At this point 3i is co-leading with NGN Capital, each with $12m in a total $42.2m investment round in SBI. 3i's Boston based head of US venture capital, Allan Ferguson and 3i's Paris based director Olivier Litzka are taking active board roles working with the company's proven management team to drive growth in the US and Europe.

SBI was founded in 2004 by orthopaedics investors, the Viscogliosi brothers, who have grown the business through several acquisitions to date. Today SBI's specialist orthopaedic products are used by surgeons to treat critical and painful small bone and joint injuries in patients, due to dehabilitating conditions such as arthritis but also through trauma.

Allan Ferguson, said "I was pleased to work with my 3i colleagues in Paris, Lyon and Munich on this exciting venture, which clearly underscores the international dimensions of this enterprise. It's worth noting that SBI's products are already being sold in 28 countries. As we see it, that represents the beginning of a truly global business. "
Olivier Litzka added: "Given industry estimates valuing this part of the orthopaedics market at $1.4bn, we feel that SBI has emerged as the clear leader marking out this poorly served territory as their own, for years to come."

"Small Bone Innovations concentrates on a critical area of health care," said Anthony G. Viscogliosi, SBI's Chairman and CEO. "Injuries to small bones dramatically alter quality of life and it's clear that as our population ages, more and more of us will be handicapped by diseases - like arthritis - that affects the hands and feet," he said. "SBI brings together the leading technology and the best minds in the field to address the need for new approaches to small bone medical science."

3i's experience and focus in specialist orthopaedics is demonstrated through its long track record of investments, for example with two French companies, both experts in spinal surgery technologies;  Spine Next, sold to Abbott for $60m in 2004 and Sofamor, which merged first with Danek and later with Medtronic in a deal valued at over $3bn in 1998. 3i's international industry contacts will help SBI become the industry's primary source of orthopaedics products in this poorly served and rapidly expanding market. 

Ropes & Gray advised 3i on the deal.