 “It has been a pleasure working and watching such a driven and ambitious team progress and grow throughout the ups and downs that startups face. Synoste has chosen a great partner in Globus Medical to continue their journey enabling them to take their technology to the next global level” commented Innovestor Venture’s Partner Petri Laine.  

Globus Medical is a leading medical device manufacturer based in Pennsylvania, USA that develops, manufactures, and distributes musculoskeletal device solutions.  

 

For more information  

Petri Laine

Partner, Innovestor Ventures

petri.laine(a)innovestor.fi

+358 400 909 447

About Innovestor 

Innovestor is a Nordic early-stage venture capital investor, who also operates as a direct co-investment syndicator and growth program builder. Currently the firm manages one of the largest private venture-backed portfolios in the Nordics, consisting of over 100 high-tech companies in multiple fields of technology.  Their aim is to be the best home for future new Nordic success stories. At its core, they boost the success and growth of portfolio companies by giving access to capital, know-how, and networks by utilizing their unique ecosystem of co-investors and partners.

Image by Synoste