Healthcare Industry News: knee arthroplasty
News Release - March 23, 2015
OrthoSensor Adds $19 Million through Series C Preferred Stock Financing
Investors include Bridger Healthcare and The Tullis Growth FundDANIA BEACH, Fla., March 23, 2015 -- (Healthcare Sales & Marketing Network) -- OrthoSensor, Inc., the leader in Sensor-Assisted Surgery, announced today that it has raised $19 million in a private placement of Series C Preferred Stock. Bridger Healthcare, Ltd. and The Tullis Growth Fund, L.P. participated in the round. The proceeds will be used to drive the commercialization of VERASENSE™, OrthoSensor's leading product, and expand product development activities.
VERASENSE™ is a disposable sensor-assisted total knee replacement instrument that delivers data wirelessly and enables surgeons to make evidence-based decisions on ligament/soft tissue balance and implant position in real time. Patients whose knees have been balanced through the use of VERASENSE™ show statistically significant improvements in joint function, pain, activity level and patient satisfaction.
OrthoSensor will showcase its VERASENSE™ Sensor-Assisted TKA in booth #455 at the American Academy of Orthopaedic Surgeons (AAOS) 2015 Annual Meeting March 25-27 in Las Vegas, Nevada. Highlights of the three-day event include presentation of favorable clinical data from a two-year Multicenter Evaluation of VERASENSE™ and in-booth presentations from surgeons who are currently using VERASENSE™ in their total knee arthroplasty procedures.
"Our proprietary technologies are providing orthopaedic surgeons with valuable new tools to enhance clinical outcomes and deliver greater patient satisfaction following total knee arthroplasty procedures," said Ivan Delevic, President and Chief Executive Officer of OrthoSensor. "We have an exciting path forward and believe that the support of high-profile investors such as Bridger Healthcare and The Tullis Growth Fund illustrates broad potential impact of our technology in the future of orthopaedics."
About OrthoSensor, Inc.
OrthoSensor, Inc. develops and commercializes intelligent orthopaedic devices and data services that provide quantitative feedback to surgeons and hospitals. The company's intelligent orthopaedic devices utilize advanced proprietary sensor and communications technologies coupled with the company's innovative software products to enable evidence-based orthopaedic surgery and a vision of improving patient outcomes and potentially reducing the cost of treating musculoskeletal disease.
OrthoSensor® and VERASENSE™ are trademarks of OrthoSensor, Inc.
About Tullis Growth Fund, L.P.
Tullis manages a family of private equity funds that provide equity and equity-related capital to small and emerging health care companies. Tullis focuses on companies that have already established operations or have completed a substantial portion of their development process for new products, technologies and services. For more information, please visit http://www.tullisfunds.com.
Source: OrthoSensor
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