OrthoSensor, a provider of intelligent orthopedics, has secured an additional $15m in Series B preferred stock financing round.
The company said with the additional fund, the total Series B investment has reached to $36m.
The funds will be used to expand the commercialization of the company’s OrthoSensor Knee Balancer, and to support the launch of the company’s line of additional intelligent orthopedic devices.
OrthoSensor Knee Balancer is incorporated with sensors and is used to insure proper soft tissue balance during total knee arthroplasty,
The sensors wirelessly transmit key information to a graphic display and facilitate surgeons to make informed adjustments to the soft tissues to optimize implant placement.
OrthoSensor chief executive officer Jay Pierce said, "Since the start of our limited release in September, the OrthoSensor Knee Balancer has been adopted in some of the most prestigious orthopedic facilities in the United States and is providing a wealth of data associated with soft tissue tensioning and knee kinematics."
Intelligent Orthopedics is a new field that includes new developments in sensors, microelectronics and wireless communications with the goal of improving healthcare outcomes and reducing the cost of treating musculoskeletal disease.