BOZEMAN, Mont. (AP) — A Belgrade-based company that makes medical devices has received $25 million from a New York investment firm.
Bacterin International Holdings makes advanced devices such as those used in certain transplants called allografts. It recently received the funding from OrbiMed, an investment firm that focuses on health care and life sciences companies.
Bacterin CEO Guy Cook tells the Bozeman Daily Chronicle (http://bit.ly/Sgu2yz ) that about $10 million will go to pay off debt. The rest will go toward hiring salespeople.
The company has about 200 employees and recorded sales of about $30 million last year. Cook says he believes the OrbiMed investment can help Bacterin's sales top $100 million in the next few years.
The company was started in 1998.