10.16.13
OrthoSensor Inc. has closed the second part of a Series B financing round woth $13 million, bringing the company's total Series B financing to more than $48 million.
Series B Investors include Dignity Health (a California-based hospital systema—the fifth largest in the United States nation and the largest not-for-profit hospital provider in California), Ziegler Meditech Equity Partners LP, and undisclosed strategic and angel investors.
"OrthoSensor has an aggressive growth agenda, maximizing the relationships we have with our current partner companies and adding new partners, product lines and international markets in the coming year," said Jay Pierce, president and CEO of Dania Beach, Fla.-based OrthoSensor. "This additional investment and continued confidence from our investors provides increased resources to maintain the rapid growth of our Verasense product line, as well as fund additional R&D, marketing and sales initiatives."
The Verasense knee system is an intelligent single-use device used in total knee replacement procedures to provide surgeons with real-time, quantifiable data on implant placement, soft-tissue balance and limb alignment. Verasense uses embedded sensors and wireless communication technology to provide data that enables surgeons to make informed adjustments to optimize implant placement and soft-tissue balance during surgery. Accurate implant placement has been shown to extend the life of implants, reduce the incidence of revision surgeries and improve patient function.
"The OrthoSensor platform has remarkable potential to improve patient outcomes and help speed recovery for knee replacements," said Alyssa Rieder, director of investments for Dignity Health. "This investment aligns with Dignity Health's goals to partner with companies that are innovating to improve quality and patient satisfaction."
Verasense was cleared for use in total knee replacement procedures by the U.S. Food and Drug Administration (FDA) in 2011 and received FDA clearance for limb alignment earlier this year.
Series B Investors include Dignity Health (a California-based hospital systema—the fifth largest in the United States nation and the largest not-for-profit hospital provider in California), Ziegler Meditech Equity Partners LP, and undisclosed strategic and angel investors.
"OrthoSensor has an aggressive growth agenda, maximizing the relationships we have with our current partner companies and adding new partners, product lines and international markets in the coming year," said Jay Pierce, president and CEO of Dania Beach, Fla.-based OrthoSensor. "This additional investment and continued confidence from our investors provides increased resources to maintain the rapid growth of our Verasense product line, as well as fund additional R&D, marketing and sales initiatives."
The Verasense knee system is an intelligent single-use device used in total knee replacement procedures to provide surgeons with real-time, quantifiable data on implant placement, soft-tissue balance and limb alignment. Verasense uses embedded sensors and wireless communication technology to provide data that enables surgeons to make informed adjustments to optimize implant placement and soft-tissue balance during surgery. Accurate implant placement has been shown to extend the life of implants, reduce the incidence of revision surgeries and improve patient function.
"The OrthoSensor platform has remarkable potential to improve patient outcomes and help speed recovery for knee replacements," said Alyssa Rieder, director of investments for Dignity Health. "This investment aligns with Dignity Health's goals to partner with companies that are innovating to improve quality and patient satisfaction."
Verasense was cleared for use in total knee replacement procedures by the U.S. Food and Drug Administration (FDA) in 2011 and received FDA clearance for limb alignment earlier this year.