OrthoSensor, the Dania Beach-based 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 proceeds will be used to drive the commercialization of VERASENSE, OrthoSensor's leading product, and expand product development activities. OrthoSensor produces sensors that deliver data during surgery that help doctors pinpoint the positioning of knee implants to minimize or eliminate complications after surgery. OrthoSensor markets the disposable sensors through leading sellers of medical devices including Biomet, Stryker and Zimmer Holdings.
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, the company said.
"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 CEO 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."
OrthoSensor, founded in 2008, has already raised about $53 million in financing, bringing its total funding to about $72 million.