Affinity Capital Management

Affinity Capital Management, founded in 1993 by Edson Spencer, is a Minnesota-based firm that provides investment services specifically for the healthcare technology sector. The company focuses on identifying and supporting innovative companies within this industry, aiming to drive growth and enhance value for its clients. With a commitment to the healthcare technology landscape, Affinity Capital Management leverages its expertise to assist firms in navigating the complexities of investment and development in this rapidly evolving field.

Edson Spencer

Founder

Past deals in Minnesota

Respicardia

Series D in 2013
Respicardia, Inc. is a medical technology company based in Minnetonka, Minnesota, focused on enhancing respiratory rhythm management and cardiovascular health for heart failure patients. Founded in 2006, the company develops and manufactures innovative implantable stimulation therapy solutions, notably the remede System. This device is designed to restore normal breathing patterns during sleep for individuals suffering from central sleep apnea. Respicardia aims to improve the lives of these patients through safe and effective neurostimulation therapies that stimulate the phrenic nerve, thereby addressing critical needs in respiratory and cardiovascular health.

Respicardia

Series C in 2010
Respicardia, Inc. is a medical technology company based in Minnetonka, Minnesota, focused on enhancing respiratory rhythm management and cardiovascular health for heart failure patients. Founded in 2006, the company develops and manufactures innovative implantable stimulation therapy solutions, notably the remede System. This device is designed to restore normal breathing patterns during sleep for individuals suffering from central sleep apnea. Respicardia aims to improve the lives of these patients through safe and effective neurostimulation therapies that stimulate the phrenic nerve, thereby addressing critical needs in respiratory and cardiovascular health.

ValenTx

Series B in 2009
ValenTx, Inc. is a medical device company based in Maple Grove, Minnesota, that specializes in developing innovative therapy solutions for patients suffering from obesity and obesity-related metabolic disorders. Founded in 2002, ValenTx focuses on minimally-invasive treatment methods, including an endoluminal bypass therapy that replicates the anatomical changes of the traditional Roux-en-Y gastric bypass procedure. This technology features an adjustable, removable, and replaceable device designed to address conditions such as type-2 diabetes and hypertension, aiming to improve patient outcomes in the management of these chronic health issues.

CoAxia

Series D in 2009
CoAxia is a medical device company located in Minneapolis, Minnesota, specializing in the research and development of innovative therapies and treatment solutions for cerebral ischemia. The company focuses on creating devices that control blood flow to the brain, specifically through its neuroflo and flocontrol products. These devices are designed to divert blood flow in patients, thereby helping to reduce the risk of strokes and heart attacks, particularly in individuals experiencing vasospasm and heart blockage. CoAxia aims to improve patient outcomes by providing advanced medical solutions for critical conditions related to cerebral blood flow.

Respicardia

Series B in 2008
Respicardia, Inc. is a medical technology company based in Minnetonka, Minnesota, focused on enhancing respiratory rhythm management and cardiovascular health for heart failure patients. Founded in 2006, the company develops and manufactures innovative implantable stimulation therapy solutions, notably the remede System. This device is designed to restore normal breathing patterns during sleep for individuals suffering from central sleep apnea. Respicardia aims to improve the lives of these patients through safe and effective neurostimulation therapies that stimulate the phrenic nerve, thereby addressing critical needs in respiratory and cardiovascular health.

Spineology

Series B in 2008
Spineology Inc. is a medical device company specializing in anatomy-conserving technology solutions for spine surgery. Founded in 1996 and headquartered in Saint Paul, Minnesota, the company offers a range of products designed to enhance surgical efficiency and improve patient outcomes. Its product lineup includes pedicular fixation systems like Threshold and Fortress, interbody fusion solutions such as Duo and Rampart, and biologics like the Prime liquid tissue matrix and Armor amniotic wound covering. Additionally, Spineology provides a variety of surgical instruments, including the Capture facet fixation system, VIA spinous process fixation system, and Medius midline retractor system, among others. The company focuses on using minimally invasive techniques to reduce post-operative pain and facilitate quicker recovery for patients suffering from spinal-related issues.

CoAxia

Series C in 2008
CoAxia is a medical device company located in Minneapolis, Minnesota, specializing in the research and development of innovative therapies and treatment solutions for cerebral ischemia. The company focuses on creating devices that control blood flow to the brain, specifically through its neuroflo and flocontrol products. These devices are designed to divert blood flow in patients, thereby helping to reduce the risk of strokes and heart attacks, particularly in individuals experiencing vasospasm and heart blockage. CoAxia aims to improve patient outcomes by providing advanced medical solutions for critical conditions related to cerebral blood flow.

