Form 4: EW Healthcare Partners Boosts TELA Bio Stake

EW Healthcare Partners Funds acquired 3.6 million shares of TELA Bio common stock in a direct offering, increasing their total beneficial ownership to over 7.7 million shares.

Summary

• EW Healthcare Partners Fund 2, L.P. and EW Healthcare Partners Fund 2-A, L.P. acquired a combined 3,604,000 shares of TELA Bio, Inc. common stock.
• The acquisition occurred on November 17, 2025, at a price of $1.11 per share.
• The shares were acquired through an underwritten registered direct offering.
• Following this transaction, the reporting persons beneficially own an aggregate of 7,714,709 shares of TELA Bio common stock.
• EW Healthcare Partners Fund 2, L.P. holds 3,031,617 shares, and EW Healthcare Partners Fund 2-A, L.P. holds 4,683,092 shares.
• The reporting persons are identified as 10% owners and directors of TELA Bio, Inc.

Sentiment

Score: 7

Explanation: The acquisition of a significant block of shares by a major institutional investor in a direct offering generally signals confidence in the company and provides capital, which is a positive indicator.

Positives

• Significant institutional investment by EW Healthcare Partners, indicating confidence in TELA Bio.
• TELA Bio successfully raised capital through a direct offering.
• Increased beneficial ownership by a major investor to 7,714,709 shares.

Future Outlook

NA

Management Comments

• The managers of EW Healthcare Partners Fund 2-UGP, LLC (Martin P. Sutter, Ron Eastman, Scott Barry, and Petri Vainio) may exercise voting and investment control over the shares held by the EW Funds only by majority action.
• Each of the Managers, EW Funds GP, and the General Partner disclaims ownership over the shares held by the EW Funds except to the extent of his or its respective pecuniary interest therein.

Industry Context

NA

Related Party Transactions

• EW Healthcare Partners, a 10% owner and reported director of TELA Bio, Inc., acquired additional shares from the company.

Stakeholder Impact

• Shareholders: Potential dilution from the direct offering, but also a vote of confidence from a major institutional investor.
• Company (TELA Bio): Received capital from the direct offering to support operations or growth initiatives.

Key Dates

Keywords

TELA Bio, TELA, EW Healthcare Partners, stock acquisition, direct offering, beneficial ownership, institutional investment, Form 4, insider transaction, capital raise