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OrthoCor Medical announces $2.4 million equity investment

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OrthoCor Medical Inc., a Minneapolis-based maker of noninvasive knee devices, announced that the company has closed a $2.4 million angel investment.

The company's OrthoCor Active Knee System is an FDA-approved, wearable medical device that uses pulsed electromagnetic field therapy to reduce knee and arthritis pain, according to a company release.

The release also noted OrthoCor has hired Patrick J. Carroll as its national sales director. Carroll was the eastern regional sales manager at Exos Corporation, and previously held executive sales positions at 3M, Spine-Tech and American Medical Systems.

“With the closing of a successful round of financing and the addition of Patrick to our management team, we are excited to meet the huge demand for our Active Knee System by expanding our sales efforts to orthopedic clinics and patients across the United States,” John Dinusson, OrthoCor president and chief executive officer, stated in the release.