Ft. Lauderdale, FL (May 4, 2012): OrthoSensor, Inc., a leader in intelligent orthopedics, announced that the company has closed on an additional $15 million in Series B Preferred Stock financing, bringing the total Series B investment to $36 million. The funds will be used to expand the commercialization of the company’s first product, the OrthoSensor™ Knee Balancer, and to support the launch of OrthoSensor’s line of additional intelligent orthopedic devices.
Intelligent Orthopedics is a new field that harnesses the latest innovations in sensors, microelectronics and wireless communications with the goal of improving healthcare outcomes and reducing the cost of treating musculoskeletal disease. OrthoSensor has a portfolio of devices that provide real-time data to surgeons and hospitals. OrthoSensor’s sensor-assisted instrumentation and implants are designed to enhance surgical implantation, as well as enable remote monitoring of implant function and overall musculoskeletal health.
“The strong interest in our latest round of funding demonstrates the continued investor confidence in OrthoSensor and the tremendous market opportunity for intelligent orthopedics,” commented Jay Pierce, Chief Executive Officer of OrthoSensor. “Since the start of our limited release in September, the OrthoSensor™ Knee Balancer has been adopted in some of the most prestigious orthopedic facilities in the United States and is providing a wealth of data associated with soft tissue tensioning and knee kinematics. We will utilize these funds to expand the commercial launch of the Knee Balancer and to bring to market the next products in our portfolio of intelligent orthopedic devices. Our cutting edge technology is poised to transform the treatment of musculoskeletal disease by facilitating evidence-based orthopedics.”
OrthoSensor has three product platforms: OrthoSensor Surgical, OrthoSensor Implantables and OrthoSensor Analytics. The company’s first product is the OrthoSensor™ Knee Balancer. Used to insure proper soft tissue balance during total knee arthroplasty, the OrthoSensor Knee Balancer takes knee replacement surgery to a new level of precision. The product is embedded with sensors that provide surgeons with actionable data on implant fit and knee kinematics. The sensors wirelessly transmit key information to a graphic display, enabling surgeons to make informed adjustments to the soft tissues to improve implant placement. Accurate implant placement and soft tissue balance have been shown to extend the life of implants, reduce the incidence of revision surgeries and improve patient function.1,2,3,4,5
1. Parratte S, Pagnano MW. Instability after total knee arthroplasty. J Bone Joint Surg Am 2008; 90: 184–94.
2. Lombardi AV Jr1, Berend KR1, Adams JB1. Why knee replacements fail in 2013: patient, surgeon, or implant? Bone Joint J. 2014 Nov;96-B(11 Supple A):101-4.
3. Schroer WC, Berend KR, Lombardi AV, et al. Why are total knees failing today? Etiology of total knee revision in 2010 and 2011. J Arthroplasty 2013;28(8 Suppl):116–119.
4. Bozic KJ, Kurtz SM, Lau E, Ong K, Chiu V, Vail TP, Rubash HE, Berry DJ. The epidemiology of revision total knee arthroplasty in the United States. Clin Orthop Relat Res.2010; 468(1):45–51.
5. Rodriguez-Merchan, EC. Instability Following Total Knee Arthroplasty. HSS J. Oct 2011; 7(3): 273–278.
About OrthoSensor, Inc.
OrthoSensor, Inc., a leader in Sensor-Assisted Total Knee Arthroplasty develops and commercializes intelligent orthopaedic devices and data services that provide quantitative feedback to surgeons and hospitals. The company’s intelligent orthopaedic devices utilize advanced proprietary sensor and communications technologies, coupled with the company’s innovative software products, to facilitate evidence-based decisions in orthopaedic surgery – with the goal of improving patient outcomes and potentially reducing the cost of treating musculoskeletal disease.
OrthoSensor® and VERASENSE™ are trademarks of OrthoSensor, Inc.
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