Atritech

Series D in 2007
Atritech is a private medical technology company based in Minneapolis, Minnesota, founded in 2000. The company specializes in developing minimally invasive technologies aimed at preventing strokes related to atrial fibrillation. Their flagship product, the WATCHMAN Left Atrial Appendage Closure Technology, is designed to offer a permanent alternative to long-term anticoagulation therapy for patients with non-valvular atrial fibrillation who are at risk of stroke. The device works by closing off the left atrial appendage, preventing harmful blood clots from entering the bloodstream and causing strokes or other complications. The WATCHMAN Device has been CE Marked and is available in many markets outside the United States, while it is currently under investigation in the U.S.

Respicardia

Series A in 2006
Respicardia, Inc. is a medical technology company based in Minnetonka, Minnesota, focused on enhancing respiratory rhythm management and cardiovascular health for heart failure patients. Founded in 2006, the company develops and manufactures innovative implantable stimulation therapy solutions, notably the remede System. This device is designed to restore normal breathing patterns during sleep for individuals suffering from central sleep apnea. Respicardia aims to improve the lives of these patients through safe and effective neurostimulation therapies that stimulate the phrenic nerve, thereby addressing critical needs in respiratory and cardiovascular health.

CoAxia

Series C in 2006
CoAxia is a medical device company located in Minneapolis, Minnesota, specializing in the research and development of innovative therapies and treatment solutions for cerebral ischemia. The company focuses on creating devices that control blood flow to the brain, specifically through its neuroflo and flocontrol products. These devices are designed to divert blood flow in patients, thereby helping to reduce the risk of strokes and heart attacks, particularly in individuals experiencing vasospasm and heart blockage. CoAxia aims to improve patient outcomes by providing advanced medical solutions for critical conditions related to cerebral blood flow.

Atritech

Series C in 2006
Atritech is a private medical technology company based in Minneapolis, Minnesota, founded in 2000. The company specializes in developing minimally invasive technologies aimed at preventing strokes related to atrial fibrillation. Their flagship product, the WATCHMAN Left Atrial Appendage Closure Technology, is designed to offer a permanent alternative to long-term anticoagulation therapy for patients with non-valvular atrial fibrillation who are at risk of stroke. The device works by closing off the left atrial appendage, preventing harmful blood clots from entering the bloodstream and causing strokes or other complications. The WATCHMAN Device has been CE Marked and is available in many markets outside the United States, while it is currently under investigation in the U.S.

Myocor

Series D in 2004
Myocor is a medical company based in Minnesota, founded in 1996, that specializes in developing and distributing therapeutic products aimed at treating mitral regurgitation and heart failure. The company focuses on creating medical devices that alter the physiology of heart failure, ultimately enhancing clinical outcomes for patients with late-stage heart conditions. One of its notable innovations is the Coapsys device, which utilizes pads and a tensioned string to reshape an enlarged heart and improve the functionality of a leaky mitral valve. By providing these advanced technologies, Myocor seeks to improve cardiac function and offer effective solutions for individuals suffering from heart-related ailments.

Disc Dynamics

Series E in 2004
Disc Dynamics is a healthcare company. They design and develop medical products. The Company offers surgical alternatives for the treatment of lower back problems and disc diseases. It offers DASCOR Disc arthroplasty system, a catheter-based minimally invasive nucleus replacement technology for the treatment of degenerated lumbar discs. Disc Dynamics was founded by Jeffrey Felt in 2000 and is headquartered in Eden Prairie, Minnesota.

Celleration

Series B in 2002
Celleration Inc. is a privately held medical device company based in Eden Prairie, Minnesota, founded in 1999. The company specializes in developing and commercializing therapeutic ultrasound technologies for wound care. Its flagship product, the MIST Therapy System, utilizes low-frequency ultrasound delivered through a saline mist to promote healing in wounds. This innovative approach allows ultrasound energy to penetrate beyond the surface of the wound, stimulating cellular activity and enhancing the healing process. Since receiving FDA clearance in 2005, Celleration has established a strong presence in the U.S. market, with over 1 million MIST Therapy treatments performed, benefiting more than 65,000 patients across numerous healthcare facilities. Celleration's commitment to advancing wound care technology has resulted in significant clinical and economic benefits, reinforcing its role in the medical community.
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