The surgical device industry in Europe encompasses a range of companies dedicated to developing tools and technologies for healthcare. This sector includes manufacturers of surgical instruments, robotic surgical systems, and diagnostic equipment, all committed to improving patient outcomes. The rise of minimally invasive procedures and advancements in technologies such as robotic surgery are driving growth. Moreover, the industry is trending toward personalized medicine and digital health solutions, brightening the horizon for innovation. Noteworthy is the increasing collaboration between startups and established firms, creating an atmosphere ripe for groundbreaking products and improvements in surgical practices.


The list showcases a blend of investors engaging in the surgical device market across Europe. These investors vary widely, from venture capital firms and public entities to private equity firms. Headquartered in major European cities, firms such as Novo Holdings in Denmark and Gilde Healthcare in the Netherlands exemplify geographic diversity. Their sizes range from small teams to larger organizations, and all have been actively investing in 2024—Novo Holdings alone made an impressive 45 deals. This analysis reflects the vibrant investment climate surrounding surgical devices, as backed by a rich history of support for healthcare innovation.


Top 18 Surgical Device Investors in Europe


1. European Innovation Council (EIC)


The European Innovation Council (EIC) is a public entity based in Brussels, Belgium, established to support innovation and entrepreneurship across Europe. Founded in 1958, the EIC offers various funding programs, including the EIC Accelerator and EIC Pathfinder, aimed at helping startups and SMEs develop and scale their technologies. The EIC provides business acceleration services, networking opportunities, and prizes to foster innovation in multiple sectors. Notably, the EIC has been involved in significant transactions within the surgical device industry, such as providing grants to Surgify, NEOS Surgery, and Ostoform. For instance, NEOS Surgery received a €1.9 million grant for the clinical validation of its DISC care device, while Ostoform was awarded €2.5 million to advance its FLOWASSIST innovation. These transactions highlight the EIC's commitment to supporting advancements in surgical technology and its active role in the surgical device market.


2. Bpifrance French Tech Accélération


Bpifrance French Tech Accélération is a venture capital investor based in Paris, Île-De-France, France, founded in 2015. As a public entity and financial institution, Bpifrance supports entrepreneurs and businesses in France and internationally through various services, including direct funding, export credit insurance, and private equity investments. They aim to foster entrepreneurship and innovation, helping businesses navigate growth and international expansion. Notably, Bpifrance has been involved in several transactions within the surgical device industry, including a post-IPO debt investment in SpineGuard, a debt financing round for Moon Surgical, and a seed round for Lattice Medical. Additionally, they provided non-dilutive funding to MastOR, a medical device company, highlighting their active role in supporting surgical device innovation.


3. Novo Holdings

  • Website: novoholdings.dk
  • Type: Venture Capital
  • Headquarters: Hellerup, Denmark
  • Founded year: 1999
  • Headcount: 51-200
  • Number of deals in 2024: 45
  • LinkedIn: novo-a-s

Novo Holdings A/S is a not-for-profit investment firm based in Hellerup, Denmark, founded in 1999. It manages the assets of the Novo Nordisk Foundation and focuses on investing in life science companies at various stages of development. Novo Holdings provides capital and strategic support to enhance healthcare solutions. Notably, they have participated in significant transactions within the surgical device industry, including a $33 million growth capital round for SI-BONE, Inc., aimed at expanding their U.S. sales organization and funding ongoing clinical studies. Additionally, they acquired a 19.95% shareholding in ConvaTec Group Plc, a global medical products company, and have invested in Minerva Surgical, which focuses on innovative surgical solutions. These transactions highlight Novo Holdings' active role in the surgical device sector, reinforcing their commitment to advancing healthcare technologies.


4. Almi

  • Website: almi.se
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1994
  • Headcount: 201-500
  • Number of deals in 2024: 7
  • LinkedIn: almi-ab

Almi AB is a financial services company based in Stockholm, Sweden, founded in 1994. It specializes in providing loans, risk capital, and business development support to small and medium-sized enterprises (SMEs) in Sweden. Almi aims to enhance the growth and competitiveness of these businesses by offering tailored financial solutions and guidance. Notably, Almi has been involved in several transactions within the surgical device context, including investments in OssDsign AB, a medtech company focused on craniofacial implants, and Developeration, a healthcare manufacturer of surgical methods and devices. Additionally, they have invested in BONESUPPORT and Suturion, both of which are relevant to the surgical device industry. These transactions highlight Almi's active role in supporting innovation and development in the surgical device sector.


