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Elevage Medical Technologies is a venture capital firm focused on supporting medical technology companies, particularly those involved in devices, tools, diagnostics, and tech-enabled services. Founded in May 2023 by Patient Square Capital, the firm is headquartered in Austin, Texas. The organization aims to accelerate innovation in the medical technology sector through capital investment and strategic operational support.
Led by CEO Evan Melrose, M.D., who brings over 25 years of experience in healthcare across clinical, investment, and operational roles, Elevage has quickly established itself in the medtech investment landscape. The firm has an initial capital commitment of $300 million from Patient Square Capital and has raised an additional $50 million, bringing its total fund size to $350 million. Elevage's team consists of 10 members, each with significant expertise in the medical and business fields.
Elevage Medical Technologies specializes in growth-stage investments within the medical technology sector. The firm primarily targets FDA-regulated medical devices and diagnostics, advanced life science tools, and innovative healthcare IT solutions. Their investment strategy emphasizes companies that can meaningfully improve health outcomes and address unmet clinical needs.
Elevage's check sizes typically align with growth-stage funding requirements, allowing them to support companies through advanced clinical development and commercial acceleration. The firm focuses on North American companies, leveraging its deep technical, regulatory, and operational expertise to assist portfolio companies in navigating the complexities of the medical technology landscape.
Elevage Medical Technologies has made significant investments in several notable companies within the medical technology sector. Key portfolio companies include:
These investments reflect Elevage's commitment to advancing medical technology that enhances patient care and health outcomes.
Evan Melrose, M.D. - Chief Executive Officer & Partner. Dr. Melrose has over 25 years of experience in healthcare, encompassing clinical, investment, and operational roles.
Michael Wasserman, Ph.D. - Chief Operating Officer & Partner. Dr. Wasserman brings extensive expertise in operational management within the medical technology sector.
Suchira Sharma - Principal. Sharma plays a key role in evaluating investment opportunities and supporting portfolio companies.
Stacy Brown - Business Manager. Brown manages the firm's administrative functions and supports operational efficiency.
Chris Henry - Vice President. Henry focuses on strategic investments and partnership development.
Jae Yoon - Associate. Yoon assists in deal sourcing and due diligence processes.
Álvaro Ramírez - Investment Operations Associate. Ramírez supports the operational aspects of investment management.
Meagan Tovar - Senior Executive Assistant to the CEO. Tovar provides administrative support to the CEO and the executive team.
Josh Makower, M.D. - Senior Advisor & Board Member. Dr. Makower offers insights based on his extensive experience in medical technology.
Jim Momtazee - Chairman of the Board of Directors. Momtazee provides strategic oversight and governance for the firm.
Neel Varshney, M.D. - Board Member. Dr. Varshney contributes his medical expertise to the board's decision-making processes.
Laura Furmanski, Ph.D. - Board Member. Dr. Furmanski brings her scientific background to the board, enhancing its capabilities.
Hannah Carlino - Board Member. Carlino supports the board with her experience in business and investment.
Startups looking to pitch to Elevage Medical Technologies should send their proposals via email to admin@elevagemedical.com. It is important to include a comprehensive pitch deck that outlines the business model, market opportunity, and the technology's potential to address specific healthcare challenges.
Founders should expect a response within a few weeks, depending on the volume of inquiries. Warm introductions are preferred but not mandatory.
In November 2023, Elevage Medical Technologies led an $80 million Series C funding round for Elucid, a company specializing in cardiovascular imaging AI.
In August 2024, Elevage led a $91 million Series D funding round for Moximed, known for its MISHA Knee System, an implantable shock absorber for knee osteoarthritis.
In March 2026, Elevage co-led a $100 million funding round for Imperative Care, which focuses on automated stroke treatment robotics.
Elevage has also been active in publishing blog posts discussing significant financing announcements and advocacy efforts to expand access to innovative treatments in the medical technology sector.
What are Elevage Medical Technologies' investment criteria?
Elevage focuses on growth-stage medical technology companies that are developing FDA-regulated devices, diagnostics, advanced life science tools, and healthcare IT solutions. They seek companies that can significantly improve health outcomes and address unmet clinical needs.
How can startups apply or pitch to Elevage?
Startups interested in pitching to Elevage Medical Technologies can reach out via email at admin@elevagemedical.com. It is advisable to include a detailed pitch deck outlining the business model, market opportunity, and how the technology addresses specific healthcare challenges.
What makes Elevage Medical Technologies different from other investors?
Elevage provides not only capital but also deep technical, regulatory, and operational expertise to its portfolio companies. This support helps startups navigate the complexities of the medical technology landscape, which is often challenging due to regulatory requirements.
What is the geographic scope of Elevage's investments?
Elevage primarily invests in North American companies, focusing on those that are positioned to make a significant impact in the medical technology sector.
What is the typical check size for Elevage Medical Technologies?
While specific check sizes are not disclosed, Elevage's investments are aligned with growth-stage funding requirements, which typically involve larger capital commitments to support advanced clinical development and commercialization.
What kind of post-investment involvement does Elevage have?
Elevage engages actively with its portfolio companies, providing operational support and guidance in addition to capital. Their team’s expertise in the medical field allows them to assist companies in navigating regulatory challenges and optimizing their business strategies.
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