ReGear Life Sciences Closes $2.5 Million in Series A Financing Following $1M Investment by Stonewood Capital Management, Inc.
“Given the current condition of the financial markets and the economy we are fortunate to have been able to attract such a great group of angel investors and close out the round with an investor as respected as Stonewood,” said
ReGear received its early financial backing from the Pittsburgh Life Sciences Greenhouse and Innovation Works, opened the A round in July of 2008, and began realizing revenue late in the fourth quarter of 2008.
The funds will be used to drive growth and further expansion into the global sports medicine, physical medicine, rehabilitation, and chiropractic markets, and develop products for the home care markets. ReBound is rapidly gaining acceptance and is currently under evaluation by many major professional sports, physical therapy and rehabilitation organizations. ReBound is also being distributed by Game Ready, an industry leader in cold and compression products through a strategic alliance.
“We are delighted to be an investor in ReGear,” said Stonewood Managing Director
ReBound is a compact, portable, and simple-to-use therapeutic warming system that utilizes patented ReGear Diathermy(TM) technology. ReBound can be used to treat virtually any condition for which thermotherapy is indicated, including muscle spasms, joint contractures and pain associated with a variety of conditions such as osteoarthritis, soft tissue injuries, back disorders and more. No other method of thermotherapy targets deep tissue or provides sustained therapeutic warming over a broad targeted region as effectively as ReBound.
About ReGear Life Sciences
About Stonewood Capital Management
Stonewood Capital Management, Inc. is a
SOURCE Pittsburgh Life Sciences Greenhouse