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    Breaking News

    EDGe Surgical Secures $4 Million in Series A Financing

    Company’s single-use, digital electronic depth gauge used to more accurately and safely place screws in orthopedic procedures.

    Proceeds will be used for increased manufacturing, marketing, and sales surrounding the company’s first device, the EDG Ortho 65mm, as well as development and launch of a second device focused on the spinal surgery market.
    Proceeds will be used for increased manufacturing, marketing, and sales surrounding the company’s first device, the EDG Ortho 65mm, as well as development and launch of a second device focused on the spinal surgery market.
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    • Catalyst OrthoScience Appoints Executive Chairman and Interim CEO
    EDGe Surgical Inc.12.14.18
    EDGe Surgical Inc., a privately held medical device company dedicated to innovative precision measurement solutions for orthopedic surgery, announced that it has completed $4 million in financing. The Series A round includes $3 million raised plus a convertible note, bringing total funding secured by the company to $5.7 million, all from angel investors. Proceeds will be used for increased manufacturing, marketing, and sales surrounding the company’s first device, the EDG Ortho 65mm, as well as development and launch of a second device focused on the spinal surgery market.
     
    The EDG Ortho 65mm is the first and only single-use electronic depth gauge. It is designed to more accurately measure length for orthopedic surgical screws, and also mitigate bioburden contamination, a leading cause of surgical site infections. EDGe Surgical’s device provides healthcare professionals, hospitals, and outpatient medical facilities with a digital alternative to analog depth gauges for greater accuracy at a decreased cost, all while mitigating infection risk.
     
    The company’s EDG Ortho 65mm device has 510(k) clearance and is expanding beyond initial facilities into wider availability.
     
    “The positive reception we’ve received from surgeons to our pilot launch, which started earlier this year, illustrates that our device fills a major market need for a depth gauge that enables more accurate screw selection without the worry of bioburden contamination risk,” said Christopher Wilson, president and CEO of EDGe Surgical. “We appreciate the continued support of our sophisticated angel investors, who bring surgical and medical device C-suite expertise, to help us quickly move the needle. Closing our Series A round will allow us to expand availability of our EDG Ortho 65mm and develop additional new products to serve customers seeking cost-effective and highly advanced solutions.”
     
    Until now, the most common approach for orthopedic surgical measurement has been using a traditional analog depth gauge with a sliding metal scale to determine drill depths and screw lengths. The EDG Ortho 65mm can overcome the drawbacks of these traditional depth gauges, invented almost a century ago, by eliminating many of the inefficiencies and financial costs, such as:
     
    • Up to 20 percent of measurements using the traditional analog depth gauge are inaccurate. Mismeasurement is a leading cause for wasted screws/implants, which is estimated at a $200 million a year cost to the healthcare system. 
    • Traditional analog depth gauges are reusable by design and are difficult if not impossible to clean properly, and sterilization is not effective on insufficiently cleaned surgical instruments based on a recent study at a university hospital Level 1 trauma center. 
    • Per case costs associated with using a traditional depth gauge are estimated to be greater than $400, with traditional device downsides including bone non-unions, implant-related complications, infection risk, and unnecessary radiation exposure.
     
    The EDG Ortho 65mm can significantly reduce costs as a result of greater accuracy (i.e., less wasted screws), reduced infection risk, and greater measurement consistency. For example, the EDG Ortho 65mm reduced measurement error by up to 90 percent in recent cadaver and sawbones accuracy labs, and a study presented at the 2018 Annual Meeting of the American Society for Surgery of the Hand (ASSH) found a significant reduction in the rate of major measurement error in sawbones models compared to the traditional analog depth gauge.
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      Nevro asserts Stimwave is infringing patent's covering the Senza system and HF10 therapy.
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      Global Study Finds High Success Rate for Hip and Knee Replacements

      Findings showed eight out of ten total knee replacements and six out of ten total hip replacements will still be in place after 25 years.
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      Life Spine Announces Initiation of SIMPACT Sacroiliac Joint Fixation Outcomes Study

      Life Spine Announces Initiation of SIMPACT Sacroiliac Joint Fixation Outcomes Study

      SIMPACT is a cannulated and fenestrated screw, intended for sacroiliac joint fusion.
      Business Wire 02.15.19


    • MIS/Robotics
      McGinley Orthopedics Recruits Industry Leader as New CEO

      McGinley Orthopedics Recruits Industry Leader as New CEO

      Carl O'Connell most recently served as CEO of Xtant Medical.
      PR Newswire 02.14.19

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      Study Shows Safety, Efficacy of Radiological Outcomes for Oblique Lateral Lumbar Interbody Fusion

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    • Tegra Medical Names New GM

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    Breaking News
    • Nevro Files U.S. Patent Lawsuit Against Stimwave
    • Global Study Finds High Success Rate for Hip and Knee Replacements
    • Life Spine Announces Initiation of SIMPACT Sacroiliac Joint Fixation Outcomes Study
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    • Study Shows Safety, Efficacy of Radiological Outcomes for Oblique Lateral Lumbar Interbody Fusion
    View Breaking News >
    CURRENT ISSUE

    January/February 2019

    • The 11 Steps of Metrology Matching
    • Realizing the Promise of Pre-Validated Packaging
    • Creating a Natural Extension: Instrument Manufacturing
    • Squeaky Clean: Orthopedic Device Packaging & Sterilization
    • Natural Selection: Biologics in Orthopedics
    • View More >

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