Quadrant Growth Fund 2 (“Quadrant”) has partnered with Evolution Surgical, an innovative and leading Australian designer and manufacturer of spinal implants. Quadrant is investing and partnering alongside CEO Jack Lancaster and the broader management team.
Evolution Surgical is an innovative and leading Australian designer and manufacturer of spinal surgery technology. The business offers a differentiated portfolio of proprietary spinal implants, instrumentation, enabling technologies and biologics. Being one of the few local companies with meaningful scale, Evolution Surgical works in close partnership with Australian surgeons to drive the best patient outcomes. The business has integrated design, manufacturing, and distribution capabilities, giving it the ability to collaborate with Australian clinicians for innovative design input, rapid product development, and maintenance of high-quality controls and standards. Evolution Surgical technology is used to help thousands of patients each year suffering with conditions such as spinal-tumours, deformity, trauma, or degenerative disc disease.
Quadrant is partnering with CEO and Founder, Jack Lancaster and the broader management team, to continue to drive innovation and best practice in the delivery of world class products in spinal surgeries. The Quadrant investment will support Evolution Surgical’s ongoing growth with investments in key clinical representative and engineering hires, product R&D resources, expansion in key states, and capex.
Quadrant has significant experience and a highly successful track record of partnership in healthcare investments alongside founders and manager shareholders, including with prior investee companies Icon Cancer Care, Qscan, Estia Health and Virtus Health, and current portfolio companies Partnered Health, Southern Star Research, and Cancer Care Australia.
Johnny Zhang, Partner of Quadrant said “We are excited to be partnering with an innovative and high-quality Australian MedTech business, and with Jack and the management team who have deep expertise in the Australian spinal implants market. We will be investing growth capital to accelerate expansion plans to serve more surgeons in delivering great patient outcomes, support local design and manufacturing capabilities, and continue to invest in innovative product development, with the aim of furthering Evolution Surgical’s position as a differentiated, local champion.”
Jack Lancaster, CEO of Evolution Surgical said “The partnership with Quadrant is a significant milestone and we are excited for the expertise and resource the team will bring to accelerate our growth and the ways we can help patients. Evolution Surgical will continue to remain focused on serving Australian surgeons and patients, and our innovative product development.”
Evolution Surgical will be the seventh investment in Quadrant Growth Fund 2 which is a $530 million fund. Quadrant was advised by Herbert Smith Freehills, Boston Consulting Group, KPMG, and Greenmount. Evolution Surgical was advised by Frank Law + Advisory, KTM Capital, and PKF.
Media Contacts
Quadrant Private Equity
+61 2 9221 3044
Evolution Surgical
Jack Lancaster – +61 477 861 030
Dom Langford – +61 400 686 302