Neo Medical Secures $68M Equity Investment

Neo Medical has completed a Series B financing round. With this latest round, the company has secured an additional equity investment of up to $68 million to boost its global growth.
 
The Swiss company combines the latest advanced in biomechanics and intraoperative augmented reality (AR) with the aim of setting new standards in spine surgery.
 
Designed to support treatment of any operable thoracolumbar condition in a single procedural platform, Neo Medical’s portfolio integrates proprietary force control technologies with first-of-its-kind, intraoperative, AI-driven augmented reality data capabilities to improve patient outcomes, reduce environmental impacts, and lower healthcare-associated costs.
 
The company said the proceeds will be used to increase its market share in key regions, with immediate focus on expanding the U.S. business. They will also be used to deploy new, complementary, and disruptive products, and enhancing the capabilities of its artificial intelligence (AI)-driven augmented reality intraoperative data platform, ADVISE.
 
Since commercial launch in 2016, Neo’s technologies have been used to treat around 36,000 patients, with the company making significant progress in both operational and clinical performance compared to traditional standards.
 
“Thoracolumbar spine surgery is a large market that has lacked disruptive innovation for decades—the spine sector needs innovation to improve patient outcomes and drive positive change for all stakeholders,” said Vincent Lefauconnier, Neo Medical’s CEO and co-founder. “This is precisely what we have set out to achieve with Neo Universal—a platform introducing new technological and structural approaches to create real value both inside and outside the operating theatre. After successfully entering key markets, we are ready to scale. This funding will enable us to grow and push the boundaries of what is possible in spine surgery, bringing our solutions to more healthcare providers and, most importantly, improving outcomes for patients.”