OrthoSensor Secures Series B FinancingMay 8, 2012
The company has closed on an additional $15 million in financing, bringing the total to $36 million, which will be used to expand commercialization of its OrthoSensor Knee Balancer and to support the launch of additional intelligent orthopedic devices.
FT. LAUDERDALE, FL /Marketwire/ -- 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 U.S. and is providing a wealth of data associated with soft tissue tensioning and knee kinematics. We will use 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 ensure 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 optimize 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.
OrthoSensor Inc. is an innovative medical device company, developing and commercializing intelligent orthopedic devices that provide real-time data to surgeons and hospitals during and after surgery. OrthoSensor's intelligent orthopedic devices use advanced sensor and wireless communication technology, with the goal of improving healthcare outcomes and reducing the cost of treating musculoskeletal disease. The company's intelligent orthopedic instrumentation and implants are designed to enhance surgical implantation, as well as enable remote monitoring of implant function and overall musculoskeletal health.
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