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DGIMED Ortho, Inc. Completes Initial Funding and Hires Senior Management Team


3/17/2009 10:09:53 AM

MINNETONKA, Minn.--(BUSINESS WIRE)--DGIMED Ortho, Inc. announced that they have completed a $3.4 million Series A round of financing to support the further development of a new, proprietary system to assist orthopedic surgeons in the delivery of long bone intramedullary nail implants. Dan Gladney, Founder and Chairman, acquired the technology rights through an agreement with the Midwest Orthopedic Research Foundation, Devicix LLC, and Ramon B. Gustilo, M.D. in 2008. The funds will be used to fund the development of a proprietary drill and intramedullary nail system. The Company plans to file a 510(k) submission in the near future. Cedar Point Capital, LLC was the Company’s sales agent for this funding and the Company was represented by its legal counsel, Oppenheimer Wolff & Donnelly LLP.

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