OrthoVentions LLC Announces Partnership with HSS to Support Investments in Early-Stage Medical Technology
Early-stage fund to identify and support the development of innovative solutions created by the premiere musculoskeletal surgeon group at Hospital for Special Surgery
NEW YORK, Feb. 27, 2023 /PRNewswire/ -- OrthoVentions LLC and the Hospital for Special Surgery (HSS) today announced they have entered into an agreement to support the development of technologies crafted by the premiere musculoskeletal surgeon group. The dedicated fund managed by OrthoVentions principals will be tasked to steward the innovative technologies developed by HSS surgeons and create individual early-stage companies focused on bringing the respective inventions to market.
"We are pleased to announce this partnership between HSS and OrthoVentions designed to promote the innovative potential resident within our best-in-class musculoskeletal surgeons", said newly appointed President and Surgeon-in-Chief and next CEO of HSS Dr. Bryan Kelly. "Innovation and the development of clinically compelling solutions has been a central feature of HSS and this partnership with OrthoVentions provides our surgeons an additional opportunity for them to unlock the potential of their inventions"
Under the terms of the agreement, the management of OrthoVentions will conduct a competitive process to select technologies developed by surgeons at HSS. Technologies identified for funding will be structured as stand-alone subsidiaries of OrthoVentions LLC with the goal of utilizing the funds to complete product development and achieve the appropriate regulatory approval and limited market release. The selection process will focus on those technologies addressing unmet clinical needs that also provide compelling innovation that is distinguished in the marketplace.
Jagi Gill, Founder and Managing Director of OrthoVentions, said "One of the central pillars contributing to the exemplary reputation of HSS is its commitment to driving innovation in healthcare. We are excited to be partnering with the surgeons at HSS to leverage their unique technologies and couple them with financial and operational resources experienced in bringing products to market. Our dedicated fund offers a unique opportunity to fund breakthrough early-stage medical innovation.
OrthoVentions LLC is a dedicated health-care fund collaborating with the Hospital for Special Surgery to identify and develop novel technologies developed by their premiere musculoskeletal surgeons. The principals at OrthoVentions bring a strong track record as founders and operators of medical technologies companies with a rich experience in developing and commercializing compelling healthcare solutions. (www.orthoventions.com)
Rom Papadopoulos MD
Chief Financial Officer
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SOURCE OrthoVentions LLC