5. Agoranov

  • Website: agoranov.com
  • Type: Corporate
  • Headquarters: Paris, Île-De-France, France
  • Founded year: 2000
  • Headcount: 11-50
  • Number of deals in 2024: 42
  • LinkedIn: agoranov

Agoranov is a corporate startup incubator based in Paris, Île-De-France, France, founded in 2000. They specialize in supporting technology and science startups through personalized assistance, fully equipped facilities, and acceleration programs. Agoranov primarily focuses on early-stage startups across various innovative sectors. Notably, they have been involved in several transactions within the surgical device context, including Moon Surgical, which raised funds in December 2019, and Ganymed Robotics, which secured funding in July 2018. Both companies are engaged in developing advanced surgical technologies, showcasing Agoranov's commitment to fostering innovation in the surgical device industry. Additionally, they have supported other startups like Corwave and Mistic, further emphasizing their broad engagement in the tech and science sectors.


6. Enterprise Ireland


Enterprise Ireland is a public entity that serves as the Irish government's enterprise development agency, founded in 1998. It supports Irish businesses at all stages of their growth journey by providing funding, advisory services, and market access assistance. The agency focuses on helping companies scale and compete internationally across various industries, including technology and manufacturing. Notably, Enterprise Ireland has been involved in several transactions within the surgical device sector, such as the €2 million investment in SurgaColl Technologies, a company focused on surgical solutions, and a Series A funding of over $6.8 million for NUA Surgical in 2024. These investments demonstrate their active role in fostering innovation in the surgical device industry, alongside their broader mission to support Irish enterprises.


7. Sofinnova Partners


Sofinnova Partners is a venture capital firm based in Paris, Île-De-France, France, founded in 1972. The firm specializes in life sciences investments, focusing on innovative healthcare startups through funding and strategic guidance, particularly in the biopharma and medtech sectors. Sofinnova Partners has been actively involved in the surgical device industry, exemplified by their co-lead role in a $55.4 million Series B funding round for Moon Surgical, a company developing surgical robotics. They also participated in the Series A funding for Moon Surgical, raising $31.3 million. Furthermore, they led a €40 million financing round for SafeHeal, a startup focused on improving colorectal surgery outcomes with their colovac device. These transactions highlight Sofinnova Partners' commitment to fostering advancements in surgical technologies and their strategic investments in the surgical device sector.


8. DigitalHealth.London


DigitalHealth.London is a not-for-profit organization based in London, England, founded in 2016. It connects NHS staff, digital health companies, and academics to enhance health and care through digital innovation. The organization offers various programs, including the Accelerator and Digital Pioneer Fellowship, to support the adoption of digital solutions in the NHS. Among their notable transactions, they have invested in Surgery Hero, which raised £2m in seed funding, indicating their engagement in the surgical device space. Other investments include companies like Oxford Heartbeat and Definition Health, which, while not exclusively surgical, contribute to the broader health technology landscape.


9. European Investment Bank (EIB)


The European Investment Bank (EIB) is a public entity based in Luxembourg, founded in 1958, that provides financial services including loans, equity investments, guarantees, and advisory services to support sustainable projects across various sectors. In recent years, the EIB has been involved in several significant transactions within the surgical device and medtech industries. For instance, they provided debt financing to Ottobock, a leader in prosthetics, and to Robocath, which specializes in robotic-assisted vascular interventions. Additionally, the EIB financed eCential Robotics with a €15 million agreement aimed at advancing research and innovation in neuro-musculo-skeletal surgery. Other notable investments include support for Xeltis and Vivasure Medical, both of which are engaged in developing innovative surgical solutions. These transactions highlight the EIB's active role in promoting growth and innovation in the surgical device sector.


10. Life Sciences Partners (LSP)

  • Website: lspvc.com
  • Type: Venture Capital
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 1987
  • Headcount: 11-50
  • Number of deals in 2024: 15
  • LinkedIn: lsp-bioventures

Life Sciences Partners (LSP) is a venture capital firm based in Amsterdam, Netherlands, specializing in private equity investments within the healthcare sector. Founded in 1987, LSP connects investors with innovative healthcare companies, focusing on drug development and medical technology. The firm aims to foster advancements in healthcare that address unmet medical needs by providing capital and support. Notably, LSP has been involved in significant transactions in the surgical device context, such as their investments in Simplify Medical, which raised funds to support pivotal clinical trials for the Simplify Disc, and Xeltis, which is developing polymer-based heart valve replacements. These investments highlight LSP's commitment to advancing surgical technologies and their relevance in the surgical device industry.


