May 2, 2023 – Patient Square Capital announced the formation of Elevage Medical Technologies, a new portfolio company to support the growth of promising medical device companies by providing capital and deep strategic expertise. Elevage will be led by newly appointed CEO Evan Melrose, M.D., who brings more than 25 years of experience in health care across clinical, investment, and operational roles.
Patient Square has made a capital commitment of $300 million to Elevage Medical Technologies. The newly formed company will deliver financial and strategic growth support to a broad set of medical device technology companies that are at the forefront of transforming health care through cutting-edge devices that enhance health outcomes and quality of life for patients.
Dr. Melrose most recently served as the Founding Managing Director of Spindletop Capital, which provided pivotal growth capital for healthcare companies. Before this, he was the Founding Managing Director of PTV Sciences, an Austin-based venture capital firm, and served as a Director with Burrill & Company, a San Francisco-based life sciences private equity/venture capital firm. Dr. Melrose serves or has served on multiple company boards including IntersectENT, Bioventus, and BioForm Medical.