Dania Beach-based OrthoSensor, the maker of intelligent orthopaedic devices, raised $19 million in a Series C round of financing. Bridger Healthcare and The Tullis Growth Fund participated in the round, the company said. The money raised 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.
According to the company, patients whose knees have been balanced through the use of VERASENSE™ show statistically significant improvements in joint function, pain, activity level and patient satisfaction.
“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.”
According to The Miami Herald, OrthoSensor, has already raised about $53 million in financing, bringing its total funding to about $72 million. This news only confirms that health innovation is growing in the South Florida tech scene. Both the region's growing tech scene and medical schools are catalysts to the industry's growth. Nova Southeastern University in Davie, the University of Miami and Florida Atlantic University have prestigious programs.
Image Credit: Phalinn Ooi on Flickr