11. Gilde Healthcare


Gilde Healthcare is a prominent investment firm based in Utrecht, Netherlands, specializing in healthcare. Founded in 1982, the firm manages over €2.6 billion across two fund strategies: Venture & Growth and Private Equity. Gilde Healthcare focuses on innovative healthtech and therapeutics companies, as well as profitable lower mid-market healthcare providers in Europe. Notably, Gilde has made strategic acquisitions in the surgical device space, including the acquisition of Koscher & Würtz, a German manufacturer of surgical instruments, aimed at enhancing their product portfolio. They also acquired a majority stake in Chr. Diener, further solidifying their presence in the surgical device market. Their involvement in funding rounds for companies like Inari Medical and Shoulder Innovations indicates a broader interest in healthtech, including surgical devices, showcasing their capability to support and accelerate growth in this sector.


12. Scottish Enterprise


Scottish Enterprise is a public entity established in 1991, dedicated to fostering economic development in Scotland. With a workforce of 1001-5000, it provides a variety of services, including funding, business development advice, and support for innovation and exports. In recent years, Scottish Enterprise has been involved in several significant transactions within the surgical device sector. Notably, it provided a funding grant to Össur, a company specializing in upper limb prosthetic solutions, to enhance their product development capabilities. Additionally, Scottish Enterprise participated in the investment rounds for CardioPrecision, a company focused on less invasive treatments for structural heart disease, and has made multiple investments in Clear Surgical, which is engaged in developing surgical products. These activities highlight Scottish Enterprise's role in supporting the growth and innovation of surgical device companies in Scotland.


13. Novartis Venture Fund

  • Website: nvfund.com
  • Type: Venture Capital
  • Headquarters: Basel, Basel, Switzerland
  • Founded year: 1996
  • Headcount: 11-50
  • Number of deals in 2024: 10

The Novartis Venture Fund is a venture capital firm based in Basel, Switzerland, specializing in life sciences investments. Founded in 1996, the fund focuses on providing funding and support to innovative biotechnology and biopharmaceutical companies, helping them develop novel therapeutics and address unmet patient needs. Notably, the fund has participated in significant transactions within the surgical device sector, including a $21.8 million Series C financing round for Ablation Frontiers, which is engaged in clinical trials for surgical devices. Additionally, they have invested in Myopowers Medical Technologies, which is preparing for clinical trials to obtain CE mark in Europe, indicating their interest in medical technologies that may include surgical applications. Overall, the Novartis Venture Fund's investment strategy encompasses a range of life sciences, including surgical devices, making them a notable player in this field.


14. HBM Healthcare Investments AG


HBM Healthcare Investments AG is a venture capital firm based in Zug, Switzerland, founded in 2001. The firm specializes in the healthcare sector, managing a diversified portfolio that includes investments in human medicine, biotechnology, medical technology, and diagnostics. In 2024, HBM Healthcare Investments has made eight investments, showcasing their active role in the healthcare market. Notably, they have participated in funding rounds for companies like Shape Memory Medical, which focuses on developing innovative products for the aortic and peripheral vascular markets. Their investment in Shape Memory Medical's Series C financing round, aimed at supporting pivotal trials and product development, highlights their commitment to advancing surgical device technologies. Additionally, HBM has also invested in Valcare Medical, further emphasizing their engagement in the medical technology space.


15. Andera Partners

  • Website: anderapartners.com
  • Type: Private Equity
  • Headquarters: Paris, Île-De-France, France
  • Founded year: 1953
  • Headcount: 51-200
  • Number of deals in 2024: 10
  • LinkedIn: anderapartners

Andera Partners is a private equity firm based in Paris, Île-De-France, France, founded in 1953. The firm specializes in investment management and focuses on providing financial support and strategic guidance to companies across various sectors, including life sciences and infrastructure. Notably, Andera Partners has been involved in several transactions within the medical technology space, particularly with Implanet, a medical technology start-up based in Bordeaux, France. They participated in multiple funding rounds for Implanet, including Series A, B, C, and D, raising significant amounts such as $10.1 million in Series D and $12.6 million in Series B. This consistent investment in a surgical device company highlights their commitment to the medical technology sector and their capability to support innovation and growth in this area.


