WARSAW – WishBone Medical, a Warsaw-based firm specializing in pediatric orthopedic medical devices, announced Thursday, Dec. 1, a change in leadership and a new infusion of financial support.
Dr. Mark Figgie was named Interim Chief Executive Officer, the company announced in a news release.
The latest funding comes from LKCM Headwater Investments, the private equity arm of Luther King Capital Management with approximately $22 billion in assets.
These strategic changes will fuel the commercialization of WishBone’s existing portfolio while supporting new product development and sustaining its mission to raise surgical standards for children, the company said.
“At a time of uncertainty in our capital markets, our team at LKCM Headwater and WishBone’s Board of Directors have worked diligently to secure the means necessary to support the company’s objectives and continue this rewarding mission,” says Michael D. Bornitz of LKCM Headwater and WishBone board member.
With Figgie serving as interim CEO, WishBone cofounders Nick Deeter and Mary Wetzel are stepping away from their positions as CEO and President and moving into consulting roles to assist in business development, healthcare partnerships, and identification of new technology ventures.
“I am honored to take the helm of WishBone Medical and help make a meaningful impact through leadership and innovation—building upon my extensive network within the orthopedic community to produce novel solutions that promote OR efficiency and improve outcomes for our young patients,” Figgie said.