FORT LAUDERDALE, Fla., Feb. 7 /PRNewswire/ -- MAKO Surgical Corp., an emerging orthopedic medical device company developing advanced solutions for least invasive knee surgery, announced today that it has closed on a $30 million Series C private equity financing led by funds affiliated with and advised by Tudor Investment Corporation. The financing also included Ziegler Meditech Equity Partners, as well as MAKO’s existing stockholders, including The Exxel Group, MDS Capital Corp., Aperture Venture Partners, Ivy Healthcare Capital, L.P. and Sycamore Ventures.
MAKO’s Haptic Guidance System(TM), allows orthopedic surgeons to perform MAKOplasty(TM), an innovative therapy for a large, yet highly underserved, population of patients with early-stage osteoarthritis of the knee. MAKOplasty(TM) empowers orthopedic surgeons to pre-operatively plan the precise alignment of knee resurfacing components and to intra-operatively make complex, anatomic, tissue-sparing and bone-conserving cuts with accuracy and precision.
“The successful closing of MAKO’s Series C Financing demonstrates that MAKO’s superior technology and intellectual property are manifesting in the manufacture and sale of a game-changing commercial product,” said MAKO’s President and CEO, Maurice R. Ferre, M.D. “This infusion of capital will enable MAKO to execute on an operating plan that expands the clinical presence of MAKOplasty(TM) and bolsters the development of the next generation of MAKO proprietary technology and implants, all for the ultimate benefit of patients.”
MAKOplasty(TM) provides the potential for improved patient outcomes, minimal hospitalization and shorter rehabilitation. The MAKOplasty(TM) program also provides surgeons with an early intervention to effectively treat patients with unicompartmental osteoarthritis of the knee, allowing patients to retain their pre-operative lifestyle. In June 2006, the company performed the first MAKOplasty(TM) procedure and has performed more than twenty procedures to date.
“Ziegler Meditech Equity Partners has been impressed with MAKO’s rapid progress over the past year,” noted Dr. Morry Blumenfeld, Chief Investment Officer at ZMEP. “We’re convinced that MAKO’s disruptive technology will be widely adopted by the orthopedic market and that MAKOplasty(TM) will be embraced by both surgeons and patients as the standard of care in the industry.”
About MAKO Surgical Corporation
MAKO Surgical Corp. is a privately held, emerging orthopedic medical device company developing advanced solutions for least invasive knee surgery. Founded in November 2004, the company has developed and released the MAKO Haptic Guidance System(TM). The Haptic Guidance System(TM) utilizes haptic robotic technology and intelligent cutting tools to assist surgeons in performing accurate and repeatable unicondylar knee procedures. The system is FDA-cleared and protected by more than 230 patents and patent applications owned or licensed by the company. For more information, please visit www.makosurgical.com.
Source: MAKO Surgical Corp.
