Mainstay Medical Holdings is a Dublin, Ireland–based medical device company focused on commercializing its implantable Restorative Neurostimulation system, ReActiv8, for people with disabling mechanical chronic low back pain (CLBP). Led by CEO Jason Hannon, the company is advancing rapid commercial growth and insurance coverage for ReActiv8. It announced a US$125M equity financing to support that growth and its operations. Mainstay plans to use the proceeds to expand ReActiv8 commercial activity in the U.S., Europe and Australia, to fund additional post‑market clinical studies and research, and for general operations. The company operates subsidiaries in Ireland, the United States, Australia, Germany and the Netherlands. The financing is positioned to accelerate Mainstay’s commercial and clinical initiatives for ReActiv8. Mainstay Medical develops and commercializes ReActiv8, an active implantable neurostimulation device intended to treat adults with intractable chronic low back pain by electrically stimulating the L2 medial branch to elicit multifidus muscle contraction. ReActiv8 holds a CE Mark for the EEA, is admitted to the Australian Register of Therapeutic Goods and included on Australia’s Prostheses List, and is FDA approved in the U.S. The company says ReActiv8 has been building clinical validation in Germany ahead of wider commercial availability. Mainstay is headquartered in Dublin, Ireland, with subsidiaries in the United States, Australia, Germany and the Netherlands. The company plans a U.S. commercial launch in early 2021 and intends to expand commercialization in Europe and Australia, conduct additional post-market clinical studies and continue research. Mainstay recently completed a material equity financing to support those commercial and clinical initiatives and general operations.

Total raised

$233M

Funding rounds

2

Latest round

Equity

Latest activity

Feb 2024