Naples Florida Weekly
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Tamiami Angels invest in Naples medical device company



Angel investors from Southwest Florida invested additional equity in Catalyst OrthoScience, a Naples-based medical device company that has developed an innovative approach to shoulder-replacement surgery.

The members of Tamiami Angel Fund IV invested $669,791 in Catalyst OrthoScience’s fourth “Series D” preferred stock offering. Together with prior investments from members of Tamiami Angel Funds II and III, the Naples angels have invested a total of $2.38 million in the fast-growing firm, now the largest investment of any Tamiami portfolio company.

“When we launched the Tamiami Angel Funds over a decade ago, our goal was to identify and invest in promising Florida companies, and we are proud to say our largest investment to date is in our hometown,” says Timothy Cartwright, partner of Fifth Avenue Family Office and chairman of Tamiami Angel Funds.

“This innovative technology and groundbreaking solution created by Naples orthopedic surgeon, Dr. Steven Goldberg, represents the spirit of entrepreneurship that we seek to encourage as an overarching strategy to diversify Southwest Florida’s economy,” Mr. Cartwright added.

Shoulder replacement is one of the fastest-growing segments in orthopedics, representing the majority of the upper extremities market. Catalyst OrthoScience is disrupting the standard market approach to shoulder replacement surgery on many fronts. In March 2021, the company received clearance from the U.S. Food & Drug Administration to market its reverse shoulder system, allowing the company to reach over 60 percent of the shoulder arthroplasty market.

The Archer CSR Total Shoulder System is unique because it offers precision and accuracy in shoulder restoration while preserving the patient’s bone and soft tissue compared to other systems. With stemless anatomic and reverse TSA market coverage, Catalyst OrthoScience has emerged as one of the fastest-growing players in the total shoulder arthroplasty market.

“This funding round comes at a pivotal time for the Catalyst OrthoScience team,” says Brian Hutchison, chair and CEO of Catalyst OrthoScience. “We are experiencing a significant period of growth, and this funding allows us to enhance our innovative product portfolio with further technological advancements in the shoulder arthroplasty space and expand our team across all areas.”

Angel investors help entrepreneurs before they seek venture capital, but after they’ve exhausted money from friends and family. Such investors typically are wealthy individuals or families who have the means to risk their capital and give freely of their time to mentor entrepreneurs in the startup phase of a business.

Headquartered in Naples, Tamiami Angel Funds consists of four member managed funds that allow highnet worth individuals and families to invest in promising early-stage and expansion-stage companies located in the U.S., with a preference for those in the state of Florida. Fifth Avenue Family Office is the administrator of the angel funds and caters to high-networth entrepreneurs and their families. For more information, visit www.tamiamiangels.com.

For more information about Catalyst OrthoScience, visit www.CatalystOrtho.com. ¦

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