By Andy Choi
OrthoSensor has secured an additional Series B Preferred Stock financing to expand its product portfolio. With the additional $15 million in financing, the company’s total Series B investment has reached $36 million.
OrthoSensor will use the funds to expand the commercialization of its first product called OrthoSensor Knee Balancer and support the launch of its other intelligent orthopedic devices.
Intelligent Orthopedics tackles the new innovations in sensors, wireless communications and microelectronics with an aim to improve healthcare outcomes and reduce the cost of the musculoskeletal disease treatment. OrthoSensor’s devices offer real-time data to hospitals and surgeons. Sensor-assisted instrumentation and orthopedic implants, available from OrthoSensor, are designed to improve surgical implantation and allow remote surveillance of implant function and musculoskeletal health.
Jay Pierce, CEO of OrthoSensor, said that the funding demonstrates the investor’s confidence in the company and the enormous market fortuity for intelligent orthopedics. He also said that since the limited release of the OrthoSensor Knee Balancer in September, the product has been adopted in orthopedic facilities in the US.
OrthoSensor provides three product platforms, namely, OrthoSensor Implantables, OrthoSensor Surgical and OrthoSensor Analytics. OrthoSensor Knee Balancer is the first product of the company. It is used to protect soft tissue balance at the time of total knee arthroplasty. The Knee Balancer product is enclosed with sensors that furnish surgical expert with actionable data on knee kinematics, and the sensors send key information wirelessly to a graphic display, allowing surgeons to carry out informed changes to the soft tissues to perfect implant placement. Soft tissue balance and accurate implant placement lengthen the life of implants, improve patient function and minimize the frequency of revision surgeries.