Led by Ziegler Meditech Equity Partners, Florida-based OrthoSensor raised $21 million in a Series B round of financing. The devicemarker's OrthoSensor Surgical products are disposable, sensor-enabled devices that give feedback to surgeons while they're placing orthopedic implants. By ensuring the correct balance and alignment of the implant, the devices are likely to last longer, reduce the chance of repeat surgeries and improve patient outcomes. OrthoSensor's products include sensors for knee, hip and shoulder replacement procedures, and for spinal and trauma applications.
CEO Jay Pierce told The Wall Street Journal that a major medical device company also participated in the round, but the name of that firm wasn't disclosed. OrthoSensor has received 510(k) clearance for sensors used during surgery. It hopes to also gain approval for smart devices that stay inside body to monitor patients' condition.
"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," said Ziegler managing partner Eitan Machover. "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." The company previously raised $6 million in a Series A round in 2008.
- here's OrthoSensor's release
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