Matheson advises on multimillion investment into medical device company

George Brady
George Brady

Matheson recently advised the Ireland Strategic Investment Fund on its multimillion euro equity investment in Mainstay Medical International plc.

Mainstay raised around €30 million in total from the Fund, existing investors, and new investors.

The Dublin-based medical device company is focused on bringing to market an implantable neurostimulation system, ReActiv8, for people with disabling chronic low back pain.

The company has subsidiaries operating in the United States, Australia, Germany and the Netherlands, and is listed on the regulated market of the Euronext Paris and the ESM of the Irish Stock Exchange.

George Brady, corporate partner at Matheson, said: “We are delighted to have been able to support the Ireland Strategic Investment Fund on this investment.”

Mr Brady led the firm’s team advising on the investment, with support from a team of specialists in other areas across the firm.

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