Think Surgical Pockets $65M of Growth Capital

Think Surgical revealed that it’s entered a debt facility with Symbiotic Capital, providing the orthopedic robotics company with up to $65 million of growth capital.

The Fremont, California-based company said it will use the proceeds to power the TMINI miniature robotic system’s dual channel sales strategy. “We are excited about TMINI’s potential to advance surgical robotics in the field of orthopedics, and we are impressed by the compelling value proposition it offers to both physicians and patients,” said Himani Bhalla, senior managing director and chief investment officer of Symbiotic Capital.

The TMINI robotic system features a wireless robotic handpiece to assist with total knee arthroplasty. The handpiece follows a CT-based, 3D surgical plan to automatically compensate for surgeon hand movement to locate bone pins along precisely defined planes. Cutting guides are then connected to the bone pins to accurately resect bone.

TMINI obtained U.S. Food and Drug Administration (FDA) 510(k) clearance in 2023 and has since won FDA nods for use with several total knee implants, including Zimmer Biomet’s Persona, the LinkSymphoKnee, and many others. Think Surgical said it plans to use an open implant library, adding new implant options as they earn regulatory approval.

“This facility, combined with recent additional investments by our existing investors, will allow us to continue our significant growth and development of TMINI, and is expected to fully finance the company to profitability,” Think Surgical president and CEO Stuart Simpson told the press.

Robotic-assisted orthopedic surgery is gaining momentum. Explore the trends and technologies in our latest feature.