FT. LAUDERDALE, FL--(Marketwire - 01/26/11) - OrthoSensor, Inc., the leader in developing intelligent orthopedic implants and sensor-assisted surgery systems, announced that it has arranged $21 million in Series B financing. The Series B was led by Ziegler Meditech Equity Partners, LP, and an unnamed strategic investor. OrthoSensor is developing and commercializing intelligent orthopedic devices that will enable evidence-based orthopedic surgery and remote monitoring of orthopedic implants with the goal of improving patient outcomes and reducing the cost of treating musculoskeletal disease.
By harnessing the latest innovations in orthopedic devices, electronics technology and wireless communications, OrthoSensor has created advanced sensor assisted systems that give surgeons new, real-time, actionable information about implant placement and performance. Its portfolio of products will be used in knee, hip and shoulder replacement procedures, as well as in spinal and trauma applications.
"We are very pleased that OrthoSensor has attracted such distinguished investors and look forward to their support and counsel as we move into the commercialization phase for our products," commented Jay Pierce, Chief Executive Officer of OrthoSensor. "OrthoSensor is focused on transforming the treatment of musculoskeletal disease through low cost, intelligent devices that facilitate evidence-based surgical decisions, remote monitoring and comparative effectiveness in orthopedics."
OrthoSensor has three product platforms: OrthoSensor Surgical, OrthoSensor Implantables and OrthoSensor Analytics. The first OrthoSensor Surgical products are disposable, sensor-enabled devices that will provide quantitative, intra-operative feedback to surgeons to help ensure the proper balance and alignment of orthopedic implants. These intelligent devices will allow real time optimization of patients' specific joint kinematics. 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.
"The next wave of innovation in orthopedic surgery is going to be driven by devices that enable surgeons to make real-time, data-driven decisions and help to deliver on the promise of personalized medicine," commented Eitan Machover, Managing Partner, Ziegler Meditech Equity Partners. "We are excited by OrthoSensor's vision and look forward to supporting Jay and his team as they build the platform and capitalize on this tremendous market opportunity."
OrthoSensor, Inc. (www.orthosensor.com) is an innovative medical device company developing and commercializing intelligent orthopedic devices that provide real-time data to surgeons and hospitals during and after surgery. OrthoSensor's intelligent orthopedic devices utilize advanced sensor and wireless communication technology with the goal of improving healthcare outcomes and reducing the cost of treating musculoskeletal disease. The company's intelligent orthopedic instrumentation and implants are designed to enhance surgical implantation, as well as enable remote monitoring of implant function and overall musculoskeletal health.
About Ziegler Meditech Equity Partners
Ziegler Meditech Equity Partners, LP (www.zmep.com) is a limited partnership focusing on investments in emerging medical device technologies. With over 50 years of experience in medical device development and commercialization, the ZMEP team looks to provide more than capital to its portfolio companies. ZMEP seeks partnerships with entrepreneurs where the technical and financial expertise of the ZMEP management team can assist in the creation of tomorrow's leading medical device companies. With offices in the United States and Israel, ZMEP is positioned globally to partner with middle to late stage medical device companies showing great promise for success through commercialization.
Rachel Kessler for OrthoSensor