Del Palma Orthopedics bags $1.4 million

July 1, 2010 by MedCity News

Del Palma Orthopedics LLC grabs $1.4 million in equity to develop devices for hand surgeons.

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By Brandon Glenn

Del Palma Orthopedics LLC raised $1.4 million in equity to develop devices and tools for hand surgeons.

The company sells a procedure or surgeries for patients suffering from trigger finger, a painful condition in which a finger catches and sometimes locks in a bent position.

The kit includes Del Palma’s Advansor TF surgical device, needles, a scalpel, sponges and other surgery-related products.

Del Palma’s fund-raise was sourced from four investors, with the first sale on June 14. The two-year-old company aims to raise $2 million, according to a regulatory filing.

The company is one of four startup tenants in a newly opened incubator in Columbia City, Ind., called the OrthoVation Center. MicroPulse Inc., an orthopedic implants and surgical instruments maker based in Columbia City, founded the incubator. MicroPulse “will get first shot” at manufacturing products for the incubation center’s tenants, the Fort Wayne Journal-Gazette reported.

Columbia City is near Warsaw, Ind., which bills itself as the “orthopedics capital of the world.” The small city and surrounding area are home to a cluster of orthopedic device companies such as Zimmer Holdings Inc., DePuy Orthopaedics Inc., Symmetry Medical and Biomet Orthopedics Inc.

Del Palma CEO Rod Mayer didn’t immediately return a call.