OrthoSensor said today that it closed out a $19 million Series C round it plans to use to commercialize its Verasense knee implant technology.
Dania Beach, Fla.-based OrthoSensor said Bridger Healthcare and the Tullis Growth Fund participated in the round.
Earlier this month OrthoSensor said in a regulatory filing that it raised $17 million for Verasense, which is designed to help surgeons measure proper placement and motion during total knee replacement procedures.
"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," president & CEO Ivan Delevic said in prepared remarks. "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 closed a $48 million Series B round in October 2013, just after its Verasense device gained a CE Mark approval in the European Union. The FDA granted 510(k) clearance to the Verasense device in June 2013.
Since then, OrthoSensor has formed a number of broad marketing partnerships with large-name orthopedics players including Zimmer (NYSE:ZMH) and Smith & Nephew (NYSE:SNN).
The deal with Zimmer calls for the co-marketing of Verasense with Zimmer’s NextGen knee surgery platform; likewise, the Smith & Nephew agreement involves integrating Verasense with its Journey II and Legion knee implants.
