Parvizi Surgical Innovation, LLC (PSI) has made a minority investment in a development-stage hip replacement surgery device company, Navbit Holdings Pty Ltd, based in Sydney, Australia.
| PHILADELPHIA, Dec. 17, 2019 /PRNewswire/ -- Parvizi Surgical Innovation, LLC (PSI) has made a minority investment in a development-stage hip replacement surgery device company, Navbit Holdings Pty Ltd, based in Sydney, Australia. Navbit is developing a disposable, single-use surgical navigation system that helps orthopaedic surgeons accurately position the acetabular cup during hip replacement surgery.
Dislocation after hip replacement is the most common cause of failure of this otherwise successful procedure and is commonly associated with component malpositioning. The device, named the Navbit Sprint, is intended to help surgeons position the components properly during surgery, thus lowering the risk of dislocation. The simple yet sophisticated technology is both accurate and affordable. Professor Bill and Lynette Walter, principals and lead developers of Navbit Sprint, founded the company in 2015, to assist Australian orthopaedic surgeons to optimize acetabular cup position to lower the risk of dislocation. “The issue of dislocation after hip replacement is a real one and needs to benefit from technological advancement,” said Professor Walter. “We have developed a disposable, simple to use technology that combines sophistication of software to deliver accuracy while preserving the flow of the surgery and importance of practicality and reproducibility.” Prior to PSI’s investment in Navbit, the company received financial support from Australian orthopaedics companies and government funding to secure patent protection locally and pending submissions in Europe and the U.S. where more than a million hip replacement procedures are performed annually. “The Navbit Sprint will bring the best of two worlds together, accuracy and simplicity,” said Dr. Craig Della Valle, Professor of Orthopaedics, Chief of Adult Reconstruction at Rush University Medical Center, and a member of PSI. “This will then allow us to avoid a catastrophic complication of hip replacement, namely dislocation.” Parvizi Surgical Innovation, LLC (PSI) fosters the growth of new technologies through research and development. Founded in 2018 by Dr. Javad Parvizi, it is our purpose to further advance healthcare for both the patient and provider with the collective knowledge of devoted clinicians, world-class surgeons, and scientists. Through licensing, funding, partnering, and innovative development, PSI strives to better the lives of patients.
SOURCE Parvizi Surgical Innovations |
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