Florida's OrthoSensor, the maker of an electronic implant to assist orthopedic surgeons during knee replacement surgery, disclosed that it has raised nearly $17 million in funding, bringing its total haul to almost $70 million of equity since 2010. The company hopes to raise another $2 million in equity from the offering, according to an SEC filing.
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| Verasense TKA Software Application--Courtesy of OrthoSensor |
The company boasts partnerships to sell its Verasense single-use tibial sensor in conjunction with knee replacement systems from Biomet, Stryker ($SYK), Zimmer ($ZMH) and Smith & Nephew ($SNN).
The insert contains sensors to help orthopedic surgeons optimize the artificial knee's placement and make other clinical decisions during surgery. The information is displayed on a computer monitor. OrthoSensor says it replaces the standard plastic tibial trial spacer and enables evidence-based decisions based on visualization instead of reliance on "feel."
In addition, the company offers a cloud computing platform to store, track and analyze the data to improve future outcomes.
Meanwhile Aliso Viejo, CA-based OrthAlign last year completed a $15 million financing round lead in support of its precision alignment technology that is also supposed to improve the accuracy of orthopedic surgery.
A prominent study has shown that many new-fangled orthopedics perform at the same level as those from prior generations. But by pairing them with technology to enhance the quality of the implantation surgery, perhaps outcomes can be further improved after all.
- here's the SEC filing