April 28, 2014
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OMNIlife science closes on debt financing

OMNIlife science Inc. announced the closing of a $27.5 million debt financing via affiliates of Deerfield Management Company. OMNIlife science plans to use the financing to continue expansion of its hip and knee replacement implant product lines as well as complete commercial development of its OMNInav hip replacement product.

According to a company press release, plans are also in place for OMNIlife science to increase the number of deployed OMNInav systems from the current 18 to 50 by the end of 2015. OMNIlife science also will be replacing all current first-generation OMNInav units with new second-generation stations and software.

“Deerfield is committed to supporting innovative products and growth companies and has extensive experience with the computer navigation and robotics sector of health care, and we welcome them to the OMNI team,” George Cipolletti, president and chief executive officer of OMNIlife science, stated in the release. “Given the demographics of the baby boomer generation and the active lifestyle that baby boomer patients intend to maintain, we believe that offering alternative solutions incorporating robotic technology that improve surgical outcomes and reduce rehabilitation times will significantly benefit both patients and the health care system.”