16. Abingworth

  • Website: abingworth.com
  • Type: Venture Capital
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 1973
  • Headcount: 11-50
  • Number of deals in 2024: 6
  • LinkedIn: abingworth

Abingworth LLP is a London-based venture capital firm founded in 1973, specializing in life sciences investments. The firm provides capital and strategic support primarily to biopharmaceutical companies, but it also engages in investments related to medical devices. Notably, Abingworth has participated in significant funding rounds for companies like Stanmore Implants Worldwide, which raised approximately $19.9 million in 2008, focusing on implantable devices. They also invested in Sientra, which raised $65 million in 2012, a company involved in aesthetic surgical products. Their involvement in Lombard Medical and Kuros Biosciences further demonstrates their commitment to supporting innovative medical technologies. Abingworth's multi-pronged investment strategy includes venture investments and clinical co-development financing, making them a versatile player in the life sciences sector, including surgical devices.


17. Novartis

  • Website: novartis.com
  • Type: Corporate
  • Headquarters: Basel, Basel, Switzerland
  • Founded year: 1996
  • Headcount: 10001+
  • Number of deals in 2024: 7
  • LinkedIn: novartis

Novartis AG is a leading pharmaceutical company based in Basel, Switzerland, founded in 1996. The company is dedicated to developing and manufacturing innovative medicines that address serious diseases across various therapeutic areas. Novartis emphasizes research and development to improve patient outcomes globally. Notably, Novartis acquired Alcon in December 2010 for $12.9 billion, significantly expanding its footprint in the surgical device market, particularly in ophthalmology. Additionally, Novartis has participated in funding rounds for companies like Autonomic Technologies, which raised $38 million in a Series D financing round, indicating their interest in technologies that may intersect with surgical applications. Their investment history reflects a strategic approach to enhancing their portfolio with surgical device capabilities, particularly in eye care.


18. Forbion

  • Website: forbion.com
  • Type: Venture Capital
  • Headquarters: Naarden, North Holland, Netherlands
  • Founded year: 2006
  • Headcount: 11-50
  • Number of deals in 2024: 23
  • LinkedIn: forbion-capital-partners

Forbion is a venture capital firm founded in 2006, located in Naarden, North Holland, Netherlands. The firm specializes in the life sciences and bioeconomy sectors, providing investment management and support to biotech companies to help them develop innovative therapies and technologies. Forbion collaborates with entrepreneurs and academic institutions to address unmet medical needs and improve patient outcomes. Notably, Forbion has participated in significant transactions such as the $40 million raised by Impella Cardiosystems, which develops heart pump devices, highlighting their involvement in the surgical device industry. Additionally, they have been part of funding rounds for companies like Autonomic Technologies and AM Pharma, which, while primarily focused on other medical technologies, demonstrate Forbion's broader engagement in the life sciences sector.



Surgical Device Insights: Key Investors in Europe


InvestorHeadquarterSizeFoundedDeals 2024
European Innovation Council (EIC)Brussels, Brussels, Belgium201-500195857
Bpifrance French Tech AccélérationParis, Île-De-France, France1-102015198
Novo HoldingsHellerup, Denmark51-200199945
AlmiStockholm, Stockholm, Sweden201-50019947
AgoranovParis, Île-De-France, France11-50200042
Enterprise IrelandDublin, Dublin, Ireland501-1000199848
Sofinnova PartnersParis, Île-De-France, France51-200197225
DigitalHealth.LondonLondon, England, United Kingdom (UK)11-5020161
European Investment Bank (EIB)Luxembourg1001-5000195899
Life Sciences Partners (LSP)Amsterdam, North Holland, Netherlands11-50198715
Gilde HealthcareUtrecht, Utrecht, Netherlands51-200198212
Scottish EnterpriseGlasgow, Scotland, United Kingdom (UK)1001-5000199155
Novartis Venture FundBasel, Basel, Switzerland11-50199610
HBM Healthcare Investments AGZug, Zug, Switzerland1001-500020018
Andera PartnersParis, Île-De-France, France51-200195310
AbingworthLondon, England, United Kingdom (UK)11-5019736
NovartisBasel, Basel, Switzerland10001+19967
ForbionNaarden, North Holland, Netherlands11-50200623


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