San Diego, CA
Movemedical, the enterprise software platform for medical device inventory management, is pleased to announce a strategic investment partnership with Resurgens Technology Partners. This investment provides capital for continued growth and expansion, fueling Movemedical’s mission to unite the medical device supply chain and drive continued innovation across the industry.
“As we expand, our commitment to innovation and uniting the fragmented medical device supply chain remains central,” said Bo Molocznik, Founder and CEO of Movemedical. “We believe we can rapidly advance our platform, ensuring we stay ahead of the curve while continuing to deliver exceptional value to our growing customer partners.”
Josh Weeks, President of Movemedical, expressed his excitement and vision for Movemedical: “We are currently disrupting this industry with our technology, and this investment allows us to scale even further. Our success is driven by the talented people and industry experts who are deeply committed to pushing boundaries and solving the most complex supply chain challenges. With this new partnership, we aspire to continue leading the way for our customers and the industry.”
Movemedical will use the investment to continue building the team, adding depth and capabilities across all functions of the business with the goal of accelerating the expansion of the business’ global footprint, while continuing to provide customers with real-time visibility, optimized inventory control, and more seamless collaboration across the supply chain.
“The inefficiency and fragmented nature of medical device supply chains drive cost and complexity through our healthcare system,” said Danny Carpenter, Principal at Resurgens Technology Partners. “We’re excited about the opportunity to partner with the innovative team at Movemedical, their customers and partners to reshape these critical business processes and improve the cost and quality of global healthcare delivery.”
“We set out to help grow companies that we view as leaders in their markets” added Adi Filipovic, Managing Director at Resurgens Technology Partners, “and we believe Movemedical is uniquely positioned to lead an industry-wide transformation of the way medical device supply chains are managed.”
This investment marks the tenth platform investment from Resurgens’ second fund, a $500 million vehicle that closed in 2022.
Vedder Price advised Movemedical and DLA Piper advised Resurgens on the transaction.