OrthoSensor Secures More Financing for Inaugural Product
Fort Lauderdale, Fla.-based OrthoSensor Inc. has secured a further $15 million in series B preferred stock financing, the funds of which will be used to finance the company’s first product, the OrthoSensor Knee Balancer. Now totaling $36 million, the financing also will be used to support the launch of OrthSensor’s line of additional orthopedic devices. OrthoSensor’s three product platforms are surgical, implantables and analytics.
"The strong interest in our latest round of funding demonstrates the continued investor confidence in OrthoSensor and the tremendous market opportunity for intelligent orthopedics," said Jay Pierce, CEO of OrthoSensor.
The knee balancer is intended to ensure proper soft-tissue balance during total knee arthroplasty. It 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, according to the company. 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 is exclusively focused in intelligent orthopedics, a new field that uses sensors, microelectronics and wireless communications with the goal of improving healthcare outcomes and reducing the cost of treating musculoskeletal disease. Devices such as the ones in OrthoSensor’s portfolio are designed to communicate real-time information to surgeons and hospitals, enhance surgical implantation, as well as enable remote monitoring of implant function and overall musculoskeletal health.