Mainstay Medical secures €13m in debt financing

Dublin-based medical devices firm, Mainstay Medical has received a boost to its attempts to commercialise a breakthrough treatment for chronic back pain by securing $15m (€13m) in debt financing.

The fresh funding will go towards further pushing Mainstay’s ReActiv8 implantable device product for sufferers of chronic back pain, towards market.

The money is being provided by IPF Partners, a leading financier focused on the European healthcare market, and will be available in three tranches.